We messed up pretty bad. All of the core staff in Dacxi lost the bet we made in January 2020 on what the price of Bitcoin would be in USD by the end of 2020. Most people guessed between $10 and14k. And if it was above 14k we would grow beards, so no one was surprised when they had to start growing facial hair at the beginning of this week!
Being the eternal optimist that I am, my guess was 20k. As of today, Bitcoin is $23,400 up 22% on the week, and still 10 days to go till the end of the year. Will it breach $25k or correct down to $20k? Who knows?
And frankly who cares! The buzz behind crypto grows every week, helping all of us to establish crypto as a new asset class and paving the way for more and more people to have access to something they have never had before.
Nigeria is the perfect example of why BTC will succeed. The central bank has blocked access to international bank remittances in local currency (Naira). Many Nigerians sending money through these international remittances are effectively cut off from their most reliable channel of support. The Bitcoin story in Nigeria is emblematic of the march toward global digital economic freedom.
Also the involvement of institutional investors and major key companies to the cryptocurrency market is fast accelerating and we are witnessing the second institutional wave. This will make it easier for mass adoption of crypto. The future looks very promising!
The Blue-Chip Bundle is right on the money
When I designed the Blue-Chip Bundle in September 2017, many people smiled at the simplicity of its premise and how I selected the coins. In a market of filled with thousands of coins, I chose three coins for this portfolio based on what was offered by the few financial organisations in this space at that time to their own institutional clients; companies like Fidelity.
I didn’t pick them based on their product or technology, or even their fundamentals. I picked these coins because they were already in the hands of the big players and it would be these guys who would drive the next stage of growth. They picked Bitcoin, Ethereum, and Litecoin. We would therefore offer the same.
Two years later and the astonishing performance of this trio has proven us right. In today’s market, the Blue-Chip coins perform better consistently better than any other combination of coins. From day one we stuck to our Blue-Chip guns and even Litecoin, which started to lag, has rocketed up 100% recently to reclaim its 4th most valuable tradeable crypto ranking.
The crypto market is still new and the major new investors want simplicity, and as such, the focus will probably remain on these top coins for a while. This means that the support for all other coins is unstable. In the last week, the Blue Chips grew by 24% on average and the total market increased by 17%, yet, 55% of the top 100 coins grew by less than 5%, stayed flat or declined.
The future
With so many major companies launching into crypto with the firm belief there will be rapid and long-term growth in the market, the future for Blue-Chip coin prices is looking fantastic. They will of course fluctuate yet the trend is only up. It’s a case of the strong getting stronger and this is what you need to know today.
Dacxi Coin listing news coming soon
We are in the process of just finishing exchange listing negotiations. These organisations don’t move as fast as we would like because the workload is pretty crazy in all crypto companies today, rest assured, we’re working night and day to get this organised. We hope to make announcements around the listing very soon. Exciting times ahead!
The last word
Take time to enjoy a glass of wine this Christmas and reflect on your friends, family, and the year that was…2020. In what has been a chaotic and surreal 12 months Dacxi has grown considerably in solid partnership with our fantastic community and big things are starting to happen. Let us all bask in the success of what we have built together and be grateful for all that we have achieved, while not forgetting the incredible hardships others have suffered.
I hope you have a great Christmas and New Year and share the word that Crypto is the market to be in. Help people around you understand what cryptocurrency is, how it works how they can build prosperity from it.
Merry Christmas everyone and rock on 2021!
Ed
Dacxi is proud to support people on a path to prosperity with crypto. If you would like to find out more then please join us at dacxi.com. We’re here to help.