The bear market rages on, and digital asset prices plummet. However, one token, Uniglo (GLO), continues to go against the general market direction. Whilst Bitcoin (BTC) and Ethereum (ETH) suffer price corrections due to incredible demand, Uniglo steadily gains.
The bear market has hardened crypto investors, and those still in the sphere set themselves up for marvellous gains in the next bull market. It has made them more interested in value and less in hype, and for this reason, Uniglo attracts growing attention from investors.
Uniglo leverages the programmability of blockchain technology and the nascent trend of asset tokenisation to deliver a growing store of value. Real estate, fine art, and high-end watches represent some of the safest and best-appreciating assets available. However, the capital barrier to entry is high. As more and more assets are tokenised in NFT form, Uniglo facilitates access to these investment vehicles through the Uniglo Vault.
This protocol offers a diversified portfolio to crypto investors by funding asset acquisitions through buy and sell taxes. Holding a diverse range of assets, Uniglo is shielded from a downturn in any area whilst benefiting from wide-reaching potential for growth. The digital asset space desperately needs this store of value, which is why investors are buying GLO.
Bitcoin has broken the $20,000 barrier. Typically the prior cycle’s high represents the bottom of the next cycle, and BTC’s current price is the absolute best accumulation phase. However, this is not a normal cycle; it is the first cycle in a recession. With Jerome Powell maintaining a hawkish stance and further rate hikes arriving, Bitcoin looks ready for another capitulation.
High-risk assets suffer most in a risk-off environment, and as the FED stops buying government bonds, investor money automatically drifts from high-risk investments toward US government bonds. Quantitative tightening only started in June 2022 and is predicted to last two and a half years. Things could get very ugly for Bitcoin.
Ethereum was recently rejected by the 50-day Moving Average line, which continues to act as resistance. Enjoying a huge rally in the lead-up to the Merge, many traders are expecting a buy the rumor sell the news scenario. A further downturn is expected following the merge, and expert crypto traders are calling for ETH to revisit $800.
ETH will also suffer the same fate as BTC as quantitative tightening goes on and money flows away from these risk assets. Nobody can predict where it will bottom out.
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