In the topsy-turvy world of Crypto, attention has been drawn to the volatile price patterns coming in the last 24 hours. Cryptocurrency giant Bitcoin made the headlines once again hitting its one-and-a-half month low at mid-$28,000s on Tuesday before rebounding to over $30,000 on early Wednesday.
The fluctuation in Bitcoin markets may be influenced by Microstrategy’s hint on selling $750 million in stock to invest in more Bitcoin. Adding to the fray was the US ADP jobs data projecting a positive jobs report on Friday, a contrast to Fitch’s subsequent US government debt credit rating downgrade. This news has affected the wider macroeconomic scene, pushing S&P 500 down and escalating US yields – all of which could be contributing to the Bitcoin’s latest performance.
Meanwhile, other major cryptocurrencies Ether and Litecoin remained relatively stable. Ether stood at close to $1,850 with Litecoin just above $90, their respective anticipated events still moments away.
Crypto enthusiasts, known for their risk tolerance, are turning their gaze towards the volatile meme coin markets – the breeding ground for quick gains. One such is The Next Pepe ($XPEPE), marketing itself as the successor to Pepe Coin. This meme coin has seen a substantial rise, surging 260% in the last 24 hours with a market cap of around $150,000.
Notably also on the rise is Trace AI Token ($TAI), which as per its claim aims to revolutionize the industry by offering avant-garde investment and portfolio management options powered by AI. Trading around $0.0038, it stands near its all-time high. However, concerns arise regarding the token’s un-renounced contract – specifically the modifiable 5% buy and sell tax.
Similarly, Convex CRV ($cvxCRV) made a strong performance soaring 26% before sinking to $0.52. It’s linked to the decentralized exchange, Curve, which faced a hack over the weekend, leading to this volatility.
It is pivotal for investors to diversify their holdings and, at times, consider high risk-high reward investments, such as staking their money in crypto presales. These presales are often sold at a low price, giving investors the chance to potentially pocket massive exponential gains if the up-start crypto projects take off.
Drawing attention to this unfolding scene is the Cryptonews team who have scoured potential presale opportunities, offering a list of 15 promising crypto pre-sales for 2023. However, the caveat with trading in crypto markets remains – approach with caution, as this high-risk asset class could lead to significant losses.
Source: Cryptonews
