Banks are collapsing, and interest rates and inflation are at an all-time high however Cryptocurrencies are stable and profitable. If you haven’t heard, then you need to know that Silvergate Bank on March 8th announced plans to liquidate its assets. This resulted in stock prices plummeting from $146 per share down to $2 within a year. This means that a bank that had been in operation since 1988 & started providing services to cryptocurrency users in 2016. The IPO launched in November 2019 with a starting price of $13 however by November 2021 the value had increased to $219.
Bitcoin and ETH
Unfortunately, it is a bit late for the average Joe to invest In Bitcoin (BTC) and Ethereum (ETH) without making a significant investment. However, if you have invested in the early days of BTH in 2010 then you would have been able to start trading at $0.0008. BTH slowly started to increase its value and was being traded at $0.08 at the end of the month. In April 2013, investors and traders witnessed the first volatile spike which saw the value increase to $250. BTC had an all-time high of $68,789 in 2021 and is currently being traded at $28,282 where it has recovered from a low of $16,441 In November 2021. The current market cap for BTC is $545.78 billion.
Ethereum is the second highest-valued cryptocurrency after BTC with a launch price of $0.74 in 2015. In 2016 a single ETH was being traded for anywhere between $7-$10. In 2017 we saw ETH rocket to $1,600 and fall to $80 in its most volatile year. The all-time high for ETH was in November 2021 when it was valued at $4,815. In November 2022 ETH was being traded at $1,124 with its current trading price as $1,781.35 as of March 2023. The total market cap for ETH is $215.31 billion.
Alternative Coins
The truth is that once a coin has established its value, it then becomes a difficult investment as compared to new options. Anything besides BTC is considered an Altcoin with ETH being the most popular Altcoin.
The 2nd most popular Altcoin or 3rd most popular cryptocurrency is Binance Coin (BNB) which was created in July 2017. BNB launched and was traded at $0.10 and within a year was valued at $13.21. The highest value for BNB has been from November 2021, when it was traded at $623.82. The lowest valuation in recent history was in June 2022 when the Coin was traded for $219.37 but has since recovered and is being traded at $333.03 as of today. The current market cap for BNB is $53.62 billion.
Meme Coins
Another subcategory of Altcoins has emerged and is known as Meme Coins with Dogecoin (DOGE) being the most popular. These coins started as a meme to mock popular cryptocurrencies however established themselves as viable Altcoins – Meme Coins.
DOGE launched in 2013 and was being traded at $0.00 and within 2 weeks of launching investors saw the price increase from $0.0002 to $0.0023. Due to the minuscule value of the coin, it was often used to tip one another which eventually evolved into charitable contributions totaling $170 thousand in 2014. It was until 2017 that DOGE started to gain traction in terms of value where it started the year off at $0.00022 and closed at $0.01010. The highest valuation of DOGE was seen in 2021 with an all-time high of $0.682 and is currently being traded at $0.072
Pre-sale Cryptocurrency
So how does one get in on the ground floor when it comes to purchasing crypto, the answer is with pre-sales. New Coins do not launch all the time and often go through several rounds of fundraising if they take themselves seriously. Big Eyes Coin (BIG) is a new up-and-coming coin that is expected to launch once it reaches a $50 million purse. About 2 weeks ago the purse value was $30 million and at this time the valuation of the purse has reached nearly $ 32 million. It is simple to say that BIG is being taken seriously and at this rate is expected to launch within the next 3 months which means time to invest is limited.
BIG is currently valued at $0.00049 with the prices expected to reach $0.0006 once live and is currently being sold at undervalue. Once the BIG is live, the value is expected to rapidly increase. Many wish they know about BTC or ETH before the coins soared in value and popularity so that they had the opportunity to invest. Not knowing is one thing and then knowing and not choosing to move forward is another where you would only have yourself to blame.
