Bitcoin broke through yesterday's new high again at 7 AM on November 12, reaching $89,530. With Bitcoin's rise, Ethereum, Dogecoin, and other popular digital currencies have also surged. Based on current trends, breaking $100,000 may happen in November.
So, should we buy Bitcoin now?
I believe buying Bitcoin now is not the best choice. Firstly, Bitcoin's price is high, nearly 700,000 RMB for one Bitcoin. Even if it rises to $100,000, the return would only be about 15%. Moreover, not many people can suddenly invest such large amounts in the crypto space. Bitcoin has a total supply of 21 million coins, which gives it rarity and high demand. Since more people are buying, Bitcoin's price will increase in the future. If you have sufficient funds, buying Bitcoin is definitely a good option.
Many people say that investing in this meme coin right now, which has potential for dozens or even hundreds of times returns, is risky. To be honest, even if there are coins with hundreds of times potential, it doesn't necessarily mean they will benefit us. Some people are already reaping hundreds of times returns on-chain, and the risks are also significant, with a high chance of losing over 90%. Based on my seven years of experience in the crypto space, I will recommend a few altcoins with doubling potential that are worth considering now!
No.1 ETH
Some people will definitely say, how can ETH be an altcoin? In a sense, apart from Bitcoin, everything else is an altcoin.
ETH is the second in the cryptocurrency world and the leader among altcoins. Its current price is around 3380. Many people say Ethereum is underperforming, as Bitcoin has broken new highs multiple times while Ethereum is still hovering around two to three thousand. This is actually related to its mechanism, as it is subject to unlimited issuance, making price increases more challenging.
However, according to the trends of digital currencies and Ethereum, it is time for an explosion. First, the favorable news:
1. During the recent decline, Ethereum whales accumulated 4000 ETH.
2. Ethereum will hold its annual developer conference on November 12.
3. Trump is in office, and as we know, he supports the development of digital currencies. However, his wife and son are both invested in Ethereum projects. So, do you think the next wave will boost Ethereum's price and market cap?
Secondly, based on historical bull market patterns, Bitcoin rises first, then altcoins, and finally meme coins. Looking at the recent trends, Ethereum has been rising continuously for seven days since November 5, directly climbing from 2300 to 3300. This is a substantial 1000-point surge. Currently, I believe Ethereum still has entry opportunities at reasonable pullback levels, with the next target looking towards 4000, and the next breakthrough aiming for Ethereum's historical high of 4868.
No.2 Doge
I believe recommending DOGE is relatively less controversial. Dogecoin reached a historical high of $0.3668 this morning, the highest in the past three years. The controversial part is whether it's still a good time to buy at such a high level. Think about it: weren't you hesitating around $0.1, and when it reached $0.15 you thought it was too high to buy, and then it jumped to $0.36? You might regret it. If I tell you now that you can still buy, you might hesitate again. Congratulations, you've missed another low point.
Dogecoin is like the Bitcoin of the MEME world, and I feel its fame is now second only to Bitcoin. Many newcomers ask how to buy Dogecoin, indicating its high popularity in the market, along with its low price and potential. It has a myth and a story, which attracts many to buy, driving its price up.
Secondly, we can't ignore that Dogecoin has a great supporter, Elon Musk, who continuously promotes Dogecoin, driving up DOGE's price. Otherwise, how could his wealth increase by $20 billion in a day?
DOGE may become a new stablecoin in the future, potentially supporting the purchase of Tesla cars, Tesla robots, and paying for RoboTaxi rides. Will its value and popularity be even higher then?
Elon Musk is a strong supporter of Trump. Before Trump took office, he mentioned that the name of the new department being set up by Musk would also be D.O.G.E. There are even rumors suggesting that the next president could be Musk. Given these factors, can we say that Dogecoin is a good buy? Is there still upward potential? Can it rise to $1?
No.3 BCH
BCH is the prince of Bitcoin, often referred to as the prince coin. Bitcoin Cash emerged to solve some congestion issues caused by Bitcoin and is a fork of Bitcoin launched in 2017. Like the original Bitcoin, Bitcoin Cash's advantage lies in its decentralized network, eliminating the influence of central third parties and addressing the problem of centralized minting rights. Bitcoin Cash can resist regulation, which is a significant driving force for BCH investors, as its nodes are spread across the globe.
Many people are optimistic about BCH, and Roger Ver, known as the Bitcoin Jesus, is promoting BCH globally. Ver aims to prove to the world that Bitcoin Cash is the real Bitcoin, especially if BTC fails to change the status quo and loses its dominance in the future.
BCH's peak was $1650 in June 2021. It's currently hovering around $450, and with the recent rise of Bitcoin, it has increased by 49% in the last seven days. Historically, after Bitcoin and Ethereum rise, altcoins start to rally. When that happens, BCH will reach new heights. Now is a good time to enter the market, with short-term potential for a double!
Investing always comes with risks. If you want to reduce risks and pinpoint precise buy and sell points, feel free to follow me for discussion and exchange! I'm Brother Lei, code name Stable! I've been focusing on the crypto space for seven years, deeply researching primary projects and secondary markets. Learn more about quality primary project information and recommendations for secondary trading points. I'm here to safeguard your investments in the crypto space!
