Veteran investor Jim Rogers, who co-founded the Quantum Fund with billionaire investor George Soros, expects all cryptocurrencies, including bitcoin, to disappear someday. Anticipating bitcoin going to “zero,” he stressed: “I’m very skeptical of crypto. I don’t expect it to last … I do not see any long-term value in cryptocurrency.” Jim Rogers Remains Skeptical of […]
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A prominent crypto analyst and Bitcoin enthusiast, Michael Van de Poppe, has shared insights on the future trajectory of several altcoins in the space. The crypto analyst’s predictions highlight crucial moments for investors as they watch out for opportune times to buy and sell cryptocurrencies in this dynamic market.
Following the approval of Spot Bitcoin ETFs, Bitcoin experienced a substantial surge, rallying to overcome the $45,000 price mark. During this bullish momentum, the prices of several altcoins, including Ethereum (ETH) and Solana (SOL), also witnessed significant increases.
In a recent X (formerly Twitter) post, Poppe revealed major altcoins to buy or sell in 2024. The crypto analyst shared a chart illustrating the historical price movements and corrections of Solana, Polygon (MATIC) and Chainlink (LINK).
Poppe revealed that Solana’s consolidation phase appears to have ended after it experienced a major decline from its 2023 peak of over $123 to $95.81 at the time of writing. His analysis suggests that Solana is poised for a higher time frame support test at $80 and is anticipated to surge to new highs, potentially reaching $140.
Subsequently, the crypto analyst presented a historical performance chart of MATIC, the native token of Polygon. Noting that the cryptocurrency has maintained higher time frame support levels with established liquidity, Poppe predicts an upcoming upward movement despite MATIC’s recent underperformance.
He forecasts that MATIC’s next rally could propel its price to a range between $1.25 and $1.50. As of now, the price of MATIC is trading at $0.789, reflecting a 2.39% decline in the past 24 hours, according to CoinMarketCap.
The Bitcoin enthusiast also anticipates a substantial price increase for Chainlink’s native token, LINK. The crypto analyst revealed that the cryptocurrency has consistently held crucial price levels and is positioned for an upward momentum towards $25. At the time of writing, the price of LINK stands at $14.65, representing a 0.12% increase in the last 24 hours.
In his X post, Poppe unveiled a roster of altcoins that has been struggling to surge and maintain crucial resistance levels. The crypto analyst pointed out that Ethereum’s recent slow growth has adversely impacted many altcoins, causing them to experience further declines.
He mentioned Synthetix (SNX), which is currently depreciating primarily due to Ethereum’s lagging performance. Additionally, there is Arbitrum (ARB) and Polkadot (DOT), which Poppe predicts would have a significant price increase in the future.
The Bitcoin enthusiast stated that if ARB can return to a price level of around $1.40 and $1.60, it could open up new entries into a more sustainable position. Subsequently, Poppe predicts a rise in the price of Polkadot to $15 despite its current price trading at $6.80.
The crypto analyst revealed that DOT is currently showcasing a “great weekly candle”, and its previous price corrections present a great opportunity for investors in the ongoing bull market.
Total market cap at $1.57 trillion | Source: Crypto Total Market Cap on Tradingview.com
Featured image from Busha, chart from Tradingview.com
Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
Millennial and Gen Z workers could make an “astronomical” amount of money if they take advantage of the one obvious factor that’s working in their favor: time.
By making good use of the years ahead of them and saving early, the renowned financial expert Suze Orman believes that Gen Z workers have the potential to retire as millionaires.
“You start right now in making your money grow and you’ll have more money than you ever dreamt possible,” she told Moneywise while adding that delaying your investment journey by a mere 10 years could “cost you $700,000.”
Investing in your future self can be a hard notion to grasp when you’re in your early twenties and simply enjoying life.
But it’s a mentality that will cost you—literally thousands, according to Orman.
“You want to play and have fun, that’s on you later on in life when you can’t pay your bills,” Orman told Moneywise.
“Their priority is their youth, their priority is time,” she said. “If there’s anything the younger generation needs to understand, it’s that the key ingredient to any financial freedom recipe is compounding.”
She used just $100 to highlight how powerful compound growth is.
By investing $100 every month from the ages of 25 to 65 into the likes of a Roth individual retirement account (IRA), Gen Z could retire as millionaires.
“With a 12% annual average rate of return—the markets can do that for you—you’d have a million dollars,” she explains.
Depositing a monthly investment of $100 into an account with a 12% yield would net someone approximately $1,188,342 in 40 years’ time.
But here’s the catch: The longer you delay your investment journey, the lower the accumulated amount of money will be.
A millennial who is just five years older when they start their investment journey at 30 would accumulate around $649,626 by age 65. Shockingly, a mere five years is enough to slash the return by almost half.
Meanwhile, waiting 10 years to start your investment journey would could you $700,000, as Orman points out.
Of course, this is a simplified calculation that doesn’t take into account taxes or account limitations—for instance, if your income is over $153,000 you cannot contribute at all—but it highlights why time really is young people’s greatest asset when it comes to building wealth.
The 12% annual average rate of return, which would make a Gen Z worker a millionaire before the age of retirement, is a conservative percentage, according to Orman, who estimates you can expect up to a 25% rate of return on your money.
It’s why the financial guru insists Gen Z take advantage of employer-sponsored savings vehicles like 401(k)s and IRAs, which offer tax benefits and potential employer matches, as well as exploring investing apps that require minimal initial investment.
“If you commit to this process month in and month out—and you do it for a long period of time—“the amount of money [you] could have would be astronomical.”
This story was originally featured on Fortune.com
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