“NFTs are garnering the headlines, as cryptos remain an investor favorite with volatility continuing to lure investors away from more mature asset classes”–Paul Ebeling
Monetary policy uncertainty and choppy FX markets have given investors good reason to jump across to crypto NFT assets.
So, with even Bitcoin making an impressive 1,430% return since it’s Y 2020 low at $4,000, a number of other majors have also made huge moves including GBITS, which recently marked a YTD high at $278.24118 Wednesday.
Cryptos are not yet close to competing with the likes of Visa and fiat currencies.
However, the reality is that even Visa has embraced blockchain. This all means that there is a future.
Those paper money diehards that compared cryptos to tulips would have certainly rued passing up an investment opportunity that has delivered unprecedented wealth to many believers.
When looking at the cryptos that may draw investors in, price is a major factor.
Buying 100 Bitcoin to make a sizeable return is out of reach for many investors, with Bitcoin sitting at $62,931.09 at this writing. 100 Bitcoins would set you back more then $6.3-M.
Buying even a million coins of some of the low-value cryptos is within the reach of many investors and speculators
For instance, 2m Shiba Inu Coins would set an investor back $150. Now sitting as a top 10 crypto by market cap, it is a small price to pay for a coin that could reach half a penny or a Dollar.
Other coins worth considering include Ripple’s XRP. Ranked 7th by market cap, the current concern is how the SEC can impact the platform and XRP in terms of value.
Should the case against Ripple go in favor of the remittance platform, a breakout is likely. Along with that, a spike in adoption would also follow, supporting further Northside action.
When considering the ground made by some of the majors over Ys 2020 and 2021, Ripple’s XRP is lagging
Since Y 2020’s low $0.1165, Ripple’s XRP is up by 856%. To put it into perspective, Shiba Inu Coin surged by 831% in October alone.
Crypto.com Coin, Stellar’s Lumen, Tron’s TRX, VeChain, and Waves could also be big movers. They would need support of the larger cryptos by market cap, however.
A 10,000% return on a $1,000 investment is far too enticing to ignore.
Investing what 1 is willing to lose on the hope of a windfall is a reasonable strategy. .
To become a crypto whale, HOLD’ing not folding is the Key and tuning out the noise is a must.
A Bitcoin move through to $70,000 and talk of $100,000 would trigger another breakout. FOL investing would yield the golden egg for those that choose wisely or diversified widely.
Regulatory news will need to remain market friendly to support another breakout, which I believe it will, even with governments, central banks, and banks wishing to gain control.
If there is anything that the crypto market has shown the market since the Y 2017 meltdown, it is resilience in the main.
Have a prosperous day, Keep the Faith!