Crypto Update May 2020
Founder and CEO
13 November, 2020 | 5 MIN
The news of the Bitcoin Halving this month is exciting to the crypto market. Will it be the catalyst for the next stage of the 2nd Crypto Boom? The fundamentals are there.
Remember — don’t just buy Bitcoin, Buy a Blue Chip Bundle, it performs 100% better over time with less risk!
Dacxi is an exchange for investors, so we look forward one to two years and look back over several. Since the start of 2019, crypto has been a hot market. The best performing asset class in the world: $126bn to $256bn. It has been higher twice in the period, yet it’s still 100% growth!
With the introduction of more liquid markets, especially derivatives, the exchange volumes have exploded with the average volume up more than 500%. We know some of this is fake volume, however the numbers are impressive.
Since Jan 2019, Bitcoin is up 150%. The fundamentals of Bitcoin remain strong although it has competitors for its crown of global cryptocurrency in government CBDC and Libra coins.
It remains over 60% of the crypto market in value and will logically lead the next boom.
The world leader is what’s called Web 3.0. A decentralised global platform of ‘Decentralised Applications’, DApps. Its infrastructure is ongoing a major upgrade with all the incumbent tech bugs, yet it remains the world’s most favoured solution. This is a massive market [think about the scale of the internet] so we can all accept some tech expansion issues and the potential value of Ether is huge.
The price since Jan 2019 is only up 35% [hugely respectable in anyone’s portfolio], and the buzz around Ethereum is such that it could explode in value quickly.
The fact is that few products ever win being the ‘Number 2’ as Litecoin has always been to Bitcoin. The reason the market loves Litecoin is that Bitcoin is too slow and expensive to be a credible payment currency and the two forks, Bitcoin cash and Bitcoin SV, simply suffer from poor market management. And from being ‘not quite Bitcoin and not quite anything else’. Thus, Litecoin is the most credible for the ‘Independent Global Payment Crypto Currency’ category.
Litecoin had a strong 350% run in 2019, a slow decline followed by a 100% run in early 2020. One wonders if it’s not ready for another major run in 2020.
The crypto market looks poised for a major push upwards if it breaks up another 15%. This run could easily take it past US$14,000 on Bitcoin price and possibly up to the previous all-time high of $20,000. That’s about a 120% increase.
If the market goes for a run, you can expect all the talk to be around Bitcoin but expect Ethereum and Litecoin to go with it, rising a lot more in percentage terms. That’s why a Portfolio Bundle is the best recommendation for you.
It’s time to go all-in with crypto.