Greetings fellow speculators!! My favorite crypto analysist is Benjamin Cowen, and on his channel he likes to dubiously speculate on some of his favorite crypto holdings. The definition of dubious is: not to be relied upon; suspect or, hesitating or doubting. That means that this speculation has a high probability of not coming true, or a pipe dream at best.
With that being said I would like to point out a few things before I begin. I am relatively new to the market around 7 to 8 months old. I have made some respectable gains in that time, mostly for buying the may-July crash. I am no means an expert, or a mathematician. I did all my calculations on the windows calculator, and may be not be completely accurate. My grammar is also not the best. So please be kind to me and your fellow investors out there. As we are all in this together. Now lets jump right in.
Why I'm bullish on Ergo
Ergo is commonly known as the poor mans bitcoin. They pride themselves in decentralization, and only recently, have they allowed mining pools. Before solo mining was only allowed. I firmly believe they have many great projects lined up in the future. I am also incredibly bullish on cardano and its native token ada. Ergo is currently working on a dex to be launched on the cardano network called ergodex. I firmly believe that on the 25th of September, during the cardano summit, a partnership will be announced between cardano and ergo. Charles Hoskinson has also been heard to give great praise on the ergo project and has stated he personally holds erg. I believe this will cause erg to pump massively in the non so distant future. (please forgive me if anything of this wrong or misstated, and please feel free to correct me in the comments.)
Current price and market cap
At the time I recorded this data, Ergo was trading at $17.85. The current circulating supply is 32,012,428. Its market cap is at a super low 571 million. Could ergo eventually pump up to say one thousand dollars if all the stars line up in place and the moons aligned. What would its market cap be, and what place would it be in on coin market cap if ergo pumped and all other projects stayed exactly the same at the time of recording this data.
If ergo pumped to 100 dollars
Lets just say all other projects are trading sideways and ergo pumped up to 100 dollars. The market cap of ergo would be around 3.2 billion dollars and ergo would be ranked #50 by market cap right behind waves.
If ergo pumps to 500 dollars
If ergo hit 500 dollars the market cap would be around 16 billion and would rank number 12 right behind uniswap.
The white swan event: ergo hits 1k
If ergo pumped to 1k, and time stood still for all other projects. Ergo would have a market cap of around 32 billion which would place it at number 9 right ahead of dogecoin.
The reality
Ergo has so much room for growth its unreal. With great prospects on the horizon; anything is possible. But in reality if Ergo is pumping to these levels, then so is bitcoin, and so is other great projects. It just amazes me how much room ergo has to grow and stretch its legs. This is all DUBIOUS speculation. It most likely will not play out. Thats it for now. Be kind to me and everyone else out there in the cryptoverse.
No comments:
Post a Comment