If the cryptocurrency market overall or a digital asset is solving a problem, it’s going to drive some value.
– Brad Garlinghouse, CEO of Ripple (the company behind XRP)
While that quote may be slightly biased considering the person who said it is the CEO of a major coin in the crypto game, that doesn’t make it wrong. Allow me to also preface this post by stating that I currently am not invested in any actual cryptocurrency, I just pay close attention to crypto markets as I invest in some of the stocks they support and have been heavily invested in cryptocurrencies in the past. So if the following opinions of mine are biased in any way, they’re more likely biased towards not owning any crypto. In addition, it should be noted that Bitcoin in the 1 outlier I’m not including in my analysis because of it’s rising price/value due to it being one of the only ways for Russians outside of the country to send their fellow citizens money due to the global blockade against the Russian financial system.
Now that I’ve made my true intentions clear, if you haven’t yet jumped onto the “crypto train” or have gotten off to wait at the station for the next caravan right now is the best opportunity you’ll have until the next major breakthrough happens in blockchain. And that’s not happening anytime soon. In fact, I would liken the present time in cryptocurrency to the very early days of Bitcoin, where if you would have only listened to that one friend and used your life savings to buy up as many coins at $40 a pop as you could… you would be a very rich man/woman.
Many readers right now are probably wondering why I would make such an absurd statement, so allow me to explain. What’s the number one reason the majority of cryptocurrencies have been on a steady decline? Many different 2 word phrases… “market uncertainty”, “market volatility”, “market stagflation”, I could keep going. The main 2 causes for these 2 word phrases are The War in Ukraine and inflation, or should I say the “fear” of the U.S.’s impending inflation which has just recently begun. What do both of these causes have in common? They both will come to an end, one sooner than the other. I would venture to say the Ukraine conflict will be the first to end and in the very near future based on how much value the Russian Ruble has lost since the war began. In fact, according to Yahoo Finance, the Ruble is “crashing” (article)
I get it, a completely objective point I just attempted to make. So let’s dive into a some non-quantified market charts to look at it from a bit more subjective of an angle. Here’s a quick screenshot I took from my Coinbase account of the 3rd — 11th most popular crypto currencies, just below Bitcoin (1st) and Bitcoin Cash (2nd):
Above I’ve circled 8 of the 8 coins in 2 colors, green and yellow. The green represents stocks that are showing an angle close to an ‘Ascending Triangle’ which is considered a “bullish” pattern (meaning they’re poised for an increase in value), while the yellow are showing the end of a “double top”, considered a “bearish reversal pattern” and unless it’s representing the complete devaluation of a stock, the next phase in the graph is almost always a bullish pattern. Here’s a quick cheat sheet I like to use that includes both of these specific patterns as well as several others:
Here’s an example of that bullish pattern which occurs after the double top bearish reversal pattern:
These patterns from the nine cryptocurrencies I selected continue down the page for the majority of the top 50 cryptos. While I think you should still be very wary and study as much as you can about each of these coins before you make a sizable investment in any, what these overall patterns tell me is that there are going to be many different cryptos that will gain a large amount of value at some point in the near future.
I think that many of these cryptos haven’t quite hit their lowest prices yet before the next bullish pattern, trust me when I say, right now is the time to start STUDYING and to start PLANNING your next investment strategy and a portion of it should be in crypto.
Have any thoughts, objections or agreements? I’d love to hear your reasoning in the comments below and would appreciate any applause for my research!
And for any of you wanting any “normal” stock market tips related to today’s post, I leave you with this quote by Erik Voorhees, the founder of Shapeshift, one of the most popular cryptocurrency trading platforms…
Whenever the price of cryptocurrency is rallying, people start spending a lot more.
– Erik Voorhees
Oh, and lastly, if you ‘re interested in some great apps for investing by purchasing cryptocurrency, here are my top 5 along with some rewards for signing up:
ROBINHOOD — Mobile Investing App (Crypto & Stocks)
< a class="eg ku" href="https://join.robinhood.com/matthek-da3639" rel="noopener ugc nofollow" target="_blank">Sign up here for Robinhood, link a payment method and collect up to $200 in factional stocks!
MooMoo — Investing App (Crypto & Stocks)
Use this link to Download the MooMoo App, Sign up for a FUTU account, deposit $100 and Get 1 Free stock worth up to $300!
COINBASE — Buy/Sell/Send/Receive Crypto
Sign up using this link and get $10 from Coinbase to invest with after buying or selling $100 worth of Crypto!
PUBLIC — Mobile Investing App (Crypto & Stocks)
Sign up using this link, deposit $10 and you’ll receive 1 random share or slice of stock worth between $3 to $300!
VENMO — Mobile Wallet (with Crypto)
Venmo now offers the ability to purchase crypto through your Venmo wallet. Simply sign up here!
- Coinsmart. Europe’s Best Bitcoin and Crypto Exchange.
- Platoblockchain. Web3 Metaverse Intelligence. Knowledge Amplified. FREE ACCESS.
- CryptoHawk. Altcoin Radar. Free Trial.
- Source: https://medium.com/@747_FiRM/want-to-invest-in-crypto-here-are-visuals-to-demonstrate-why-the-time-is-now-ca9bfa7017f?source=rss——cryptocurrency-5
