Popular cryptocurrencies continue to attract the attention of most cryptocurrency traders. But many new traders struggle in the first place to make sense of the markets and how to put their portfolios in a position to thrive. Many are trying to break into the crypto space on their own. Well, what would happen if you invested in Ethereum Classic (ETC), Dogecoin (DOGE) and Chainlink (LINK), which are the cryptocurrencies that these investors hear most, in 2020? Here are the details…
State of the markets in 2020
Investors who have invested in major US indices have enjoyed respectable returns since March 2020. In fact, the SPDR S&P 500, Invesco QQQ Trust Series 1, and SPDR Dow Jones Industrial Average ETF Trust have since returned 78.7 percent, 82.95 percent and 69.92 percent. At that time, US markets had bottomed out in 2020.
As well as investors in major US indices have had in recent years, cryptocurrency bulls have done it much better. Bought in March 2020 and surviving as US markets bottomed out despite significant volatility, crypto and tech bulls have enjoyed epic returns on their investments. If you had invested $100 each in Ethereum Classic, Dogecoin, and Chainlink, your portfolio would now look like this:
- Ethereum Classic: $887.85
- Dogecoin: $3,981
- Chainlink: $394
As can be seen, the most profitable cryptocurrency was Dogecoin. As we have also reported as Kriptokoin.com, DOGE is the biggest meme coin.
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