High inflation and rising interest rates have caused a sharp shift from riskier assets to more cautious investments in the last three months. Most cryptocurrencies were crushed in sales that cast doubt on the widespread belief that such assets could be efficient inflation hedges. However, for investors who can withstand short-term waves, selling can be a terrific buying opportunity. Let’s take a look at 2 altcoin projects that should be considered in February and that can stabilize in these difficult market conditions with the Nasdaq report.
“Bitcoin will grow with institutional interest”
Bitcoin (BTC), the world’s most popular cryptocurrency, is still down more than 35 percent in the last three months and is trading in the $44,000 region, even after a recent price surge. According to the Nasdaq report, Bitcoin has many key supporters, but it also has a lot of regulatory issues to contend with. US President Biden is said to be working on an executive order for cryptocurrencies and other cryptocurrencies that will include new rules, policies and a new system of controls. On the other hand, bull investors like Ark Invest’s Cathie Wood think Bitcoin still has a lot of room to grow. According to Wood’s predictions in the report, the institutional buyout will increase the price of Bitcoin to $560,000 by 2026 and $1 million by 2030.
Presidential Spokesperson İbrahim Kalın touched upon the concept of “metaverse” in the opening conference titled “Our Vision of Knowledge: Yesterday and Today”. Details are on Kriptokoin.com.
2 altcoins to watch from the world giant Nasdaq in February
Forecasting $1 million in Bitcoin, Cathie Wood is also optimistic about Ethereum, a cryptocurrency that requires much less energy to mine than Bitcoin. Ethereum can also host dApps, smart contracts, and NFTs, making it the foundation of the “Web 3.0” world. Additionally, the Ethereum 2.0 transition, which will transform the network’s mining process from an energy-intensive “PoW” approach to a more energy-efficient “PoS” method, is predicted to reduce overall mining energy use by 99%. As for fiat forecasts, Wood predicts Ethereum will be worth between $170,000 and $180,000 by 2030, as DeFi systems consume the share of traditional banking.
Last year, Solana received a lot of attention as a possible Ethereum replacement. Unfortunately, for the past few months Solana has been experiencing major network congestion and security issues. Its network suffered a major vulnerability in Wormhole, one of the largest bridges between Solana and other Blockchain networks, in September, December and January, after which it was revealed that its network was exposed to a major vulnerability in Wormhole. If Solana can quickly overcome network congestion and security concerns, its price may have the potential to rise further, according to the report.
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