Dogecoin has performed admirably the last month or so but how does it look for the long term? I believe that it will be one of the best performers in Q4 of this year. If you look at the price graph between DOGE and USD, the price right now has gone past its past 2 peaks, almost to its Feb. peak this year. If you look at the BTC/DOGE graph, it has almost reached higher than even in January of this year. This is better than almost all coins in the top 40 Alt. Coins. This combined with the positive sentiment of being listed at Yahoo Finance, about to be listed at Coinbase, and the DOGE-Ethereum Bridge makes me think that DOGECOIN will take off in Q4 of this year. It might have a slight temporary setback but overall, it is poised to hit another all-time high.
Most people who have crypto plan to buy more crypto
In a survey, it was revealed that 72% of people who already owned crypto say that they planned to buy more crypto later on. My question for those people is “what are you waiting for?”. The market has already lost over 70% since January and is at a very low point right now. It has testing the $6,000 3 or 4 times and each time that it has, it has bounced back in a short amount of time, signaling, that perhaps $5,800 or so may be the low water mark of this dip. Waiting around for the market to dip to $2000 or $3000 may not be a wise move since there is a good chance that it will never dip that far. Also with all the new adoption from car manufacturing to business solutions, to finances that cryptocurrency has recently gotten, the usage will soon go up and with it, price. You want to buy when the market is low, not when its already going up and most of the profits have already been taken so waiting for October or November for the Bull Run to start when everyone else is trying to get in may not be a very smart idea.
Tron: 5 reasons to buy
* I am not a professional financial adviser and this is not professional financial advice, just my opinion. I am not responsible for your gains or losses.
Tron has been making headlines recently while its price has held steady but here are five great reasons to buy TRON for the long term.
1. The price is low right now. Thanks to insider trading and a $74,000,000 short by someone inside Goldman(most likely), the Bitcoin market tanked by 15% a few days ago to $6300(now $6450) which means right now its probably a cheap buy-in price at around 2 cents.
2. Justin Sun just graduated from Jack Ma university(its not actually called Jack Ma university but he’s the boss) and the two are close. Rumor has it that they’ve already had a gentlemen’s agreement to partner TRON with Alibaba, but nothing is confirmed and it may not be true. If it is, such an announcement would make TRON’s price go through the roof.
3. Justin Sun himself is a tech-savvy and charismatic person. He knows the tech, but he also knows PR and he can spin and hype up developments to get the most free press and biggest price increases for TRON for new developments in the future.
4. TRON has started project Atlas which is going to leverage the millions of BitTorrent users hoping to make an marketplace with TRON as the base currency. If it works, I could imagine it being like iTunes store or Googleplay Store, which would be huge.
5. TVM – The Tron Virtual Machine just launched and is compatible with the Ethereum Virtual Machine which means you can run ERC20 tokens on the TRON network. This may eventually convince some ERC20 tokens to migrate over to the TRON network to increase usage. TRON has already passed EOS is number of accounts on the network and has passed Ethereum(temporarily at least) in number of transactions per day.
For these reasons, I believe TRON is a good long-term buy.
Dogecoin, Bytecoin, and Siacoin, its time to buy?
Ever since Coinbase last week announced the possibility of adding 40 new coins, I’ve been looking at three of them. Those three would be Dogecoin, Bytecoin, and Siacoin. Bytecoin has been generating lots of buzz and I think being added to coinbase, which has a good chance to be picked up by retirement and pension funds sometime in the future, will drive up both the demand and the price of the coin. People are also excited about the technical capabilities and potential of Bytecoin. Siacoin, I am excited about the service and product that they are going to offer. Being able to rent or sell unused hard drive space would fill a need and there is a big market for it. Once it gets in front of more eyes, I think it will go up. Dogecoin, I think, has a lot of potential as well, especially since it got listed in Robinhood and since it is used as a trade-in coin for smaller cryptos. It seems that the once meme-coin is gaining major traction and may become a staple in institutional funds in the future.
Why the current Pullback in the market is a short term one
The last week Bitcoin and the crypto market has suffered a major pullback and prices have dropped from $8500 to $6900 but I believe this is because of the fact that OkEx let a stupid whale place a long order that they could not even cover and therefore had to force their customers to liquidate to cover the losses. This obivously is a huge breaker of confidence in cryptocurrency and exchanges and will drag the market down with it, at least in the short term. We see this kind of pullback every time an exchange is hacked or breached. The rejection of the Bitcoin ETF also helps in getting bearish sentiment.
However, the large amount of good news coming out this week including coinbase releasing an easy way for thousands of online merchants to accept payments in Bitcoin, NYSE saying they may list Bitcoin soon, and Starbucks saying that they might soon accept Bitcoin at their stores is far stronger in the long run for Bitcoin than the recently short term news of OkEx and the rejection of the Bitcoin ETF(because one will eventually get approved).