The market is rough this morning. There is no denying that Bitcoin (BTC), being the leader of the pack, had fallen to an all time low of $6,730 less than 24 hours ago. And with it, it dragged down two of our favorite top 10 coins under a dollar: Ripple (XRP) and Steller (XLM). Ripple is ranked 3rd on coinmarketcap.com and Stellar is ranked 8th.
Bitcoin (BTC) has since shown some recovery and is currently trading at $7,214 and at the moment of writing this.
But with such dips, comes opportunity of getting your hands dirty once again in the markets. The last time Ripple was trading at the current levels of around $0.51 was mid December, 2017 before the ‘Gold rush’ in the crypto markets that resulted in Ripple peaking at $3.79 less than a month later on January 4th. This was an increase of 643%.
Stellar on the other hand is currently trading at $0.19. These prices were also last seen in Mid December last year before everyone rushed to buy cryptocurrencies before Christmas. The rush also assisted Steller to moon temporarily at $0.90 on January 4th: an increase of 373%.
Also to note is the prediction by Abra CEO, Bill Barhydt, who is quoted as saying All Hell Will Break Loose once the big investors in the West realize the potential of cryptocurrencies, as much as our Japanese counterparts have discovered. To remember, SBI Holdings, a conglomerate of Japanese banks, was one of the first banking institutions to embrace Ripple with open arms.
Barhydt his quoted as saying:
“I talk to hedge funds, high net worth individuals, even commodity speculators. They look at the volatility in the crypto markets and they see it as a huge opportunity. Once that happens, all hell will break loose. Once the floodgates are opened, they’re opened.”
Perhaps what these high net worth investors are waiting for, is the opportunity that has currently presented itself with a week Bitcoin that has dragged the entire market down with it. Perhaps it is time to take a gamble and stock up on two of the most undervalued and most promising crypto assets in the Crypto-Verse: Ripple and Stellar.
What I do know, and what my gut tells me, is that Crypto is here to stay. Evidence of this can be seen with China announcing plans of releasing its own centralized digital currency. This means its own Central Bank will act as the regulatory body. If this is not a sign of mainstream adoption, I do not know what is.
