About 14 months ago a friend asked me where I would invest my money.
I said, if I had 10,000$ that I could potentially win or lose, I would invest in bitcoin. After buying bitcoin, I would then diversify into Monero, Dash, Ethereum, Zcash, Auger and Ripple.
My difficulty at the time was finding an exchange that I could join while living in Saudi Arabia as a Canadian citizen.
As my friend had a bank account in Europe he was able to purchase bitcoin. We bought some bitcoin and started into the wonderful cryptocurrency world.
I studied each coin and platform trying to see which one had the greatest potential.
My answer was Ripple. “Ripple provides a way to connect banks, exchanges, and corporations to send money globally on the RippleNet.” I translated that into English and it roughly meant, Ripple had created an improved version of SWIFT or wire payments. I watched Ripple and saw a number of Japanese banks join Ripple. Soon banks in Europe, Central America and even my own bank in Canada joined Ripple.
At the time Ripple cost 0.5 cents.
When Western Union joined Ripple we saw the price of Ripple begin to rise. It went UP! It seemed like FOMO* to an extreme I had never witnessed before. When Ripple hit 7 cents my friend was calling every five minutes telling me to sell. I said to wait because I felt Ripple could easily be worth a dollar. In the end I sold out his share of Ripple and he walked off with 4000$ of profit.
Below is the proof.
I held on and watched Ripple develop its price after the correction.
Not more than a month later it seemed word was spreading about Ripple. Japanese exchanges added Ripple to their markets and a large number of investors in Japan and Korea got behind Ripple.
Ripple was gaining support from everywhere. The bank of England was ‘testing’ the Ripple network. Although there has never been an official announcement, I felt that Ripple could be the vehicle to settle Brexit payments.
Ripple absolutely exploded!!! Up and up, all the way to 42 cents!!!
Looking at the graph below you can see how the initial rush to 7 cents was dwarfed by the second wave of investors.
At this point I put more money into Ripple. My notion that Ripple could reach a dollar was not far off. Some other friends were getting interested in this and began investing.
Over a long summer of watching other coins succeed Ripple seemed to loose support. There was no way to get out, so I just put it out of my mind and believed in my original forecast.
I kept reminding myself that on January 1st many banks announced that they would start to use Ripple for cross boarder payments.
Then it happened. With the massive surge in bitcoin and all other cryptocurrencies Ripple also got the exposure it needed. It went white hot reaching as high as 1.05$.
It makes me laugh to look back at the 7 and 42 cent levels on the graph.
Bitcoin and other cryptocurrencies became the talk of the town.
Another friend invested in bitcoin and with the recent correction, he is asking if he should just get out of the market with the losses he has incurred.
Below is the graph of bitcoin and its first major correction. It could just be an incredible coincidence, but doesn’t this graph look a lot like the first spike in Ripple?
Are all these predictions about a 100,000$ bitcoin actually possible?
Cryptocurrencies 