- April 20, 2021
- Posted by: admin
- Category: BitCoin, Blockchain, Cryptocurrency, Investments
Today is April 20. Spring is in the air, and so is the scent of cannabis smoke. 420 day is being celebrated by pot enthusiasts globally, spreading the joy of the medicinal plant millennials love so much. As a crypto-focused outlet, we’re celebrating the big day the best way we know how: by lighting up a freshly rolled detailed breakdown of cannabis crypto coins new and old.
Marijuana Industry In The US Alone Projected To Double By 2025
According to the a new report entitled “Cannabis in America for 2021 & Beyond: A New Normal in Consumption and Demand, New Frontier Data, an authority in cannabis data, analytics, and business intelligence worldwide, claims that US legal cannabis markets alone are projected to double by 2025 to $41.5 billion.
Other estimates project revenue reaching much higher due to the unprecedented growth of the industry. Not only has the cannabis industry been booming due to an increase in medical usage, but more US states are allowing recreational use.
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The added tax revenues have been a positive, with no discernible uptick in related crime. On the contrary, decriminalizing marijuana has eliminated arrests related to its use. There are still legal limitations to discourage abuse of legal limits, however, the flood gets have been opened for widespread usage.
It is for those reasons that this year’s 420 day in 2021, has cannabis investors and pot smokers alike higher than ever before.
No, you aren't seeing things. This fractal could push PotCoin to $1 | Source: POTUSD on TradingView.com
Celebrate 420 Day With A Primer On Cannabis Crypto Coins
Marijuana comes in three main species: indica, sativa, and ruderalis. Cannabis crypto coins, however, are far more abundant. The most prominent are the aptly named PotCoin, and CannabisCoin. There’s Tokes token, HempCoin, Cannation, and DopeCoin (not to be confused with DogeCoin) with a bit of longevity.
The problem is that most of these coins have left holders dazed and confused when any gains from the 2017 bull market were wiped out. Cannabis industry coins, however, have been mostly left out of the recent bull market in crypto, potentially suggesting that they’ve got some catching up to do. The fractal above suggests that these coins specifically are about to catch fire.
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Cannabis stocks on the other hand, had a bad several years after getting ahead of themselves, and now are back to sustained growth. The industry itself is booming, and just like crypto, it is only beginning.
Rather than spending your money on a new piece of glass or some munchies, investing in some of the aforementioned coins instead could lead to new highs – in more ways than one.
Remember, this isn’t investment advice and there’s a chance you might have had too much to smoke today, so don’t make any decisions based on this article. However, if you are one of the many cannabis users out there celebrating today, please celebrate responsibly.
Featured image from Pixabay, Charts from TradingView.com
