Crypto phenomenon Ben Armstrong, also known as Bitboy Crypto, recently gave his expert opinion on the future of the cryptocurrency market, including concerns about potential regulation and his predictions for the prices of various digital assets. In this context, the analyst shared a basket of altcoins and an estimated rate of return for long-term investment.
Regulations may affect the use of crypto
Crypto analyst Ben Armstrong, with millions of YouTube subscribers, warns that just like with weeds, the US government may make it harder for people to use Bitcoin (BTC). If the government goes out and declares Bitcoin illegal, this could have a significant impact on its use in the United States. Armstrong also expressed his concerns about the possibility of Gary Gensler winning the position of SEC chairman, saying it would be terrible for the crypto space to have all crypto regulated.
Armstrong also shares his views on Ethereum betting. In this context, he challenges Bitcoin maximalists who think that Ethereum will be considered a security to bet on it. However, he states that the bet is not about Ethereum’s first token sale, as it does not represent Ethereum as it is today.
Altcoin basket and price predictions
cryptocoin.comAs you follow, the leading crypto Bitcoin continues to struggle to protect $ 27 thousand, even though it retreated behind the $ 28 thousand line. Currently, Bitcoin is trading at $27,000. Ben Armstrong says that if Bitcoin reaches $50,000 by the halving event, which is predicted to be in mid-2024, it may be looking at a super cycle. However, he suggests that regulatory measures between now and halving could affect the market. Armstrong also notes that he and his team plan to provide a number of price estimates based on different price points, such as $20,000, $30,000, $40,000, $50,000, and $60,000.
Meanwhile, the popular analyst states that they will be more conservative this time to prevent people from getting their hopes too high. Armstrong from Bitcoin (BTC), Cardano (ADA), Filecoin (FIL), Polygon (MATIC), Stellar (XLM), The Sandbox (SAND), Graph (GRT), Mina Protocol (MINA), and Optimism (OP) creates a basket of cryptocurrencies. He claims that a $2,000 investment in each of them could be worth at least $100,000 by 2025. In this case, an investment of $2,000 each in Bitcoin and 8 altcoin projects amounts to a total of $18,000. Therefore, he claims that an investment of $ 18,000 will reach $ 100,000 in 2 years, offering a return of about 5.5X.
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