This period must be one of the best moments in the lives of cryptocurrency investors, and probably the most challenging period in the minds of enthusiasts who want to jump into the moving train.
Bitcoin is currently trading a little above $11,300 as at press time, This is the first time it ever reached this height since 2018. Looking at the market trend, history is repeating itself, and a number of the digital assets are returning to their previous all-time high. This article will introduce some of the cryptocurrencies that are likely to go back to at least $1000.
Ethereum making this list is not a surprise to anyone who witnessed its incredible rise to about $1380 in January 2018. Since breaking through the thousands to that level, it took a deep fall to as low as $83 on 15 December 2018. In response to the market bull run, Ethereum is currently trading above $300 having recorded a significant improvement in its market capitalization.
It is important to note that the digital asset will make it into the thousands in a short period compared to its previous run. What makes this interesting is the adoption rate of the Ethereum blockchain.
Formula One recently entered a partnership deal to launch an Ethereum based blockchain game. Not just that, Carbon and AZTEC protocol joined hands to launch a stable privacy coin on the Ethereum network. This and much more adoption of the Ethereum blockchain and protocol will even accelerate the price back to $1000.
Bitcoin Cash, a fork of Bitcoin in 2017 made history by being the first ever cryptocurrency forked from Bitcoin to hit $4000. Bitcoin Cash took lesser time to hit that price high compared to Bitcoin, which used about seven years to do that.
Since reaching its all-time high, Bitcoin Cash dropped to as low as $113 in February 2019 before surging in price to hit a current price of $474. Bitcoin Cash was primarily created to be a better version of Bitcoin with improved block size limits, better transaction speed, and reasonable transaction fees. It has a Total supply of 21 million and an available supply of 17 million. Looking at its rate of price change, Bitcoin Cash would likely bounce back to trade above $1000.
Dash is one of the few most successful privacy coins on the internet. It has an available supply of just 8 million and an effective team.
In its previous run, Dash traded as high as $1500, before crashing down to $66 in February 2019. It is currently trading at $175, and will likely bounce back into the $1000s.
The performance of the digital asset is not by fluke as they engaged in multiple partnership deals, including an agreement with Kripto mobile to launch phones preloaded with Dash.
In addition to that, Dash has gained massive popularity in Latin America and is widely used in retail shops. The effort of the team has been the backbone to its success, making its current price undervalued.