One of our cryptocurrency predictions for 2023 is that a few tokens in the the Web3 space will ‘go ballistic’. Arguably, this is one of the most important 2023 prediction that we wrote, along with our booming lithium 2023 forecast. Although we like XRP a lot we believe we have a new darling: Algorand.
As a refresher, we predict that BTC will be bullish in 2023. Our BTC price forecast is +40k.
In our crypto research methodology we consider BTC one of the leading indicators of the crypto market. We cover BTC in each update, not because we are interested in owning Bitcoin.
We are interested in other tokens, the ones that show signs of adoption in the real world.
On Wednesday, October 26th, we wrote a time sensitive alert to members of our crypto investing research service. We featured 14 tokens that are ready to start rising. We offered those top tips in 4 categories:
- DeFi segment (top 3)
- Web3 segment (top 4)
- NFT segment (top 4)
- Bottom fishing (top 3)
In the Web3 segment we picked out Algorand (ALGO) as one of the tokens that is potentially about to start a breakthrough (adoption in the real world). This is what we are talking about FIFA to launch FIFA+ Collect:
FIFA+ Collect is powered by Algorand, the official blockchain platform of FIFA and the technology of choice for over 2,000 global organisations, governments and digital-native decentralised finance applications. It is a low-cost, carbon neutral blockchain accessible via multiple currencies and payment methods.
“FIFA’s platform – via a truly decentralised and scalable public blockchain – is the first tangible representation of the technical partnership recently announced between FIFA and Algorand,” said W. Sean Ford, interim CEO of Algorand. “The commitment FIFA has made to bridge to Web3 enabled by Algorand, is a testament to their innovative spirit and desire to directly and seamlessly engage with football fans around the world.”
The ALGO chart says it all: a sleeping giant.
The green shaded areas on the ALGO chart shown above are pre-momentum signals. We have now 3 of them in a period of 2 months. It is happening as ALGO is clearing 3 falling trendlines.
The point is clear: momentum is underway.
The ALGOBTC chart is confirming this with a successful back-test of its first reversal level.
Our members receive timely insights and top token tips. This week’s Algorand tip is an illustration of this. You might be interested in how well most of the other 13 tips are doing. The 14 top tips are available in the restricted area for members in the alert entitled “Crypto is ready for a rally!”