Motley Fool, a US-based private finance and investment consultancy company, recently stated that these 2 cryptocurrencies may exhibit a ‘bullish’ movement! Here are the details…
The Consulting Giant company announced: “This cryptocurrency is the best long-term investment!”
Consulting giant company Motley Fool puts the leading cryptocurrency Bitcoin at the top of the list. Bitcoin’s halving, which happens roughly every four years, is among the most anticipated milestones in the cryptocurrency industry. Due to the dynamics revolving around supply and demand, Bitcoin historically seems to have entered impressive runs with the next halving nearly a year away. The consulting giant company points out that BTC could be an excellent investment due to the halving event that will take place in April or May 2024.
Looking at past halving cycles, it’s clear that halving plays an important role in the dynamics around Bitcoin’s price, according to the consulting giant company. The data shows that the maximum value is reached when Bitcoin is held for at least a year after the halving. To begin with, if we go back to Bitcoin’s first halving in November 2012, when the mining reward dropped from 50 BTC to 25, a year before this halving, one Bitcoin was worth about $2.50. But two years later (one year after the halving), Bitcoin’s price rose by nearly 40,000 percent to over $1,000.
cryptocoin.com As we mentioned, although the first half was the hardest in terms of price increase, the second half was still profitable for investors. Those who invested at $285 a year before the halving in July 2016 and continued their investments until they reached a cyclical peak of over $2,800 a year later would have made a profit of over 600 percent. Similar to 2016, the most recent halving in May 2020 would have yielded roughly equivalent returns. This would represent a return of more than 600 percent when investors who bought Bitcoin when it was worth around $7,100 saw the price of Bitcoin rise above $60,000 in May 2021.
However, according to the Motley Fool, trends seen in recent halving cycles, and most importantly, demand-related trends seem to be reemerging. According to blockchain data firm Glassnode, the number of active Bitcoin addresses is increasing at a steady rate and has surpassed the levels during the last halving. Moreover, the number of addresses with a positive balance currently exceeds 45.7 million, hitting an all-time high. This growth in active and positive addresses is generally considered to be indicative of increased demand, which could be a positive sign for Bitcoin’s price in the future. That’s why the consulting giant company puts Bitcoin at the top of the list.
The consulting giant company turned to the popular cryptocurrency Polygon (MATIC)!
The consulting giant company pointed to Polygon (MATIC) for the second cryptocurrency. Polygon’s latest initiative, its collaboration with Sports Illustrated on the launch of an NFT ticketing platform called Box Office, has caught the attention of many investors. If successful, this project could change the minds of many investors about Polygon’s future growth prospects. The move of the ticketing platform to the blockchain means Polygon has the opportunity to turn a regular ticket into a “super ticket,” according to the consulting giant. This super ticket includes extras like exclusive video summaries, one-of-a-kind images, or other premium content formats that will make it an instant collection. In theory, however, you could resell the NFT.
While pointing to the consulting giant company Polygon (MATIC), it also highlights whether investors are interested in NFT projects. According to experts, if you’re a Bored Apes-loving investor, Polygon can be quite a fit for your portfolios. However, according to experts, a long-term investment in Polygon can bring big profits to investors. One of the reasons for this is explained as the partnership established with Disney in the past months.
