The Bitcoin price could reach $1M. This is one of the crazy information you will get watching TV.
In a segment of Making Money June 30, anchor Charles Payne hosted a celebration of Bitcoin, the latest rally of which could see it reach $1 mln “within the next few years,” he agreed. Image and Source: Cointelegraph.com
Don’t get me wrong, this is music to my ears. I want cryptocurrencies to be successful. But the problem is, Bitcoin is not the only cryptocurrencies on the market today. Here’s the Top 20 cryptocurrencies as of today. Ethereum (ETH) closing in at $289 with a $26.9B market cap. Ripple (XRP) price at low $0.261127 with a $9.9B market cap. Litecoin (LTC) price at $48.16 with at $2.49B market cap. And four other cryptocurrencies at least in $1B market cap e.g. Ethereum Classic (ETC) $1.69B, NEM (XEM) $1.5B, Dash (DASH) $1.3B and IOTA (MIOTA) $1B market cap.
Top 20 as of July 3, 2017.
You will never know in the distant future that one of the Top 10 cryptocurrencies will overthrown Bitcoin on the top spot. A good example is Ethereum (ETH) who’s decentralized platform making it easier for small companies to create their own cryptocurrency (Token) which I published the step-by-step guide on how to create your own Token and I’ve created our very own QUE coins for private use.
How about Ripple (XRP) that works in the background, enabling banks to send real-time international payment around the world, cheaper, secured and decentralized network. Most people don’t see XRP transaction, but in the future Ripple will receive a piece of pie of every bank transactions.
Another crypto STEEM currently at 17th spot of Top 20, transforming social media “Your voice is worth something“. Yes literally, your voice is worth something. When you sign up to create an account you get STEEM Dollar which you can exchange to US$ or local currency. When you post, comment and Up Vote, you get a shares. An Author get 75% and curators receive 25% shares. My point is every time you participate you get some $ on your wallet. The steemit.com community is a direct competition to all social media out there. Watch out Facebook, Twitter, Reddit and other social network out there. Time is money, I rather spend my time on a social media who will pay me generously.
As always, do your own due diligence before investing your hard earned money.
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Image graph from coinmarketcap.com