1. Elongate is a new cryptocurrency that could potentially see a lot of growth in 2021. Here are some reasons why:
2. Elongate has a very low supply of only 10 million coins, which could lead to high demand and price appreciation as more people learn about the project.
3. The team behind Elongate is very experienced and has a strong track record in the crypto space.
4. Elongate has a number of partnerships already lined up, which could help drive adoption and use of the coin.
5. The Elongate project has a lot of potential and could solve some major problems in the crypto space.
6. Elongate is still very undervalued at its current price and has a lot of room to grow.
7. All of these factors could lead to Elongate seeing significant price appreciation in 2021 and beyond.
2. What is Elongate and What Makes it Attractive?
What is Elongate and What Makes it Attractive?
Elongate is a cryptocurrency that was created as an alternative to Bitcoin.It is based on the Bitcoin protocol but uses a different hashing algorithm, which makes it more resistant to ASIC mining. This makes Elongate more accessible to small-scale miners and gives it a more decentralized mining pool. Elongate also has a faster block time and a larger block size, which allows for more transactions to be processed per second.
What makes Elongate attractive is its low price and its potential for price appreciation. Elongate is currently trading at around $0.30, which is a fraction of the price of Bitcoin. This makes it a great entry-level coin for investors who are looking to get into the cryptocurrency market. Elongate also has a strong community behind it and is constantly being developed. The team behind Elongate is also working on adding new features to the coin, which could make it even more attractive to investors in the future.
3. Elongate Price Forecast for 2021
The year 2020 was a big year for the cryptocurrency market. Bitcoin surged to new all-time highs and altcoins followed suit. However, one altcoin that outperformed the rest was Elongate.
Elongate is a cryptocurrency that was created as an alternative to Bitcoin. It has a faster transaction speed and a lower transaction fee. Elongate also has a larger total supply than Bitcoin, which makes it a more attractive investment for long-term growth.
In 2021, I believe that Elongate will continue to outperform the market. Here are three reasons why:
1. Elongate’s transaction speed is faster than Bitcoin’s
One of the biggest criticisms of Bitcoin is its slow transaction speed. It can take up to 10 minutes for a Bitcoin transaction to be confirmed. This is a big problem for businesses that need to move money quickly.
Elongate solves this problem by having a faster transaction speed. Elongate transactions are confirmed in seconds, which makes it much more practical for businesses to use.
2. Elongate has a lower transaction fee than Bitcoin
Another criticism of Bitcoin is its high transaction fees. When Bitcoin’s price goes up, so do its transaction fees. This can make it very expensive to send or receive Bitcoin.
Elongate has a lower transaction fee than Bitcoin, which makes it more affordable to use. This is a big advantage for businesses that need to send or receive money frequently.
3. Elongate has a larger total supply than Bitcoin
Bitcoin has a limited supply of 21 million coins. This is one of the reasons why Bitcoin’s price has gone up so much. There are only a limited number of Bitcoin that will ever be mined.
Elongate has a larger total supply of 100 million coins. This makes Elongate a more attractive investment for long-term growth.
I believe that Elongate is a strong investment for 2021. The cryptocurrency has a number of advantages over Bitcoin, including a faster transaction speed, lower transaction fees, and a larger total supply. I believe that Elongate will continue to outperform the market in 2021.
4. Key Drivers of Elongate’s Price in 2021
Bitcoin’s meteoric price rise in 2017 captured global attention and ushered in a new era of cryptocurrency investment. The price of Bitcoin rose from around $1,000 in January to almost $20,000 by December, a 20-fold increase. The run-up in price was driven by a number of factors, including increasing demand from Japanese and South Korean investors, as well as growing mainstream interest in cryptocurrency.
The price of Bitcoin and other cryptocurrencies fell sharply in 2018, amid concerns about regulation and a general loss of interest in the space. However, the market has begun to recover in 2019 and there are a number of factors that could drive prices higher in 2020 and 2021.
1. Increasing institutional investment
Institutional investors have been slowly but surely increasing their exposure to cryptocurrency in recent years. The most notable example is the investment firm, hedge fund manager, and venture capitalist Tim Draper. In 2018, Draper predicted that the price of Bitcoin would reach $250,000 by 2022.
Other institutional investors that have dipped their toes in the cryptocurrency market include the investment firms Andreessen Horowitz, Sequoia Capital, and Union Square Ventures.
2. Growing mainstream adoption
The mainstream adoption of cryptocurrency is still in its early stages, but there are signs that it is slowly gaining traction. For example, the Chicago Mercantile Exchange (CME) launched Bitcoin futures contracts in December 2017. This allowed institutional investors to gain exposure to cryptocurrency without having to buy the underlying coins.
In addition, a number of major retailers and e-commerce platforms have started accepting Bitcoin and other cryptocurrencies as payment. These include Overstock.com, Microsoft, Expedia, and Shopify.
3. Favourable regulation
The regulatory environment for cryptocurrency has been improving in recent years. In 2017, the Japanese government recognized Bitcoin as a legal form of payment. This helped to boost confidence in the market and led to an influx of Japanese investors.
Similarly, in 2019, the US Securities and Exchange Commission (SEC) approved a number of cryptocurrency exchange-traded funds (ETFs). This marks a major step forward for the industry and could pave the way for more institutional
5. Risks to Elongate’s Price Forecast
The 5 risks to elongates price forecast are:
1) Lack of adoption: If elongate is not widely adopted by businesses and individuals, its price will likely remain low.
2) Lack of utility: If elongate does not have a strong use case, its price will likely suffer.
3) Competition: If there are other cryptocurrencies with similar or better features, elongate could struggle to gain traction.
4) Regulatory uncertainty: If governments crack down on cryptocurrency trading or mining, elongate’s price could be negatively affected.
5) Market volatility: Cryptocurrencies are notoriously volatile, and elongate is no exception. Prices could rise or fall sharply in the short-term, making it difficult to predict its long-term price.