Bitcoin Isn’t the Only Crypto That Can Make You Rich
As the world wakes up to the vast potential of blockchain platforms, several cryptocurrencies hold massive profit potential.
Over the last year, Bitcoin investors have been handsomely rewarded as its value soared by as much as 587%.
But Bitcoin is far from the only cryptocurrency game in town.
In fact, the profits achieved by some of the digital market’s most popular cryptocurrencies in the last twelve months dwarf even Bitcoin’s impressive gains.
But just because we’ve already seen huge moves from a few coins doesn’t mean you’ve missed your chance.
Right now, there are a wealth of profit opportunities for those looking to make money in the crypto markets.
And I’ve got one name that I believe is positioned to be the next big thing.
Where’s the money?
As cryptocurrency grows ever more popular and mainstream, the biggest names in the market are thriving.
Over the last month, we’ve watched Dogecoin increase its value more than ten-fold. But many analysts see that as merely a “meme coin” with no intrinsic value that’s been driven only by high demand.
For a less speculative, though no less lucrative opportunity, you don’t need to look far down the list past Bitcoin.
Yesterday, Ether – the second most popular cryptocurrency in the world – rose by roughly 7% to an all-time high of $4,213. And unlike Dogecoin, Ether has legitimate value as the native currency of a widely-used blockchain.
Ether is also being buoyed by the rise in popularity of non-fungible tokens (NFT) – a sort of digital collectibles that are run on the Ethereum blockchain.
The big move yesterday caps off an outstanding year for Ether in which its value has skyrocketed nearly $2,130%.
So, with Ether looking like it could finally emerge from the shadow of Bitcoin, is it the right opportunity for you now?
Here’s my opinion…
How do I get some?
Every cryptocurrency has its ups and downs. Timing is crucial in trading, and I don’t believe now is the time to jump into Ether.
Now, don’t get me wrong. I think Ether has a bright future ahead of it, and there are going to be times where I’ll look to buy.
I just think it has moved too much, too fast and I believe it will get a pullback in the near future.
But if you’re looking to put some money to work in the digital market, my favorite name in the space is Iota.
We’ve talked a lot here in Profit Pregame about what a massive boom I’m expecting for the self-driving vehicle industry.
And some of the biggest ridesharing stocks in the market could be challenged in the coming years by self-driving vehicles with the help of Iota.
Eventually, self-driving cars will need their own private wallet as well as a secure and reliable platform to record usage data. Iota provides both.
So, if you’re looking for the next big thing in crypto, look no further than Iota.
This Might Be the Best Year Yet for the Digital Market
In general, the microcurrency market as a whole experienced a spike.
My friend and colleague Tom Gentile has been predicting that microcurrencies will have a banner year in 2021, and so far, he’s been on point.
Just last week, subscribers of Microcurrency Trader had the chance to rake in an enormous 1,000% profit on a small microcurrency that Tom recommended back in June.
And that’s just one of the 54 winning trades – and only 6 losing trades – Tom has advised his followers to close out so far this year.
If the rest of the year looks anything like the first few months has, you’ll want to get on board before Tom’s next round of recommendations in Microcurrency Trader.
In the Spotlight: Another One Bites the Dust…
I’ve said it before and I’ll say it again…
In general, I don’t trust IPO valuations.
And this week, we have yet another example of why I rarely recommend jumping into a new stock offering.
Time and time again, we see hype and excitement get the better of investors – leading to huge overvaluations on IPOs.
We saw it again this past week as The Honest Company, Inc. (HNST) – a beauty and personal care products company started by actress Jessica Alba – boomed 44% on its first day of trading.
But after two consecutive trading days with sharp declines, the stock is nearly back to its IPO price of $16.
Now, I’m not saying this of any other company’s IPO isn’t worth buying. But investors need to recognize the pattern of big gains followed by sharp drops that often occur in IPOs.
My preference is to wait until the hype dies down before determining if a newly offered stock is worth a buy.