Bitcoin seems to be pushing higher, with little to no movement in then altcoin market. This is due to uncertainties that have hit the market lately. For instance, there is still lots of uncertainty around Tether after it emerged that U.S authorities were investigating it. Then a few days ago came the Binance hack, where 7000 BTC were stolen. With all these factors at play, people are seeking safety in Bitcoin (BTC), which is the safest of all cryptocurrencies, due to its network effect.
However, this doesn’t mean that altcoins won’t rally at some point. If Bitcoin sustains its bullish momentum above $6k, positive sentiment will return to the market, and money will start flowing into altcoins as well. Altcoins tend to offer a higher level of gains in bullish markets, the same way they dropped hardest in the 2018 bear market. With this in mind, one altcoin that holds lots of potential is Nano (Nano). There are a number of factors that could see the value of Nano (Nano) push up significantly in an altcoin bull market.
The first one is the strength of its developer team. Nano has an amazing team behind it, a team that not only pushes Nano forward in terms of technical capabilities, but also listens to the community. For instance, they have taken community views, and are now moving to improve on Nano documentation. Here is what the team has announced about Nano documentation on Reddit.
“After careful consideration of feedback kindly provided by community developers and our own internal reviews, we have started the process of improving the Nano documentation. We have consolidated some of the primary resources into a single location, with better formatting, and in a setup that allows easier submission of changes. This includes existing content from https://developers.nano.org/ and https://github.com/nanocurrency/nano-node/wiki, along with some additional items. Today we have open sourced the initial draft of this new documentation which can be found here: https://github.com/nanocurrency/nano-docs. The MkDocs (https://www.mkdocs.org/) based setup will be published to the web soon but we wanted to get the repository available so any interested community members can run it locally and submit any necessary changes before the first publish.”
This is a level of transparency that is lacking in many altcoins, and a good reason to hold Nano (Nano). Besides, this transparency, Nano (Nano) is one of the cryptos that have a competitive edge against centralized systems, in the payments space. That’s because, it is highly scalable, and its transactions are free. The idea of instant and feeless transactions makes most payment methods in existence today obsolete. It gives Nano a huge advantage in terms of adoption, something that could push up its intrinsic value by a huge margin. In a bull market, this could see Nano gain value much faster than the average altcoin. It’s next-gen crypto that could revolutionize payments.
Besides, Nano (Nano) has a relatively low supply compared to most altcoins whose coin supply runs in the billions. This could give it the impetus to rise fast in a bullish market. For someone betting on an altcoin resurgence, Nano (Nano) is a coin that makes lots of sense to keep an eye on this year. Double or even triple-digit valuations for Nano are possible if Bitcoin breaks back above $10k and positive sentiment returns to the market.