Two cryptos are about to explode, assuming these two things happen.
Before we go over the two cryptos, I want to show you guys something very interesting. Remember that I am not a financial advisor, and make sure to always do your research right after this article.
Now you have to know that November is historically a great month for cryptocurrency. Especially for Bitcoin.
As you can see from this graph, we’ve always had green months for crypto except for 2019 and 2018. We’ve had a 449 percent gain in 2013 and a 53 percent gain in 2017. And the only red months we had were in 2018 and 2019, followed by a 42 percent return in 2020 and a three percent return so far in November. So historically, green months are on our side, and we also have the entire crypto market cap getting close to 3 trillion dollars, with SOL, Ether, Dot starting to reach all-time highs after all-time highs. And we also have Solana, Cardano in terms of market cap. Lastly, we need to go over Bitcoin’s price action from 2017 to now as they are getting very similar.
And this is going to determine when we can expect to see altcoins go parabolic. Because you have seen nothing yet, if we compare Bitcoin’s price action to November of 2017, we can see that the next leg up for Bitcoin is coming very close to starting this parabolic move for the entire crypto market. I mean, just look how similar the shard is to the one from 2017. The similarities are on the dot. And so now, for the two crypto coins that we need to talk about in this video, first we have Polkadot.
Polkadot
Currently, Polkadot is sitting at the number eight spot with a market cap of 50 billion dollars and a current price of 52 dollars. And you can see the excitement around Polkadot as the highly anticipated perishing auctions are about to go live. And if we continue to see the excitement for dod in the coming days until parishes go live, we could even see Polkadot taking the fifth number spot as the top cryptocurrency in the world by market cap.
I could be wrong, but only time will tell either way; we should remain very bullish on the entire crypto market now. If you’d like to learn more about Polkadot, I’ve made several videos on the dot before. So I will link them right here for you to check out, and now for crypto, number two will be Cardano.
Cardano
Now Cardano has taken the fifth number spot again with a current market cap of 68 billion dollars, and he’s currently trading at two dollars and six cents. Now I will always tell you guys to not sleep on ada, and I’ve told you guys that ada under two dollars was a gift. So if you caught ada under two dollars, let me know down in the comments below. And we also have the Cardano foundation just announcing earlier this week that the number of ADA wallets has reached two million. That is an insane increase for just one million ada wallets in may of this year.
They have also established the Alonzo hard fork during that time, which allows smart contracts to work on the network. We also have Charles giving us an update on his focus on expanding blockchain technology in Africa. He also told us that five million Eutopian students are on track to get digital ids on the Cardano blockchain.
Charles: “We are going to keep adding resources to the hydra. We’ve been trying to identify some so we can parallelize the workstream because it’s such a high commercial priority. And it’s going to be very important that we’ll be able to upload a large number of the transaction traffic that’s going to come from all the applications that are coming.
Charles: “Hydra is going very well. I mentioned in the introduction a huge amount of work is going into it, and we’re going to keep adding resources to the hydra. We’ve been trying to identify some teams to accelerate parallelized workstreams because it’s such a high commercial priority. And it’s going to be very important that we’d be able to offload a large amount of the transaction traffic. That’s going to come from all of the apps that are coming, you know, as the PME comes online, you know Cardano is going to get hammered by an enormous amount of traffic that’s fun. But you know obviously, you need to segregate and especially for microtransactions and so especially the stuff with world mobile the telecommunications traffic that’s coming because it’s 1.8 million users frequent use every single day wallet on their phone this type of stuff. So hydra’s a necessity for that, so we must get that out promptly. So there is still a little bit of research going on there, but I think we’re converging to a pretty good idea of a 1.0.”
So again, I would not sleep on ada as we’ve seen the price go sideways for a long time now. And I know that it can be painful and boring, but we also have to remember that from 2018 to 2020, we saw ADA trading at between three to 12 cents, and that’s before it took a parabolic move up to two dollars close to three dollars earlier this year. So do not worry about ADA’s price as that is very normal before its next leg up, at least in my opinion. So let me know down in the comments below if you hold Polkadot or Cardano or if you hold both in your portfolio.