Bitcoin had hit a peak value of $20,000 sometime towards the end of 2017, following the prediction of 30-year-old multimillionaire Alex Saunders. When bitcoin hit a low of $ 8000, he added that even though the currency hit a low point, it will hit a peak eventually, saying these patterns remain similar to stocks and securities.
Predictions remain true this time but Mr. Saunders calls Ethereum ‘3-dimensional’ — due to its phenomenal blockchain system that can be easily considered better than that of Bitcoin’s blockchain. The reason is that Ethereum’s advanced blockchain technology has several other applications other than finance. Even though Bitcoin is so ‘hot’ right now, it’s total market cap is only $110 billion. Gold has a market cap of $ 7.8 trillion.
Having gained 1000% of his original portfolio, Saunders is a risk taker, investor and advisor in the crypto-trading industry. He considers crypto-trading his permanent job. Sander’s profits were large because he invested in Bitcoin sometime in 2012, when bitcoin wasn’t even hot. Catching on to trends is important, but Saunders also invests when he sees something for the long run, his switch to Ethereum was partially responsible for his 1000% gain, and he was attracted to the potential of EVM (Ethereum Virtual Machine).
Saunders says investing in price crashes may pay off but as per market cap, cryptoassets still have a lot to catch up to. It remains to be seen what happens in the long run, but things look good according to this 30-year old who is optimistic about his predictions.
Unlike the stock markets, cryptoasset trading does not have middlemen who get a part of your profits a.k.a. commissions. That’s why there is opportunity for investors to hold on to their profits as long as they understand the ups and downs of the digital asset they choose to trade.. The way it works is to switch between popular assets. For example, getting in on something like Ethereum that has the technology to power the future might be as good as the frontrunner i.e. Bitcoin. A good investment which is popular is good in the long run (but something like the second-best cryptoasset) is a good investment too — especially when bitcoin values reach their maximum level due to a short hike in the prices. These strategies can be helpful then to switch to a a cryptoasset like Ethereum, that has the potential to rise in future.
Saunders advises investors to read and research as much as possible before jumping into cryptoasset trading. He warns against trying to make fast money. Get used to the trading habits and patterns as there are continuous fluctuations in this market. All the money is made with vision, patience and by keeping a constant eye on your assets and their hikes in value.
The digital assets’ market is new. Trading in cryptoassets is completely autonomous. Decentralization will open up a new system of paying for goods and services. Vendors can accept and people can pay in cryptoassets for items they order online. The potential for blockchains is evident but investors have to be careful about the ongoing scams with some assets and even exchanges. Finding the right platform to trade your cryptoassets is crucial.
“Hackers are getting smarter, and better, said Saunders, in an interview with Gary Davis, another crypto-expert.
We live in an age where technology meets trading to increase investors’ wealth. The market cap of a particular form of investment such as cryptoassets grows or shrinks so quickly, that it is almost a volatile game. However, it has the potential for the smart investors and traders to make profits from their trading strategies.