Two days ago, the IMF sent out a very interesting video tweet, explaining how cryptocurrencies could help solve some of the problems the world experiences too, especially in finance. While the video did not mention any crypto by name, BTC, XRP & ETH were tagged in the tweet, as below.
This is the kind of thing that should get an investor in any of these three cryptos excited and for good reason. That’s because of all the cryptos in the market today, the IMF believes these three are the ones that have the capacity to change the world. Remember these are also part of the 20 cryptos that NASDAQ singled out as having the potential to explode in value in the future. That’s an indicator that institutional players are seriously looking into these cryptos, as part of a crypto clique that will take center stage in the new decentralized world.
As a matter of fact, this is already happening. Take Ripple (XRP) for example. In the last few months, this crypto has been adopted by more than 100 banks all across the world, and the list is growing. Just recently, ripple partnered with one of the largest banks in Kuwait, signaling to the entry of Ripple (XRP) in the Middle East. Ripple has grown so fast in the finance sector that the IMF recently quoted it in a publication, as one of the solutions that could enhance efficiency in finance. That’s a positive indicator to its future growth in the finance industry, and good for the long-term value of Ripple (XRP).
Ethereum (ETH) too has been growing significantly since its inception. Despite many challenges especially in speeds and scalability, the Ethereum user-base is growing by over 30,000 people a month. This gives the Ethereum blockchain a leg-up in the platform blockchains space. For other platforms to by-pass Ethereum, they would have to grow at a faster magnitude, and that’s not easy. Besides, Ethereum is way on track to solving most of the issues that its competitor platforms use as a selling point. Vitalik Buterin has already stated that they are in the process of solving the scalability issues facing Ethereum (ETH) using Sharding and Plasma technologies.
On its part, bitcoin is slowly taking shape as digital gold. A few days ago, bitcoin rose in value while other asset classes were dropping, following political uncertainty in Italy. That’s an indicator that it has the potential to become a fallback secure asset in case of a global financial crisis. This in itself is a solid reason for someone to be positive about the future growth of bitcoin.
With all these factors at play, there is every reason to be bullish on these three cryptos that the IMF has mentioned. The chances of Ethereum (ETH) getting to $2000 and Ripple (XRP) hitting over $10 in 2018 are quite high. They have reached a point where global institutional players can no longer ignore them. The future looks bright!
This information should not be interpreted as an endorsement of cryptocurrencies or a recommendation to invest. Historic performance is no guarantee of future returns. As an investment class, cryptocurrencies are speculative investments and investing in cryptocurrencies involves significant risks – they are highly volatile, vulnerable to hacking and capital loss and sensitive to secondary activity. Before investing you should obtain advice and decide whether the potential return outweighs the risks.