A trader with 20 years of experience is bullish on 5 tokens and thinks BTC is a better investment than ETH.
Nick Cawley, a DailyFX.com expert with 20 years of experience in the securities industry, predicted a few months ago that Bitcoin and Ethereum would hit record highs.
Currently, he believes that the two largest cryptocurrencies will experience slow but steady growth after significant reforms.
In a recent interview, Cawley said there were three reasons for this. Sentiment in the crypto market is still strong, adoption by large investors has increased and the process of setting up the token chart shows that the rise has been sustained.
Cawley said the classic example is lower for the 20-30 largest cryptocurrencies.
“With sales, daily sales will come back soon,” Cawley said. "Either way, the market seems to be looking for sales. Some people are looking for sales and buying time. Make your time long."
However, Bitcoin's inflation hedge potential makes it more profitable than competing coins.
Cawley said US inflation hit its highest level in 30 years in October and "now plays a major role in the economy." Many traders were reluctant to give up their capital by purchasing gold and some commodities. Others wanted to buy Bitcoin, which has risen more than 46% since October 1.
Historically, cryptocurrencies have been touted as hedges against inflation due to limited resources. Cawley called this Bitcoin “the special eye”. If inflation accelerates and lasts longer than government employees want, Bitcoin could outperform other commodities.
“Forget the Americans who say inflation is 'temporary',” Cawley said. “Times have been around the last six months, but US inflation is the highest in 30 years. So, as you know, inflation has risen sharply today and is not visible. a downside for the future. Bitcoin is a great way to hedge. Prove it. "
Some bulls believe that the base Ethereum blockchain token could also be used as a financial asset, as the deal was reached in August to ban token tokens. Cawley said he didn't believe this claim, even though he was an Ethereum fan.
He said investors worried about inflation should call for the use of Bitcoin to counter rising prices, especially since Bitcoin's structure is more profitable than Ethereum's. He says the ether is "lower". An expert from DailyFX.com wrote in a November 8 report that Ether will make even more changes when it enters "uncharted waters."
There are also 5 other significant advantages despite the presence of bubble marks
Bitcoin and Ethereum have become entry-level digital assets. In an interview with Barron's, Liz Young, chief investment officer at SoFi Technologies, told Barron's that Bitcoin was once considered desirable, but is now seen as "the result of the baby boomers." me me.
The success of Ethereum inspired the idea of becoming "Ethereum Killer" and the fame of Dogecoin led to the birth of Shiba Inucoin. Many so-called “hype” pieces can be taken down, sold and eventually forgotten.
“There are chips that have a 'star shot' and then they'll go away and you'll never see them again,” Cawley said.
Some people see the cryptocurrency craze as a fun game that can get you a lot of money with luck. Others warned that the gap was indicative of growing demand and was part of the Fed's decision to cut interest rates to zero and invest more in the economy.
Broadhaven Ventures co-founder and partner Michael Sidgmore said in an interview that “[investors] are more willing to take risks, especially in a lower-cost environment, because young women need investments.
Sidgmore acknowledges that there is some "hysteria" in the crypto industry today, but adds that there are still plenty of new ones. Cawley agrees with this point of view. Experts at DailyFX.com claim that compared to a few years ago, investors are increasingly aware of what cryptocurrencies can do.
Cawley listed five other perks he has followed closely.
Solana(Sol) etcardan(ADA) is a competitor to Ethereum, and Cawley said these two companies are at least a plus for Ethereum because they offer lower costs and faster exchanges. Another Ethereum competitoravalanche(AVAX), networks can outperform large networks in terms of market share per second.
Cawley owns two smaller, lesser-known cryptocurrencies.Hedera( HBAR ) 和Algorand(to know). Both strive to be the decentralized application hosting platform.
Those five tokens have performed well this year, and Cawley said it shows their potential, not the cryptocurrency bubble of the future. At least he didn't think so.
“However, there is no cause for concern at this time,” Cawley said.
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