The third big bitcoin (CCC:BTC) “halvening” happened in May, and according to our very own Matt McCall — whose Ultimate Crypto portfolio has averaged a jaw-dropping 121.54% gain in 2020, against the market’s 13.4% gain year-to-date — that’s a huge reason to be bullish on cryptocurrencies in 2021.
But, before we jump into understanding what that halvening is (also referred to as a “halving”) and which cryptocurrencies to buy for 2021, let’s first understand why cryptocurrencies as a broad asset class have a bright future.
The core purpose of cryptocurrencies is relatively simple: leverage technology to eliminate the middle-man in financial transactions and make buying and selling things less costly and more efficient.
Through the blockchain — a decentralized public ledger of transactions that anyone can view, is consistent across the whole network, and is unable to be edited and/or updated unless the whole network agrees with the update — cryptocurrencies are able to conduct and verify financial transactions without needing any central oversight.