It\u2019s ugly out\u00a0there.<\/p>\n
Fears over the trade war\u2026 tariffs\u2026 inflation\u2026 and a potential recession continue to drag markets\u00a0down.<\/p>\n
The S&P 500 and Nasdaq are in a bear\u00a0market.<\/p>\n
This weakness spilled over into\u00a0crypto.<\/p>\n
During nasty drawdowns folks sell whatever they can. Quality assets often get slammed during selloffs, even if there\u2019s no fundamental reason to sell them. That\u2019s what happened with\u00a0crypto.<\/p>\n
Bitcoin (BTC) is down another 16% since tariffs were announced. Ethereum (ETH)<\/a> and Solana (SOL)<\/a> are down another\u00a030%.<\/p>\n I understand these selloffs can be scary, especially if this is your first time experiencing a drop like this in\u00a0crypto.<\/p>\n My friends, do not panic or hit the sell button. For long-term investors like us\u200a\u2014\u200awho are putting money to work for the next 5\u201310 years\u200a\u2014\u200athis is a buying opportunity.<\/strong><\/p>\n Crypto is one of the best assets to own long-term.<\/p>\n Look at bitcoin\u2019s performance vs the S&P 500 and Nasdaq 100 over the last two\u00a0years:<\/p>\n Source: Koyfin<\/em><\/p>\n S&P 500 and Nasdaq returned 20% and 30%. Meanwhile, BTC surged\u00a0175%.<\/p>\n And bitcoin is up 30,000% in the last ten years. Despite loosing 80% of its value on two different occasions.<\/p>\n I bet that a year from now, this will look like a great buy-the-dip opportunity.<\/p>\n So keep a long-term view and use this selloff to accumulate quality cryptos at a discount.<\/p>\n There are several I like trading below $1. RiskHedge Venture <\/em>subscribers<\/a> already know which I like the\u00a0best.<\/p>\n Today, I want to tell you about my 2nd best choice: Hivemapper (HONEY).<\/p>\n I first recommended Hivemapper (HONEY)<\/strong> to my RiskHedge Venture <\/em>subscribers <\/a>in November\u00a02022.<\/p>\n A year later, we sold half of that position for a 1,050% gain. We continue to hold the other half (+320%) as of this\u00a0writing.<\/p>\n This may look like you\u2019ve already missed the boat. But don\u2019t worry, Hivemapper is still a very early-stage crypto. It hasn\u2019t even made it into the top 100 cryptos by market cap yet (currently, it\u2019s in the 250th spot). There\u2019s still plenty of\u00a0upside.<\/p>\n Remember old-school paper maps you had to unfold and fold all the\u00a0time?<\/p>\n You rarely see them anymore. These days, we rely on apps like Google Maps to get\u00a0around.<\/p>\n Most people use Google Maps multiple times a day, without even realizing it. They use it each time they book a room on Airbnb\u2026 hail a ride on Uber\u2026 review a restaurant on TripAdvisor\u2026 order groceries via Instacart\u2026 scope out a neighbor\u2019s home on Zillow\u2026 track their UPS delivery\u2026 or order food on DoorDash.<\/p>\n Every single one of those services runs on Google\u00a0Maps.<\/p>\n \u201cMapping\u201d might seem like an obscure industry that doesn\u2019t really matter. But it\u2019s a multibillion-dollar industry\u200a\u2014\u200aand Google (GOOG)<\/strong> dominates about 85% of it. Morgan Stanley estimates Google Maps raked in $11.1 billion in revenues in\u00a02023.<\/strong><\/p>\n Building and maintaining a global map is incredibly expensive and time-consuming. There are an estimated 40 million miles of roads around the\u00a0world\u2026<\/p>\n And roads and routes change all the time, which means you have to re-map them regularly.<\/p>\n Each Google Street View car costs $500,000 to outfit. And Google spends an estimated $2 million per day maintaining and updating its maps. Even with all of Google\u2019s money and might, most roads around the world are only updated every 18\u201324\u00a0months.<\/p>\n That\u2019s a big problem for businesses like Uber and UPS, that rely on fresh, up-to-date maps.<\/p>\n There\u2019s another issue with Google Maps: It\u2019s super expensive. Uber alone paid Google Maps roughly $60 million between 2016 and 2018. That\u2019s over $50,000 per\u00a0day!<\/p>\n Here\u2019s how it\u00a0works\u2026<\/p>\n Hivemapper makes a 4K, high-definition dashcam that\u2019s roughly the size of a deck of\u00a0cards.<\/p>\n Anyone can buy one of these dashcams and attach it to their rearview mirror like\u00a0this:<\/p>\n Source: Hivemapper<\/em><\/p>\n The camera automatically \u201cmaps\u201d the roads as you drive around, just like a Google Street View car. Hivemapper then feeds these images into its global\u00a0map.<\/p>\n The best part? Hivemapper pays you in crypto for updating its map. In other words, you can earn Hivemapper\u2019s token\u200a\u2014\u200aHONEY\u200a\u2014\u200aby simply driving your\u00a0car.<\/strong><\/p>\n Hivemapper contributors have already mapped 477 million km of roads. For perspective, that\u2019s nearly three times the distance from Earth to the\u00a0sun.<\/p>\n This is a FAR better way to build and maintain\u00a0maps.<\/p>\n Even with hundreds of Street View cars and cash to burn, Google maps a road roughly once every 18 months. With an army of contributors across the world, Hivemapper can map the same road at least once a week. Crypto incentives will motivate contributors to frequently update the\u00a0maps.<\/p>\n During testing, Hivemapper found it \u201csees\u201d any given street 25X more frequently than\u00a0Google.<\/strong><\/p>\n Think about it this way\u2026 Google only gets one shot at taking a high-quality photo of a road once every few\u00a0years.<\/p>\n Hivemapper gets 25X more opportunities. This gives it a far better chance of building a high-quality, \u201cfresh\u201d map businesses will pay to\u00a0access.<\/p>\n Look at these two shots of the same road sign, for example. You can see Google\u2019s image (left) is blurry. Hivemapper\u2019s photo (right) is far\u00a0clearer.<\/p>\n Sources: Google Maps; Hivemapper<\/em><\/p>\n Hivemapper is building a much fresher map that covers our whole world. Google\u2019s few hundred Street View cars can\u2019t compete with millions of individual contributors who will cover every inch of highway around the\u00a0world.<\/p>\n Hivemapper also has a huge cost advantage over Google. Each Street View car costs roughly $500,000. Hivemapper\u2019s dashcams cost 1\/1,000th of that. And unlike Google, Hivemapper doesn\u2019t have to pay folks salaries to drive around all\u00a0day.<\/p>\n This will allow Hivemapper to undercut Google on price and eventually lure its high-paying customers away.<\/p>\n Back in 2022, HONEY reached an all-time high of $0.43. It currently trades at around\u00a0$0.03.<\/p>\n That\u2019s your buy-the-dip opportunity. You can buy HONEY on Coinbase.<\/p>\n P.S: <\/strong>Learn about two other early-stage cryptos I like by clicking\u00a0here<\/strong><\/a>.<\/strong><\/p>\n For more insights and analysis, subscribe to The\u00a0Jolt\u26a1<\/em><\/a>.<\/em><\/p>\n We publish fresh research every Monday and\u00a0Friday.<\/p>\n Click here to learn\u00a0more<\/a>.<\/p>\n \u2014 Stephen McBride, Chief Analyst at <\/em>RiskHedge<\/em><\/a><\/p>\n My 2nd best crypto trading under $1<\/a> was originally published in Coinmonks<\/a> on Medium, where people are continuing the conversation by highlighting and responding to this story.<\/p>","protected":false},"excerpt":{"rendered":" Plus two more early-stage cryptos on my\u00a0radar It\u2019s ugly out\u00a0there. Fears over the trade war\u2026 tariffs\u2026 inflation\u2026 and a potential recession continue to drag markets\u00a0down. The S&P 500 and Nasdaq are in a bear\u00a0market. This weakness spilled over into\u00a0crypto. During nasty drawdowns folks sell whatever they can. Quality assets often get slammed during selloffs, even […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-58011","post","type-post","status-publish","format-standard","hentry","category-interesting"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/58011"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=58011"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/58011\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=58011"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=58011"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=58011"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Hivemapper (HONEY)\u200a\u2014\u200athe next Google\u00a0Maps<\/strong><\/h3>\n
Hivemapper is disrupting one of the biggest monopolies right\u00a0now\u2026<\/strong><\/h3>\n
Hivemapper invented a whole new way to build\u00a0maps.<\/strong><\/h3>\n
Hivemapper is only getting off the ground. But I\u2019m predicting it will eat Google Maps\u2019 lunch in a few\u00a0years.<\/strong><\/h3>\n