This Cryptocurrency Could Be the Next Bitcoin
Bitcoin, bitcoin, bitcoin, bitcoin, bitcoin, bitcoin…bitcoin. It’s all that anyone seems to be talking about, yet the volatility of Bitcoin is terrifying. Double-digit swings are a normal occurrence. And no one can explain what it does, at least not in plain English.
But there’s no denying that Bitcoin is a gold mine.
Investors who bought BTC coins in 2013 would have gained 2,411% by now. And those who “mined” the currency made even bigger returns.
For instance, in 2010, a random Bitcoin developer traded 10,000 bitcoins for two large pizzas. Nothing fancy, either. Just two ordinary Papa John’s pizzas.
He didn’t think much about it at the time because mining Bitcoin was something he did for fun; a little side project. Little did he know that it would go down in history as the first-ever Bitcoin transaction—and one of the greatest investment blunders of all time.
A British man took him up on the offer, paying roughly $25.00 for the pair of pizzas. And here’s the kicker: Those 10,000 tokens are worth $33.98 million today.
Please re-read that as many times as is necessary. $25.00 turned into $33.98 million over a seven-year span…
It’s a little hard to fathom, I know, but it’s well documented.
Despite the day-to-day flutterings of Bitcoin prices, naysayers in the media, and saboteurs in the banking community, Bitcoin minted a whole generation of new millionaires. That’s the bottom line.
Now there are other cryptocurrencies following its trajectory…
One of them is exploding with popularity. And its price chart looks eerily like Bitcoin’s did in the early years, though it gets far less publicity than Bitcoin.
It’s called Ripple.XRP Poised for Four-Digit Gains
Ripple trades under the symbol “XRP” and each token is worth $0.162543 (at the time of this writing). In a way, XRP is like a penny stock in the cryptocurrency world.
Don’t let Ripple’s unit price fool you, though, because it has a market cap of $6.23 billion. Much of that value was created this year, when Ripple prices exploded around May.
In a five-month span, from January to May this year, XRP surged by 6,119%. Those gains were watered down by a Bitcoin fork, an initial coin offering (ICO) bubble, and a Chinese regulatory crackdown. But Ripple’s long-term outlook remains golden.
It is designed to avoid Bitcoin’s pitfalls so, even when it follows the growth trajectory of Bitcoin, it can do so with greater stability. The market, however, has yet to appreciate the differences between Bitcoin and Ripple.
Ripple is an enterprise-focused blockchain, meaning it uses the same underlying technology as Bitcoin. But it appeals to banks, not individuals.
This makes a huge difference.
While Bitcoin is trying square off against the global banking community, Ripple is courting them onto its blockchain. It doesn’t want to replace the existing financial system—it wants to make customers of them.
In other words, XRP has a much easier road to success than BTC. It simply wants to disrupt the way we send money internationally, rather than burning down all the central banks and commercial banks in its path.Analyst Take:
At present, cryptocurrencies have only achieved one percent of market penetration.
Within that sliver, Ripple has approximately six percent of the overall pie. Most of the money is buried in Bitcoin and Ethereum, but I believe that two things will happen:More money will come into the cryptocurrency market. Ripple will have a bigger piece of the pie.
Both of these factors would contribute enormous gains to Ripple prices.
I estimate that XRP could reach $2.00 within 12 to 18 months. And, beyond that timeline, Ripple prices could soar to untold heights, providing investors with four-digit upside potential.