Ripple prices today (Sept. 11, 2017) are up 6% as of 9:30 a.m., as cryptocurrency traders shake off China's new cryptocurrency policy. But the gains for cryptocurrencies are only just beginning...
Ripple is now close to recovering its losses since China announced it planned to ban initial coin offerings (ICOs) on Sept. 4.
Because ICOs mainly raise money through Bitcoin or Ethereum, the news out of China sent digital currency prices down across the board. Since China's announcement, Bitcoin prices have dropped 9.75%, Ethereum prices have dropped 16.18%, and Litecoin prices have dropped 15.03%.
Cryptocurrency traders are worried about the long-term regulations China may impose on all cryptocurrencies. But Ripple prices are already rebounding. After dropping 4.54% on Sept. 4, Ripple is now only one cent off from returning to $0.22, its opening price on the day of the Chinese announcement.
That's because Ripple has incredible growth potential and could bring owners nearly 1,000% in returns...
Ripple Prices Climb 6% Today, but 852% Gains Could Be on the Way
In an Aug. 25 report, investment newsletter site Profit Confidential predicted the price of Ripple will climb to $2 by 2018. From today's prices of $0.21, that's a potential profit of 852%.
The reason?
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Ripple works with banks and financial institutions to make international payment transfers easier. And because of this "corporate-friendly" approach, Ripple could have quicker main-stream adoption than other new cryptocurrencies.
"You see, blockchain is a difficult concept to understand. So are the differences between fiat money and blockchain-based currencies," Gaurav Iyer said in the Aug. 25 report. "They are not very easy to explain, making it an uphill battle convincing people that blockchain is the answer to economic crises."
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BBVA, one of the 50 largest banks in the world, is currently using Ripple to enable real-time payments between Europe and Mexico, according to The-Blockchain.com. Currency exchange service Cambridge Global Payments is also working with Ripple to improve its customer experience as well as decrease the cost of real-time global payments.
However, it's not just Ripple that could impact global finance.
In fact, one major event could trigger a 24,000% cryptocurrency profit opportunity by 2030.
And the event will exclusively benefit Bitcoin...
Money Morning Cryptocurrency Expert David Zeiler has all the details about how Bitcoin prices could reach $1 million in the next 13 years...
Why a Bitcoin Price Increase of 24,000% Isn't a Far-Fetched Idea
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If Bitcoin replaces the U.S. dollar as the chief global currency, the price of Bitcoin will skyrocket.
"If Bitcoin replaced the U.S. dollar as the world's reserve currency and became the primary means of settlement in global trade, one bitcoin would need to be worth about $1 million," Zeiler said on June 15.
From today's price of $4,143.86, that's a potential gain of more than 24,000%.
Zeiler believes that has a realistic chance of happening, because the run of each of the last five global reserve currencies has lasted about 100 years. He reasons the U.S. dollar's reign as the world's reserve currency could end soon.
And because China is pushing for a new national reserve currency, Bitcoin could be a logical choice. Whichever country's currency wins out will benefit that country, but Bitcoin is different.
"Unlike the SDR or a national currency, Bitcoin has no central control. It's governed by the software code that runs the network. And it's already being used in countries around the world. That makes Bitcoin the perfect compromise solution," Zeiler said.
Aside from Bitcoin being used as the global reserve currency, it could also have large-scale uses, such as remittances, that help push the price higher. Also, more and more investors could use Bitcoin as a safe-haven investment, like gold and silver, to protect portfolios against economic uncertainty.
"Those multiple uses, combined with Bitcoin emerging as the primary global reserve currency, is what will push it the rest of the way to $1 million," Zeiler added.
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