Bitcoin has been a very lucrative investment for people that got into it early. One report from The Motley Fool pointed out that $10 of bitcoin purchased in 2010 would be worth $13.9 million in 2017.
Sadly, the days of making huge money in bitcoin appear to be over. An estimated 75% of bitcoin investors have lost money, since the price has been depressed in recent years. Fortunately, there are other cryptocurrencies worth investing in.
The Bitcoin (BTC) market has started the last weeks of the year with little volatility. According to cryptocurrency specialists, this suggests that investors of different levels maintain a period of uncertainty. On the slip side, higher levels of volatility would indicate that prices of cryptocurrencies will be followed by high increases.
Bitcoin appears to be more stable than other cryptocurrencies. On Wednesday, December 28, the price Ethereum (ETH) dropped below USD 1200. The world’s leading digital currency has not presented significant variations during December.
The creator of on-chain analytics resource Woobull, Willy Woo, has anticipated that the bear market that cryptocurrencies are going through could “be longer than 2018, but shorter than 2015,” according to a report by the Cointelegraph portal.
A report published by Forbes estimated that the losses produced by the so-called “cryptowinter” exceed USD 116 billion in the wealth of some 17 crypto investors and founders.
Based on the analysis of said media, these are the alternative digital currencies to Bitcoin that present a strong potential for profitability.
The first altcoin that presented a bullish possibility is Telegram’s digital currency, the Toncoin (TON), as the report claimed that it “has consolidated in an uptrend over the past few days.”
Based on various technical analyses, the portal specialized in digital assets suggested that the value of this cryptocurrency could reach USD 2.90.
The open-source digital currency Monero (XMR) is another of the cryptocurrencies featured in the aforementioned report. Although it has failed to “break above the descending wedge pattern resistance line” in recent times, it shows positive signs, according to the portal.
If buyers manage to push XMR above USD 144 through supply and demand, “it could reach USD 174,” explained the medium specialized in technical analysis.
Finally, the report remarked that the cryptocurrency trading on the Ethereum OKB platform (OKB) would be “close to completing a bullish reversal pattern.”
If its price breaks above the “psychological level of USD 25 soon, the pair could start a new bullish move towards USD 28 and then USD 31,” the medium predicted based on its technical analysis.