With annual gains upwards of 500% and over 3000% on several top cryptocurrencies in 2017 including Ripple and Bitcoin, get ready for 2018.
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And now, get ready. As we enter the new year there are several indicators pointing toward significant gains in the $550 billion cryptocurrency market.
1. The dollar just had an awful year. With an annual loss of 10%, it was the dollar’s worst year since 2003.
2. Ripple raced past Bitcoin to dominate volume, showing interest in altcoins that have fast transaction speeds.
3. Venezuela is set to launch a new oil-backed “petro” cryptocurrency to help stabilize its flailing economy.
4. Bankers are trying to keep the narrative stuck on pause by calling Bitcoin “Fool’s Gold”, despite rising altcoins.
5. The Chinese remain staunch traders, despite government restrictions, placing powerhouse altcoins in position for potentially major gains: Qtum, Eos, Neo, Tron.
6. New money is interested in cryptocurrencies with Coinbase adding record-breaking numbers of new users throughout November and December.
7. Coinbase, the largest US exchange, is scheduled to add several new altcoins in January, creating gateways to new altcoins with new fiat.
8. Privacy coins will continue to be alluring as the wealthy and the less wealthy look for ways to move their money.
9. High-yield” CEF, REIF, MLP and other traditional investments had significantly lower annual yields than top cryptocurrencies.
10. Savings accounts at Chase, Wells Fargo, Bank of America and other big banks continue to offer minuscule annual interest rates between .01-.08%.