Although the markets have entered bear mode due to Bitcoin, no decline continues forever. If you have spent a few years in the cryptocurrency markets, you must have breathed a similar air countless times. Popular cryptocurrency analyst Joe Parsys recently shared with his subscribers 5 altcoins that will take flight in 2022. According to the analyst, the price of these 5 altcoins has the potential to increase by 1000% next year. So, which are these altcoins that can make investors rich?
The first cryptocurrency that Joe mentioned is VeChain, a blockchain designed to improve supply chain management and business processes, and is well known to many investors. Its purpose is to facilitate these processes and information flow for complex supply chains through distributed ledger technology (DLT).
“Vechain’s chart has a nice symmetrical triangle, this will potentially present a huge opportunity once the price reverts to the trendline. In the short term, I think investors can catch 200% or even 300% opportunities”.
Expecting an increase of up to 300% in the short term, Joe predicts that the price may increase 10 times in 2022.
The second crypto gem on Joe’s list, Fantom (FTM) is a decentralized, permissionless, open-source smart contract platform for decentralized applications (dApps) and digital assets for those who don’t know. It is just one of many blockchains created to provide an alternative to Ethereum.
Joe sees Phantom sitting on the trendline and we could see a nice comeback. If we break this trend and resistance, we could return to the $3 price in February or March of 2022.
Cardano (ADA), a blockchain platform built and developed on the Ouroboros proof-of-stake consensus protocol, ranks third in the list.
Joe wants short-term traders to follow the support zone on the chart he shared.
Moonriver is an EVM-compatible blockchain running as a parachain on the Kusama network. Joe added this altcoin to his list because it is an alternative with high potential but low current value. The network offers a variety of features to developers, including the ability to deploy Solidity smart contracts, Web3 compatible API, oracle data feeds, and Ethereum network bridges.
The analyst thinks that the price is back to the trendline and the $500 zone will regain. Joe describes the current $189 price as pretty cheap. The total supply of the token is only 10 million and this is one of the main reasons that feeds the price.
MATIC is an altcoin that can remain relatively strong even on days when the market is under heavy pressure, Joe added it to the bottom of the list. Polygon has a mission to create Ethereum compatible blockchains and connect them. It supports a multi-chain Ethereum ecosystem and provides scalable rollups on Ethereum.
Price recently tested the ATH zone. However, it bounced back from the $2.45 levels. At the time of writing, it continues to hold above 2 dollars. The price clinging to the uptrend region is guarded by the excitement of purchasing Mir for $400 million. Polygon acquired Mir, a zero-knowledge proof solution, for $400 million to further develop its technological capabilities. Joe thinks this money spent on infrastructure will skyrocket the price of MATIC next year.