Steemit Crypto Academy Contest / S14W6 - Future of cryptocurrencies

There is this noise around the world concerning cryptocurrency. It Seems like everyone knows about this product and it's potential in the world we live in.

Many know the potential in investing in cryptocurrency. It has the ability to change a person's financial status with a blink of an eye. But the problem is knowing what to invest in and why the investment should be made.

Having this knowledge will ensure safety of our investments as these are also volatile products which can lead to unimaginable losses too.

This and some other sub topics will be handled in this weeks steemit crypto academy. The topic is Future of cryptocurrencies.

Which cryptocurrencies under $1 can have the best performance in 2024? Choose a cryptocurrency by its fundamental analysis. Would you recommend buying this cryptocurrency?

There are more than ten thousand crypto currencies. Picking some that will do better than others is not an easy thing to do.

Choosing these crypto currencies will be based on the chain they are resident, their utilities and other fundamentals relating to them.

I will list out some of these coins below $1 that I expect to be among the top performers this 2024. This listing is based on the coin's utility.

In terms of Privacy;

$0x0 : $0.12
$ROSE : $0.07

For Defi, we have

$RVF : $0.66

$CHNG : $0.11

$VETME : $0.002

Under Artificial intelligence (AI)

$FET : 0.53

$PAAL : $0.14

$CGPT : $0.14

$VRA : $0.007

$XNA : $0.004

Layer-1 chain tokens

$DIONE : $0.003
$RXD : $0.002
$NEXA : $0.000017

In the area of object or property tokenization

$LEOX : $0.64

$RIO : $0.74

$NXRA : $0.13

$UBXS : $0.07

For Gaming

$PZP : 0.44

$GFAL : $0.04

$GALA : $0.02

$EPIK : $0.02

These coin can do 50x to 100x. However, this is not a financial Advice. DYOR.

Choose a cryptocurrency by its fundamental analysis. Would you recommend buying this cryptocurrency?

Among the crypto currencies that I mentioned is $FET. This is the native token of fetch.ai decentralized learning machine platform used for asset pair trading, energy grid optimization . It's Decentralized finance app aids users of Uniswap to set and automate their trading using a predefined condition. The token is an Ethereum token and used for opening up the door of opportunities in the Fetch ecosystem.

This token is very important for the deployment of smart contracts, oracles and other transactions needed to operate in a digital economy.

We know that the entire world ecosystem is centered around the use of AI in performing almost all task carried out by humans, thus replacing humans with machines.

AI is gradually taking over the world and soonest machines will be the order of the day. So this coin have a huge potential in it that is not yet known by so many investors.

So I believe that with the future of AI, this coin is going to be sought after once people sees its great potential.

Reaching the $1 mark is as easy as anything you can imagine.

So I would personally recommend this coin for people to buy. NFA.

Provide the step-by-step to buy the selected cryptocurrency. Show screenshots.

There are two ways you can buy the selected crypto currency on Binance Exchange.

I am going to show only one way of doing so. It is by using the convert feature of the binance app.
To do that;-

° Click on home

° Then click on the binance Logo at the top left hand corner.

° it then opens the icon page, click on more services.

Then scroll up to see the part for trade, then select convert.

It then brings you to the convert page.

Select the crypto currency you want to convert to FET, in this case USDT on top. Then below select FET.

Then click on preview conversion.

It will bring out a dialogue box, just to preview to confirm accuracy, then click on convert within the allotted seconds to process the transaction.

You can see the FET I bought in the screenshot below as part of my spot holdings.

This is one of the ways to buy my chosen crypto currency.

N/B: all the screenshots on this section were taken from my Binance app

What is the future of STEEM in 2024? Give your own opinion, you can project the price of STEEM, making your own analysis.

Steem token price have been a kind of stable operating within a price range for most of the past 2 months.

The year 2024 will be great for STEEM because of an event that will take place this year. Historically speaking, whenever there is Bitcoin halving, it leads to a tremendous increase in prices of crypto currencies and STEEM token is not left out.

Let us now check what happened during the last Btc halving in relation to the STEEM token.

The last BTC halving took place on May 11, 2020. As at the time halving took place, STEEM price was $0.167, immediately after the halving, the price rose to $0.32. this was a 91% increase in price.

source

The price later came down and then about 11 months later, we had an all time high of $1.43. This was about 756% increase in price.

Last bull run ATH

So going by this historical analysis, I expect the STEEM price to be at #0.4 before the halving time, then due to the halving, the price will rise to $1.43, which was the former ATH, then it will retrace to around $0.7 to $0.8 before starting the next upward movement phase.

However, by the time the upward phase is complete, I expect steem to have an ATH OF $2.5 as my diagram shows.

source

This is my expectation about STEEM, this incoming bull run.

Is the future of cryptocurrencies promising? Explain. Show data on the adoption of cryptocurrencies in the world. Give your own opinion.

The future of crypto currency is indeed promising. Despite early efforts to label it as scam and dissuade people from investing in it, it's adoption have been growing in leaps and bounds.

Several countries in many regions all over the world have adopted crypto currency as a means of payment.

Some merchants, shop owners and businesses also accept payment of crypto currencies for their goods and products. Even in my country Nigeria, payments are made using crypto currencies like Usdt. In fact it is regarded as dollar.

The data below in the form of a screenshots, show the rate of adoption.

source

So it is obvious that the adoption of crypto in all spheres of life is a reality.

Conclusion

Crypto currency have come to stay. The rate of adoption will continue to increase day by day. So there is need to move along with the current trend and learn about crypto to benefit more from its global adoption. I don't want to be left out. I am in for it. I don't know about you?

I therefore invite @patjewell @event-horizon @sahmie @yancar and @steemdoctor1 to take part. Here is the contest post link.