Bitcoin Forum

$Algo is definitely a good buy around now IMO, the world cup's gonna have a great impact on it. Considering the fact that Algorand is the FIFA official Blockchain and FIFA has teamed up with blockchain technology company Algorand to agree a sponsorship and technical partnership deal. "

Yeah, I heard this from some random tiktok account saying that Algo could hit big as it is the Fifa official blockchain partner.

However, it this is the case then what will happen after the Fifa, so it could be another pump and dump project? I would agree that in the beginning there is a lot of hype as well, specially in the bull run that we have in 2021.

But since we are in the bear market now, who knows, maybe it's a good time to buy this project and wait for the next bull run.

News is that it went as high as +7% in the last 24 hours.

what i ask myself:

will fifa use altcoin in the world cup? I don't think so! So why are people rushing to buy this altcoin? i honestly can't understand how people in this cryptocurrency market think, people run to buy this altcoin even though they know that in the world cup they will not buy this altcoin fifa is just using the altcoin technology and is not buying the altcoin itself let alone not endorsing people to buy that altcoin, so what is the point of people rushing to buy that altcoin?


this is another question, what will happen to altcoin when the world cup ends? also fifa is using the altcoin blockchain and is not buying the altcoin so it makes no sense for people to rush to buy this altcoin or am I missing something?


 ;D

the entire cryptocurrency market has gone up, that's why this altcoins has also gone up, the prices of many altcoins are going up against the BTC - Altcoins  pair

I don't think so, Algorand has become one of partnership for world club but i don't even think if that will have great impact to the algorand. Did you think when people seeing ads of algorand and they will be buying it at the same time? It's a way to make more exposure for algorand but it doesn't mean it will give massive impact to the algorand like massive adoption.


That's a way for algorand to marketing its product but it doesn't mean such marketing can attract massive users to come in a short time. The only possible thing if we can assume a few percents or even less than 1 percents were adopting algorand by seeing that sponsorship.  ;D

All that comes out of news and an increase in the price is purely speculative, in Qatar (where the World Cup is) not many people tend to spend digital money and the cash is still overwhelming, so if we assume that FIFA, for the sake of argument, chose that currency, the percentage increase in demand for it will not exceed 1%, which is different. Just as if Bitcoin was used which is not going to happen soon.

Therefore, it is another form of pumping and differentiation based on spreading rumours.

In Arab countries, cryptocurrencies are not very popular. I have been to many Arab countries and credit cards can only be used in large supermarkets. Small shops are cash only.
If in the United Arab Emirates in large cities it is possible to sell or exchange cryptocurrency, then in Saudi Arabia it is difficult to do this.

Being a World Cup sponsor does not mean being a good fundamental. Because this is not like a traditional business which when sponsoring a big event like the world cup can increase sales. Crypto needs technology and use case, if both have good news, even if it is not a sponsor of the world cup it is possible that cryptocurrency will increase in price and increase in holders. However, for the news about this sponsorship, I think the potential is the remaining flash pump, which needs to be rethought, its good if you can maximize the moments, but not for hold too long when pumping. NFA/DYOR

Too many people on reddit believes in it, but that doesn't mean that it's going to be any good in the future. This just means that it’s going to be liked by many so there is a hype and community around it. Reddit fell in love with Nano as well back in 2018 altcoin run, and you can see how terrible Nano is doing right now, I bought so much and now it worths nothing.

So Algo is a bit like that, there is a hope for it, there are a lot of people who hope a lot from it, and there are eyes on it that watches every single move, all of which is a great thing for any project but that doesn't mean that it’s going to be any good, it could also end up doing terrible as well.

I don't think now is a good time to buy $ALGO. I know that they have partnered with FIFA as their official blockchain. But will this have a huge impact on the price of $ALGO? I don't think so.

The announcement about FIFA partnering with the Algorand blockchain was published a few months ago, and indeed when that happened the price of $ALGO went up, but for now, I feel that the hype is gone. There are no clear and correlated fundamentals between their current partnership. Can we buy world cup tickets with $ALGO? no isn't it?

As someone who's not a fan of it and never held it but as an investor who looks on stats and numbers. I'm not optimistic with its future although if there are fundamentals that makes it good and desirable, that's just my opinion and I would look rather with other altcoins that have potential in my opinion. Just learn the lesson when mostly are bullish, the opposite might come so don't hope and expect a lot from it so that when the expectation you're setting on it didn't come, you're still safe emotionally.

Another old news formation can be bullish but not all paetnership could make a skyrocket move. Ive been seeing algo eversince I saw some slow movement there when regards to market discovery. Yes they make some good increase but if they are slow on progress and developement then still the same. Its not so unique and a lot of same features with other projects so better to step up a lot to be recognize more.

don't be afraid to buy algorand especially now that algorand is a partner of the Fifa World Cup 2022 which will be held this November,
of course I'm sure Algo will also be affected which means that the Bullish for Algorand is true, you can check on Binance or Coinmarketcap how it is performing Algo in this October-November,
yes Algo has experienced a high increase and will certainly be even higher when the event starts.

I agree that ALGO is a good buy.  Here it is important to understand that this project already belongs to the class of classical investing, because ALGO has a large capitalization and it has been on the market for a long time. Let's say there is nothing to do here for x100 profit hunters, but if we are talking about quiet investing in the long term, for example 3-4 years, then ALGO is quite suitable for purchase.