Everyone keeps asking me âwill this/that coin hit the value of $1 or $x?â In this post I will explain a few things so with a bit of your own research, youâll be answering this question yourself.
Letâs start with a few simple terms:
â Market Cap: Imagine the market cap as the total value of all the tokens or coins of a cryptocurrency combined. So, if a cryptocurrency has a market cap of $1 billion, it means all the tokens or coins together are worth $1 billion.
â Circulating Supply: This refers to the number of tokens or coins that are currently available and being traded in the market. The circulating supply affects the price because it determines how rare or abundant a cryptocurrency is.
Note: Market Cap = Price per Token * Circulating Supply
â Potential: When a token's value increases significantly, it can indicate strong potential for growth. Investors may see this as a sign that the cryptocurrency has something valuable to offer, whether it's technology, utility, or market demand. However, it's essential to research and understand the reasons behind the increase to assess the long-term potential accurately.
âĄïž Now with all this in mind, if a coinâs value is at 0.0001 and its circulating supply is 100 Million, then to reach $1 the market cap should equate to $100Million (market cap = $1 * 100Million). Which may be easily achievable. However, if the circulating supply is 1Trillion, reaching a market cap of $1Trillion is undoubtedly a significant milestone, it requires overcoming numerous hurdles and challenges inherent in the cryptocurrency space.
Now you can replace the value of $1 to any other value and calculate the market cap yourself. And with a bit of additional research, you can make an educated assumption if a token can reach the target value.
Like and share! Follow me as I will explain - in my next post - why reaching a high market cap is challenging as well as the factors contributing to it.
All I see is recycled, dishonest/fake, promotional, and stolen content here.
So hereâs some authentic news for a change (in case you werenât already informed of it):
The Artificial SuperIntelligence Alliance has approved the $ASI token merger and is expected to be launched on May 24th! đ
For those who donât know what this is:
The three influential de-centralized tokens $FET Fetch.ai, $OCEAN Ocean Protocol, and $AGIX SingularityNET, will be united through this merger to create a single de-centralized AI project called Artificial Superintelligence Alliance $ASI! This alliance signifies a huge milestone in terms of AI R&D (research & development).
Itâs a shame that people steal your content without giving you credit for it.
For example, this user (screenshot below) stole my content, changed a few words, keeping the same structure and the same language, posted it as their content⊠Couldâve given me credits for the post at least. But hey, because he has more followers, he gets away with it.
I donât have many #followers but I do my own research, I take my time to write my own content and try my best to educate people.
It's unlikely for Floki Inu to reach $1 per coin because it has around 9 trillion tokens in circulation. To hit $1 per coin, the project would need a market value of $9 trillion, which is far beyond the current size of the digital asset market, which is around $2 trillion.
In simpler terms: it is highly unlikely that FLOKI will ever reach $1
PLEASE DO NOT INVEST IN âGAINERSâ đ AND AVOID âLOSERSâ đ I cannot stress this enough!!!
Now this may sound like a logical advice for some of you, but trust me when I say this, many of my friends and peers think exactly like this.
Keep in mind the market is ALWAYS fluctuating, some great coins may be fluctuating along with it. Looking at just those two categories and investing could seriously hurt your investments.
đ It may seem attractive to see some coins under the gainer category and think âI should invest in this because itâs growing and would yield in profitâ but thatâs WRONG ââ A gainer does NOT mean a permanent incremental steady growth.
đ Nor should you avoid investing in âlosersâ thinking youâll lose your money. If anything, investing in âlosersâ (especially during a pullback period) would be your best bet, but of course you must do your own research before. Always read about the token and understand for yourself if the token is under the loser category because of a fluctuation in the market, or if itâs being delisted, or any other reason.
Look at my last two posts and see the value going up for yourself đ
I always advise people not to panic sell, as that may result in a loss; instead I advise them to invest more, because once the market stabilizes, theyâll make profits. And letâs say, they did incur losses and the coins they invested in never recovered, the alts they invested when the market was down would yield a profit, which could potentially make up for the losses.
$FTM is a great token to invest when the market is down. However, I invested 3 years ago and ended up incurring a 75% loss.
But I did NOT sell, because I did my research and had hope itâll go back up. Even though the price is going up, Iâm still at a loss but Iâm holding, because the coin has great potential and can definitely surpass its ATH of $3.46
I keep reading some people say that BTC is going to drop to $50k, then I read other people saying itâs going to go back up to $72k.
Now I know this may leave some of you conflicted as to whether or not you should sell it, especially when you read two opposing views. Some of you may be incurring losses because of the market, thus waiting for the market to stabilize, but you may also be stressed about a further drop.
These fluctuations are called âpullbacksâ in the market. Itâs quite normal to see pullbacks after a steady growth in the market.
NOW whether or not you should sell your $BTC tokens, thatâs a decision ONLY for you to make. I will not advise any of you to keep or sell your tokens. The decision should not come from the people posting on here, but from you and your research.
But I can advise you the following to help you keep your cool: - You could potentially wait for the market to stabilize a little so you do not incur and losses and sell - Or you could sell now (if no losses) before it gets worse. - You could also hold and see how it goes, but keep in mind, donât get too greedy.
At the end of the day, make a rational decision to ensure you do not incur massive losses.
Todays market is down by 10-12% đ To me that is a 10-12% gain đ
You wonder how because most of you are probably thinking âright now is not a good time to investâ, but I always tell myself otherwise.
Thereâs no better time to invest than when the market is down. Especially in low-mid risk tokens such as $BNB $XRP $ADA aside from $ BTC $ ETH and $ SOL of course.
Do not blindly invest in these coins ONLY, do your own research and make your own judgement!
NVIDIA conference is NOT âsell the newsâ for AI tokens.
The founder of Render Network Jules Urbach is slated to speak at the upcoming NVIDIA GTC 2024 conference in just 4 days, potentially boosting the price prospects for the RNDR token
On the day of the event you may see an actual dump, however donât be let that scare you. You could keep holding it as it will potentially rise again. Always do your own research!