Date: 2021-03-08 14:04:13
7 Cryptocurrencies prices and predictions so you know which to buy…and it’s not bitcoin! 💰 Get up to $250 in Bitcoin signup bonus on BlockFi https://mystockmarketbasics.com/blockfi
Bitcoin is the most popular crypto but it may not be the best investment. In fact, another cryptocurrency has a higher return over the last year and could be about to break out higher. In this video, I’ll give you a tutorial on seven cryptocurrencies including price predictions and how to invest in each. We’ll look at Ethereum (ETH), Litecoin (LTC), Paxos Gold (PAXG) and all the Stablecoins (USDT, USDC, GUSD, PAX).
We’ll be using the same crypto value analysis we did for bitcoin in last week’s video where I showed you two ways to value bitcoin and came to a price target of between $94,000 to $190,000 over the next few years. Check out that video and how to invest in the most popular crypto https://youtu.be/hrTVtv-caiE
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Ethereum isn’t as popular among investors but actually has more developers creating applications on the cryptocurrency platform. It’s more widely used in business processes and that could give it an advantage over bitcoin in price. The problem with Ethereum is that it’s not limited like bitcoin so the market value is spread across 100+ million coins rather than just 21 million. That’s a big factor in why Ethereum trades so much lower than bitcoin and my price prediction.
Litecoin has been called the silver to bitcoin’s gold and is very similar to the crypto. It was built with the same rules as bitcoin but is four-times faster in transactions. It also has four-times the tokens so that plays into the price and the potential investment return.
Paxos Gold and the Stablecoins are pegged to the value of other assets, gold or other currencies, so they are better used in transactions than as investments. The PAXG is a great way to get digital gold and invest but will not likely produce the returns of other cryptocurrencies like ETH or LTC. The Stablecoins are pegged to the dollar and have very little investment value.
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Joseph Hogue, CFA spent nearly a decade as an investment analyst for institutional firms and banks. He now helps people understand their financial lives through debt payoff strategies, investing and ways to save more money. He has appeared on Bloomberg and on sites like CNBC and Morningstar. He holds the Chartered Financial Analyst (CFA) designation and is a veteran of the Marine Corps.
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