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I've always been bullish on crypto, going back to the days I started mining it on a massive computer rig in my spare room.
I've consistently been right there up front with the most bullish predictions. Most recently, I was talking about what it would take to get Bitcoin up to $100,000 in 2021, and the time it's spending consolidating here above $55,000 is only going to make the trip to $75,000 and $100,000 easier.
Still, crypto has blown away some of my wildest expectations. I've had to "revise" a few of those upwards. I mean, March was just huge – and not just because we saw Bitcoin break above $60,000 for the first time.
We saw Bitcoin outgrow gold for the first time… We've seen just four companies scoop up around 40% of the annual Bitcoin supply.
Out in the wider crypto world, we've even seen record-breaking prices realized for non-fungible tokens (NFTs). They've even shown up on "Saturday Night Live." I have to admit I didn't see that one coming.
But some of the most exciting things have been happening "under the radar" in less well-known corners of the market where microcurrencies live…
This Is a Whole Crypto "Ecosystem"
Bitcoin gets a lot of attention, for great reasons, but it's only one of a huge variety of profitable, useful cryptocurrencies out there.
EOS has caught my attention a lot recently. It's a lot more than "just" a crypto; in its own words, it's an "infrastructure" with two different components. There's EOSIO, which is a blockchain platform for applications, kind of like the operating system on an Android phone, Windows computer, or Apple. And there's the cryptocurrency itself, EOS. I recommended EOS to my Microcurrency Trader subscribers last year, and the folks following along have had the chance to take a couple of "servings" of profits.
EOS is one of a couple of different blockchain-based networks – Ethereum is a big one that should jump right to mind. I'm oversimplifying here, but EOS is trying to solve the problems users can run into when it comes to the flexibility of those kinds of systems, which can run into all kinds of bottlenecks and slowdowns in reality.
In fact, EOS is trying to build a network capable of processing millions of transactions per second, though there's still a good way to go to reach that goal. It's also working on being able to execute those smart contracts I told you about last month – contracts that can execute automatically once certain agreed-upon conditions get met.
Now, like I always say, some microcurrencies won't last; they're just a flash in the pan. But EOS fits my two biggest criteria for the microcurrencies that "make it," because it offers people something with real value and something that's useful. I'd say a fast, free blockchain with the ability to eventually process millions of transactions every second of every day qualifies as valuable and useful.
EOS has been trading in the $2 to $7.13 range over the past 52 weeks, and I'm going to continue to keep my eye on it – I wouldn't be surprised if big things happen.
Now, I've got to save my best microcurrency research and recommendations for my Microcurrency Trader subscribers. They've had the chance to take a lot of profitable altcoin and microcurrency moves off the table this past month. You can learn all about how to get that research service right here, but I suggest you move fast; my publisher is hiking the price shortly and I don't think it'll be this low again.
About the Author
Tom Gentile, options trading specialist for Money Map Press, is widely known as America's No. 1 Pattern Trader thanks to his nearly 30 years of experience spotting lucrative patterns in options trading. Tom has taught over 300,000 traders his option trading secrets in a variety of settings, including seminars and workshops. He's also a bestselling author of eight books and training courses.