Read the ninth part of our Moonshot series here, which focuses on Bitcoin Private.
Each week BTCManager and the JaketheCryptoKing are going to explore a new moonshot opportunity. We are in week ten of this moonshot experiment! Markets just suffered a major correction providing the perfect opportunity for some moonshot shopping at discounted prices. The moonshot for the week beginning April 2, 2018, is BRD.
A moonshot is an altcoin that can provide returns multiple times greater than the leading cryptocurrencies if they meet their ambitions outlined in their roadmap. With over 1400 cryptocurrencies, it is obvious there will be some true “moon” opportunities among the pack. Most moonshots take the form of smaller cap cryptos. Moonshots are very different than most cryptos as they are meant to be purchased and held. Moonshot principles are vastly different than those implemented by day traders and short-term holders. These unique cryptocurrencies should be chosen if you see their long-term value and expect returns of hundreds if not thousands of percent.
This week’s Moonshot is BRD. The week ahead provides a unique opportunity for BRD to create utility for their token and add features to their wallet applications. When analyzing a crypto, it is exceptionally important the underlying cryptocurrency has both utility and market adoption. Utility is essential because, without it, a token is purely speculative. Market adoption is imperative because to have users purchasing they must be able to acquire and transact with the given crypto. This week provides a unique opportunity for BRD to begin its shuttle launch to the moon as their application adds features and their token adds utility.
Bread (BRD) was an ICO that concluded December 19, 2017. They hit their hard cap, raising just over $20 million. Since their token sale, the value of BRD has decreased 40 percent when compared to the price in USD at the time of purchase. When compared to ETH it has dipped four percent, and when compared to BTC it has actually risen 40 percent. BRD is currently priced at $0.428 per coin with a market cap of $32 million. This is far short of the $3.27 per coin and $195 million market cap BRD maintained on January 7, 2018. BRD is currently valued at only 15 percent of their ATH and is about to have a token and application whose utility increases dramatically.
In the crypto world, a token with added utility removes it from the speculative pool and places it in the real world use category. Currently, the Bread wallet application does not have the capabilities to hold ETH, ERC-20 tokens or BCC. This is very surprising given BRD is an ERC-20 token. However, BRD is about to solve this slight issue (April 7, 2018). The BRD wallet applications by this date are supposed to be updated to be able to hold ETH, ERC-20 tokens (BRD) and Bitcoin Cash (BCC). The Bread wallet currently only has the functionality to buy, sell, and transfer BTC. When the wallet adds the ability to buy/sell/transfer BRD, ETH, and other ERC-20 tokens the value of BRD and utility will both increase substantially.
The plan according to BRD is to update the iOS and Android applications to support ETH, ERC-20 tokens, and Bitcoin Cash (BCC) by April 7, 2018. If successful, which is assumed for them to be a moonshot, the value of the BRD token will increase due to the application’s ability to handle many new tokens. An added bonus that is occurring in the short term is adding utility and purpose to the BRD token.
The Bread application allows users to purchase, transfer, and sell BTC (and many more cryptos in the near future). A second part of the plan is to integrate the BRD token into the wallet application in a manner in which larger holders of BRD will receive added benefits. They could range from the percentage charged to purchase BTC via a credit card being decreased to the lowest on the market to increased withdrawal and deposit limits. The more BRD tokens the wallet user holds, the more advantages they will be able to “unlock” in their wallet.
This week should be the last week the Bread application cannot hold BRD tokens. By incorporating BRD, ETH, ERC-20 tokens, BTC, and BCC all in one mobile wallet, many individuals may begin using Bread for its overwhelming benefits. Once BRD can be held on the Bread application, the plan is to allow BRD to be used to “unlock” special features within the app. Being able to transact with a multitude of tokens on the Bread application coupled with an added benefit to holding large quantities should create an environment where BRD increases in value due to restricted supply, increased demand, and increased utility.
BRD’s token is about to be given significant utility by being able to provide the holder special benefits within the Bread application. This system creates an environment where holders of BRD are not selling but continuing to accumulate as their will be benefits based on quantity held. Supply of BRD on exchanges will decrease as wallet users transfer their tokens to their application. This will decrease supply on exchanges just as more users are trying to purchase BRD for their added benefits in the wallet. The result will hopefully be a situation where all holders are enjoying making that BRD.
Supply will decrease on the open market, demand will increase at a much more rapid rate just as supply is being restricted, and the final catalyst will be the added utility of the BRD token driving demand while intentionally restricting supply. BRD should appreciate nicely as long as they complete integration of ETH and ERC-20 tokens on their platform.
Time to make that BRD!
To read the full article with extended market analysis check it out here:
To read the King’s prior articles, to find out which ICOs he currently recommends, or to get in contact directly with the King, you can on Twitter (@JbtheCryptoKing) or Reddit (ICO updates and Daily Reports).
To read the entire Moonshot series, click here.
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