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The crypto market is known for its volatility, which is one of the main reasons why some traders prefer the nascent market. Bitcoin (BTC), the first cryptocurrency in the world, has a history of printing new all-time highs time and again. Ethereum follows a similar pattern and this has helped it to be the king of altcoins, at least in terms of market capitalization.
The crypto market, alongside the broader financial markets, has taken a downturn due to inflation, geopolitical tensions, and other reasons. This will not remain in place forever and at some point, the cryptocurrency market will recover. When this happens, will Parody Coin, BTC, and Ethereum reach new highs?
It's been a rough year for Bitcoin and some of its cousins. However, some of the market participants are not fazed because they know the history of BTC and what it is capable of.
Bitcoin hit a high of nearly $20,000 in December 2017 before nosediving a few days later. The price of the leading cryptocurrency continued to fall and the industry entered a bear market for the whole of 2018. By the end of 2018, BTC was exchanging hands for just around $4,000.
Bitcoin recovered tremendously but when the coronavirus pandemic shook the world in H1 2020, BTC tumbled again and reached fresh lows. It was followed by a bullish phase that saw the leading digital currency surpass its previous high of $20,000 and mint a new all-time high just shy of $70,000.
These are only a few instances where Bitcoin has greatly recovered. Experts and long-time holders with skin in the game know that it is a matter of time before bitcoin hits another all-time high.
Those in the know predict that Bitcoin will hit a price of $100,000 in the future. The digital asset tends to lift the entire market with it. This will be great news for the market including Parody Coin.
Parody Coin is an upcoming meme coin still in its infancy stage. However, it has shown a lot of character by integrating the NFT space.
The project allows PARO token holders to mint parody NFTs. The parody NFTs can then be listed on the platform's exclusive NFT marketplace. This is a way of building a community of passionate cryptocurrency NFT enthusiasts.
The project is minting a total of 240 billion PARO tokens. This is to minimize inflation and keep the price of the PARO token high.
In the roadmap, the project will audit its smart contract with Certik, a trusted name in blockchain security. This is important as it calms the nerves of investors. Blockchain projects have been exploited by hackers due to lax security.
Parody Coins will be listed on centralized exchanges. This will enable more people to trust it and throw their weight behind the project.
Parody is currently in the presale stage where investors can buy PARO tokens using major cryptocurrencies such as ETH, BTC, LTC, XRP, and Tether (USDT) among others. This project has the potential to reach a new all-time high when the market becomes bullish.
It is almost nearly impossible to bet against Ethereum reaching another all-time high. Ethereum is gearing toward the Ethereum Merge, where it will switch from Proof-of-Work to a Proof-of-stake consensus mechanism. There will be no miners on Ethereum and transactions will be validated by stakers.
This is an exciting time for Ethereum as the wider cryptocurrency market has been waiting for this moment for a long time.
If Ethereum delivers on the expectations, its price will rise. It will likely lift other cryptocurrencies as they will likely benefit from this momentum. Parody Coin may still be new, but it was created by people in the industry. They know what to do at specific points and they will use the highly anticipated Ethereum Merge to benefit PARO token holders.
Website: https://parodycoin.io/
Twitter: https://twitter.com/ParodyCoin
Telegram: https://t.me/PARODYCOIN_OFFICIAL
