Here at Wealth Daily, we aim to provide our readers with up-to-date financial information dealing with a variety of subject areas. We’re constantly researching market trends and keeping any eye out on what to expect for the future.
We spend most of our days discussing with our colleagues various topics that we believe will be huge investment opportunities for our readers. It’s just what we do, and it’s what we’re passionate about.
Over the past few months, the whole world has seen a huge investing opportunity, and believe me, it’s been on our radar for a while now. While the rest of the world might not have been giving it the attention it needed, we were doing our usual due diligence — researching and tracking this opportunity as it grew bigger and bigger each day.
By now, you’re probably familiar with what I’m referring to. Maybe you’re not entirely well versed in the subject area, but I guarantee you’ve heard it mentioned once or twice on the news or from a coworker or friend.
The opportunity I’m talking about is digital currency.
Take a look at what happened to Bitcoin last week. On October 13th, Bitcoin achieved a new all-time high, surging to $5,920.
There is a plethora of cryptocurrencies out there, so I can understand if you might feel a little overwhelmed when researching the digital currency market. Luckily, we’ve put together an investor’s guide to cryptocurrencies so you can educate yourself and ease any uncertain feelings towards the topic.
We were on top of this subject and its investing potential for our readers back in 2014, when we discussed Bitcoin and how it would become an explosive investment in the coming years.
And here we are still covering the topic as Bitcoin continues to soar.
To put it in perspective, if you bought $100 worth of Bitcoin in 2010, it would be worth more than $75 million in 2017.
Many Bitcoin bulls who are watching this digital currency uptrend are predicting it will hit $6,000 in near-term trading. Aayush Jindal wrote about Bitcoin’s ability to hit $6,000 on a Finance Minutes blog, saying:
Should there be a break above $5,855, the price would easily climb towards $6,000. The hourly RSI is at 62 and is showing positive signs, which means [bitcoin per U.S. dollar] remains in the bullish zone above $5,400.
According to CoinDesk, the market cap is about $93.55 billion. The cryptocurrency has been forecast to reach at least $1 trillion in the next eight years.
Digital currency analysts and advocates aren’t the only ones seeing the potential within this market…
It’s Just Getting Started…
The International Monetary Fund (IMF) has declared that it’s time for the world’s central banks and regulators get serious about digital currencies.
Christine Lagarde, IMF managing director, said global financial institutions are taking a risk by not watching and staying informed on emerging financial tech products that are already starting to shake up the financial services and global payments systems.
Digital currencies like Bitcoin have started to disrupt the financial market. Of course, we’re still unraveling the type of effect they’ll have, but we do know it’s going to be a serious effect.
Lagarde also mentioned:
What we will be looking into is how this currency, the special drawing right, can actually use the technology to be more efficient and less costly.
The IMF isn’t denying the influence digital currency will have on the world. However, there are digital currency skeptics with concerns over its security and whether it’ll even be around in a few years.
As we see central bank officials, bank management teams, and governments exploring and considering digital currency opportunities, I think it’s a telling fact that this form of payment will be around for some years to come and even has the possibility of reshaping everything we’ve known about the way we pay and share information.
Established agencies and organizations wouldn’t be exploring opportunities if they didn’t see a future in the market.
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What’s the Next Digital Currency Opportunity?
While the discussion is only beginning for this fairly new market, it is beginning, which means it’s time for our readers to consider the possibilities.
In the past few months, we’ve been sharing the most up-to-date news and the many changes that are affecting the market to better understand cryptocurrencies and the future of digital currencies.
We’re seeing a massive opportunity for investors that everyone at Wealth Daily has dubbed the “digital gold rush.”
We knew we had to brainstorm ways to provide you with the information you need, and we came up with the great idea of starting a free educational service that is solely dedicated to the “digital gold rush.”
So while you might feel you missed out on Bitcoin, you no longer have to have live with that fear of missing out. The service will be launching later this week, and it will help you navigate and better understand existing digital currencies while also helping you discover new cryptocurrencies.
In the meantime, while you’re waiting for the launch, we have a great podcast up that discusses how Bitcoin is being adopted as a traditional investment.
Keep an eye out later this week for the launch of our free educational service on digital currencies!
Until next time,
Monica Savaglia
Wealth Daily
