KEY POINTS:
* The recent slump in cryptocurrencies may not last for long.
* Bitcoin is emerging as a viable alternative asset on Wall Street.
* Ethereum has lost some market share to rivals, but it’s still in a commanding position in the fast-growing NFT market.
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2 Cryptos That Can Double Your Money In 2022 And Beyond Guaranteed.pdf
1. KEY POINTS
●The recent slump in
cryptocurrencies may not last for
long.
●Bitcoin is emerging as a viable
alternative asset on Wall Street.
2. ●Ethereum has lost some market
share to rivals, but it’s still in a
commanding position in the
fast-growing NFT market.
The most popular cryptocurrencies
offer the best risk-adjusted return.
Leading cryptocurrencies exploded in
value from the beginning of 2020
through the first half of 2021. Bitcoin
( BTC 4.50% ) and Ethereum (
ETH 4.42% ) have climbed 918% and
3. 1,940%, respectively, over the last three
years, but they have cooled off along
with the stock market in recent
months.
Growing interest from institutional
investors and the high volume of
transactions that Bitcoin and Ethereum
are handling every day means these
cryptos could reach new highs. Here’s
4. why the top two cryptocurrencies could
double your money.
1. Bitcoin
Bitcoin is down 30% over the last year.
At its peak price, Bitcoin had a market
5. cap of slightly over $1.2 trillion. Its
market value is now $774 billion, or
42% of the value of all
cryptocurrencies, so a lot of money
needs to move back into Bitcoin for it
to return to its previous high
watermark — and exceed it — in order
to double from its current level.
But I believe that’s very doable. Despite
Bitcoin’s correlation with the stock
6. market recently, it’s increasingly being
used as an alternative asset like gold.
Wall Street banks are starting to
expand their coverage of Bitcoin, which
signals cryptocurrency is here to stay.
It’s estimated that 140 million people
own some Bitcoin. That far outstrips
the current supply of 18.99 million
coins, with the max supply set at 21
million. The high interest in Bitcoin
7. coupled with a fixed supply provides a
natural catalyst for higher prices over
time.
Of course, it’s impossible to pinpoint
when Bitcoin will return to its previous
high and double in value. But consider
there’s more than $10 trillion of global
wealth sitting in gold. As Wall Street
banks expand coverage, that will only
help more alternative assets shift to
9. 2. Ethereum
While Bitcoin appeals to investors for
its gold-like fixed supply, Ethereum is
attractive for its growing utility value.
It’s a community-run blockchain that
lets people without access to banks
borrow money, send payments, and
play games. It also supports the
growing market for tokenized art
collectibles, or non-fungible tokens
(NFTs).
10. The growth of the NFT market — the
fastest-growing space within the digital
economy — explains Ethereum’s sharp
rise over the last few years. Since the
end of 2020, Ethereum is up 292%
compared to Bitcoin’s return of 40%.
The NFT market is expected to reach
$80 billion in value by 2025, according
to Jefferies, or more than double the
estimate of $35 billion for 2022.
11. The price of ETH hit an all-time high of
$4,867 in 2021, but it currently trades
at about $2,840. Some investors are
worried about increasing competition
in the NFT space from the Solana
blockchain, but Ethereum’s network
still commands an 80% share of the
NFT market.
Solana has an advantage with its lower
transaction fees, but Ethereum’s
12. upcoming upgrade to its platform could
help neutralize that advantage. If all
goes well with the upgrade, analysts
believe the price of ETH could reach
$4,000 to $8,000 near term.
Given Ethereum’s lead in the
fastest-growing space of the digital
economy, I would give it the benefit of
the doubt for now. But note that the
competition in the NFT market makes
13. ETH a higher-risk cryptocurrency to
buy right now than Bitcoin. I own some
Bitcoin and believe it’s the best way to
gain exposure to the cryptocurrency
market, simply because it’s the most
widely held and has mainstream
appeal. These factors provide a floor for
demand that should support a higher
price over the long term.
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