It is no secret, that Wall Street absolutely despises cryptocurrencies. But the ones that really hate it and will try to do anything to stop it, are Central Banks. Actually, Wall Street has started to embrace the crypto evolution. Not only are they considering ETFs, but Bitcoin futures are now “a thing.”
I was reading a story of an ex banker, that decided to buy into Ethereum Classic when it was trading at just $0.50. According to the report, he thought at 50 cents, it was a good low risk/high reward situation, so decided to buy some for himself. Turns out, Ethereum Classic ran up to $47 (90X) before it fell back down. So it beat the hell out of bitcoin, by A LOT.
That is the case with a lot of cryptocurrencies. Bitcoin is the traditional and “old school” kind of coin (imagine saying that back in 2008 right? LOL) and it was pretty much the coin that drew everyone into this crypto “madness.” But from an “investment” (or gambling) point of view, there are a lot better cryptocurrencies that yield higher returns for risky gamblers. Basically, it’s simple mathematics: the lower the cost of a coin, the more times it can flop and fold, by multiplying earnings. In plain English: it’s easier for a $0.50 coin to double, than a $15,000 coin to double (or even triple for that matter.)
Some people are also looking into ICOs and buying into the token sales: the birth of the coin. For the most part, the coins are sold at under a dollar, or can even sell higher (if issued number of coins is smaller) but in most cases, these have gone up. Basically, people at the ICO stage, are able to reap great discounts, which gives them an edge on the crypto traders.
What do you think is the next big ICO, set to make its investors gazillions? I don’t know about gazillions, but I definitely recommend Rentberry. They are on the way to change the long term (6 or more months) home rental industry forever.