The way the market has been this year, it looks as if there could be a resurgence of Bitcoin’s past glory we saw in the second half of 2017. In July 2017, Bitcoin was worth $2,700. Within 6 months, Bitcoin shot up to $20,000 (280377.00 ZAR), increasing in value by 640%. Could we expect the same for this year? Following the boom Bitcoin brought to the crypto world, many investors turned to altcoins to make a profit. People have been moving to Cardano (ADA), Ripple (XRP), Litecoin (LTC) and many more. Is a Cardano investment your best bet? These 3 coins have a lot going for them, so we will be taking a look at what makes crypto investors think twice about these digital assets.
Ripple (XRP): XRP has recently rebranded in an effort to detach the digital asset (XRP) from the company of Ripple. Part of this is due to the fact that the SEC is still yet to classify the XRP digital asset as a security or not. On top of this, there are also 3 pending lawsuits against Ripple, all claiming that XRP is a security, stating that the company fails to state it as such. Currently, the outcomes of these lawsuits are unknown, which consequently makes investors step away from ripple due to the uncertainty of its future. Be that as it may, XRP currently has the 3rd largest market cap in the cryptocurrency market, currently at $20,666,258,060 (289,717,171,804.43 ZAR).
Litecoin (LTC): LTC has recently acquired a 9.9% stake in Germany’s WEB bank. This was done through a partnership with TokenPay which also touches on Verge (XVG) indirectly. This is a result of TokenPay and Verge being close partners. Currently, Litecoin is trying to recover from the community’s disappointment in Litepay. Not to mention the FUD that Charlie Lee sold out on the project. As a matter of fact, Charlie removed his metaphorical boxing gloves and decided to respond to criticism directly on Twitter. He has stated the following:
I’m trying my best to get LTC to $400 so people like you will stop shitting on me all the time. Who abandoned LTC?!
$ADA Cardano, Potential Coinbase listing. Fractal running smooth, expect a test pump by November the 7th. Indicators looking bullish and continuous news and development flow! I expect a high end target around 0.00015 Satoshi within the first quarter of 2019. pic.twitter.com/opSF5Nt4sK
— Moon$hot (@MoonShot33) November 3, 2018
Cardano is a fairly new cryptocurrency as its initial release was in 2015. But in switching your attention to Cardano, you’ll notice the coin is becoming more attractive by the day. Recently it was stated that Coinbase, one of the largest exchanges in the world, is considering adding ADA to their platform. As well as this, they were considering adding BAT, XLM, ZRX, and ZEC. This news caused an eruption for the value of these digital assets in a matter of hours. Coinbase adding ADAto their platform would be an affirmation that making a Cardano investment is a solid option. Coinbase is known for only picking the best digital assets available, and provide services for institutional investors.
On another note, Charles Hoskinson, CEO of IOHK co-founder of Cardano, expressed his vision for Cardano, stating the following:
I would love to see Cardano as the first trillion dollar cryptocurrency and the reason being is that that would effectively mean that we have built a self-sustaining economy.
The Cardano project is driven solely by research. Because of this, it would be no surprise if his vision becomes a reality in the near future. With a dedicated team behind the project and strong support from the community, there is huge potential for Cardano. It should be common practice for everyone to look into who is behind the project you are investing in. In this case, when making a Cardano investment, research the team. Chances are, you will be met with nothing but interesting and exciting information when looking behind the project.
As a result, it could be a wise idea to stock up on some Cardano and HODL your crypto coins. XRP is looking too uncertain to invest in right now, and LTC has some progress to make. With BTC looking to make another bull run, early investment choices will make a huge difference.
And do not forget, if you are about to invest in Cardano – iCE3X is always here with you!
Will you be making a Cardano investment this year? If not, which cryptocurrency do you think is worth taking a look at? Let us know your thoughts in the comments below!
This article is intended to educate and should in no way be seen as investment advice or an enticement to use the ice3x.com platform. Bitcoin is highly volatile with big profit opportunities but you should also remember that you could lose part or all of your investment whenever you take part in any high risk investment. Bitcoin trading is not a regulated industry in South Africa, which in itself carries additional risks. IF YOU ARE NOT AN ASTUTE BITCOIN TRADER, SEEK INDEPENDENT FINANCIAL ADVICE BEFORE MAKING ANY INVESTMENTS.