Only four cryptocurrencies will achieve the same success as Bitcoin and Ethereum and rise more than 1,000%, says analyst



Although there are more than 10,000 different cryptocurrencies in the broad cryptoactive market, according to the investor and former executive of Goldman Sachs, Raoul Pal, only four altcoins will make it have the same success as the two largest cryptocurrencies in the market Bitcoin (BTC) and Ethereum (ETH) and, as a result, rise by more than 1,000% over the years.

Former Executive of Goldman Sachs points that although many cryptocurrencies have managed to register large appreciation movements, most of them, it has no purpose and neither will they be able to sustain themselves for long and follow the adoption of BTC and ETH.

According to him, one of the promising cryptocurrencies that could follow the top two cryptocurrencies on the market is the Solana (SOL) smart contract platform which, for him, reflects Ethereum almost perfectly.

“Ethereum is exactly following, and I mean exactly following Bitcoin in 2017, both in price and pricing structure. I bet Solana is following Ethereum in 2017. If anyone was in the market at that time, Ethereum was the rocket that took everyone by surprise, and guess what… the graphics are identical,” he said.

The executive points out that the Ethereum graphics, Solana and Bitcoin are practically a mirror, both in value and in adoption.

“And the prices are the same. Solana is following Ethereum exactly, Ethereum is following Bitcoin exactly… it’s like the magic is all in this network adoption,” he pointed out.

Upward cryptocurrencies

Pal also points out that, after Solana, three other altcoins, all of them platforms for building smart contracts, decentralized finance (DeFi), daaps, NFTs, CBDCs and other blockchain applications.

For him, Earth (LUNA), Avalanche (AVAX) and Polkadot (DOT), are the cryptocurrencies that can have the same success as Bitcoin and Ethereum and conquer not only the market but help shape a new digital and decentralized society.

“the others [três] that are in that phase of rapid growth and rapid adoption, where you see exponential price increases more than anything else, are obviously Terra, probably Avalanche and probably Polkadot. And I think they’re all going to do well this cycle. And like Ethereum, they will all sink much later. And then, based on that, we will see how they develop”, he stated.

Pal explains that he likes these platforms because of the number of projects developers are developing on them.

“It’s bizarrely consistent. I never thought that was the case, because you see everyone online, it’s like, ‘My project, my project.’ But when you balance everything and just apply the adoption effects they are almost identical. Which is amazing,” he said.

Furthermore, for the investor, the more decentralized the protocol, the more it will have a chance of increasing its adoption curve and, therefore, the greater its chance of success.

“It’s a risk curve. That’s why Bitcoin sits at the bottom of the risk pile. [Bitcoin é] the fundamental asset because it is the most decentralized. It’s not rocket science. But when they become less decentralized, then they are riskier assets. [Isso] doesn’t mean they don’t play a role, [mas] they cannot necessarily play the role of being that kind of reserve asset. They have an element of risk that is more difficult to set the price, which Bitcoin does not have.”

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Thomas Miles

Cryptocurrency is the most recently discovered currency which will be likely at the help of modernization across the next few decades. With a limited control from the government, the crypto market is independent of many features of a sound market as we know it. Thomas brings these stories to us by weaving them into articles of general importance to all those looking at the fluctuations in the market, or new entries. Thomas is also the founder of Bulletin Bits and is an excellent leader. His leadership is the kind that makes him the most knowledgeable and experienced on the team. His wonderful work ethic and attitude are worthy of imitation!

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