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The Crypto Market is Alive and Well. 10,000% Returns Remain a Reality for Want to be Billionaires
Following the impressive runs across the crypto majors over the last 2-years, investors will be looking for the next big move.
NFTs have certainly grabbed plenty of headlines. Cryptos remain an investor favorite, however, with volatility continuing to lure investors away from more mature asset classes.
Monetary policy uncertainty and choppier FX markets have given investors all the more reason to jump across.
So, with even Bitcoin making an impressive 1,430% return since it’s 2020 low $4,000, a number of other majors have also made a move.
Recently, news hit the wires of a Shiba Inu Coin wallet holder’s asset value surging from an initial investment of $8,000 to more than $5bn in less than 1-year.
When considering crypto adoption and more widespread accessibility, returns of 10,000% and more remain a reality.
This is even more likely when considering how toppy the global equity markets are at present. With central banks making a shift on monetary policy, more seasoned investors will also look beyond the Dow.
With the crypto markets, there are likely to continue to be two camps.
On the one side, we have those looking for adoption. As we have seen with the likes of Bitcoin, Ethereum, Litecoin, and even Ripple’s XRP, it’s a long and slow process, however.
Movements across the majors have been more sentiment driven. Cryptos are not yet close to competing with the likes of Visa and fiat. The reality is, however, that even Visa has embraced blockchain. This all means that there is a future. Those that compared cryptos to tulips would have certainly rued passing up an investment opportunity that has delivered unprecedented wealth.
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 $60k plus. 100 Bitcoins would set you back more then $6 million.
Buying even a million coins of some of the low-value cryptos, however, is within the reach of many.
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 cent or even 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. Alongside that, a surge in adoption would also follow, supporting further upside.
When considering the ground made by some of the majors over 2020 and 2021, Ripple’s XRP is lagging behind.
Since 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.