The first cryptocurrency Bitcoin and Etherium added more than 5% in price by 12:30 EST Dogecoin showed growth, which, of course, was less than its big brothers but still 3% is considered quite good. The growth was triggered by the statement of Cathy Wood, who was very flattering about the two major cryptocurrencies of the world.
As for the digital currency Polkadot, it showed a rise to 38.51 dollars per coin by Tuesday. In practically 24 hours, the value added 12.8 percent. Now a blockchain is being developed that will connect various other blockchains and form the basis for various information developments, applications. There will be more information on this in late 2021 and investors are waiting for this big event.
As for the blockchain on which Polkadot operates, many investors believe that it is a test version, which is designed only to identify vulnerabilities of problems of this cryptocurrency before the launch of the update. This is scheduled for the end of 2021, and the first units of Polkadot chains will be released.
At the Salt conference, a regular event involving technology development, the financial sector and geopolitics, the CEO of ARK Invest, Kathy Wood, suggested that Bitcoin will reach half a million dollars in the next five years. She also shared her position that Etherium is an undervalued coin and confidence in the future of this token is only growing.
The whole financial world was stirred by the news that El Salvador became the first state that legalized Bitcoin, now this cryptocurrency can be paid almost everywhere. Leading investors speculated that El Salvador’s Bitcoin recognition would be followed by other countries.
The statement from the head of Ark Invest led to some movement in the cryptocurrency market. However, she said that the forecast is based on the fact that corporations will diversify their portfolios by buying cryptocurrency, as well as corporate investors will transfer at least 5% of their assets to cryptocurrency.
It is known that now almost all major companies are connected in one way or another with either trading or producing bitcoin, and most of this cryptocurrency is just owned by a few corporations, which are run by very successful billionaires. Research by BlackRock revealed that 82% of those surveyed expect the cryptocurrency to grow.
What will happen to Polkadot?
The growth process of this cryptocurrency has been going on for a year and investors are already seeing the results. Already at 12:00 on Tuesday, this cryptocurrency has added a third of its value over the last 7 days and 2/3 of mid-August. If we take a longer period at the beginning of the year, this cryptocurrency has quadrupled.
Now it is assumed that the Polkadot project in the future will be more significant, there are plans to develop a new platform for smart contracts, thus this token can in some way compete with the leader Etherium. However, Polkadot has not yet fully developed its blockchain and is already competing with a huge number of alternative systems. Undoubtedly, this project is promising and interesting, but at the same time it is associated with risks and some manipulation.