Algorand (Algo) - Gearing Up for Something Big.
Hi everyone,
Algorand is a promising project with a great team. The chart also looks fantastic, being in a very pronounced uptrend since around April 2020. This uptrend has involved previous resistance being turned into support, something which I believe is happening now. Due to the promising nature of the project and it's having a very modest market cap of $8 billion (lol), I believe that Algorand will go much higher. How much higher is difficult to say, but assuming a total crypto market cap of between 6-12 trillion $ by the end of this bull market, and assuming that Algorand continues to gain market share relative to its peers in the top 20 (from projects like litecoin, cro, and xrp for example), a market cap above 40 billion seems exceedingly likely, and thus an Algo above $5. Watch this space.
Take care everyone and happy holidays!
Jason
Algorand is a promising project with a great team. The chart also looks fantastic, being in a very pronounced uptrend since around April 2020. This uptrend has involved previous resistance being turned into support, something which I believe is happening now. Due to the promising nature of the project and it's having a very modest market cap of $8 billion (lol), I believe that Algorand will go much higher. How much higher is difficult to say, but assuming a total crypto market cap of between 6-12 trillion $ by the end of this bull market, and assuming that Algorand continues to gain market share relative to its peers in the top 20 (from projects like litecoin, cro, and xrp for example), a market cap above 40 billion seems exceedingly likely, and thus an Algo above $5. Watch this space.
Take care everyone and happy holidays!
Jason
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