In the crypto sphere, the price of Bitcoin and other major cryptocurrencies has been defined by an unusual calm, almost a stalemate, with Bitcoin hovering around $25,600. This period of low volatility, as revealed by a study from the crypto market intelligence firm Glassnode, has contributed to a decline in liquidity and capital outflows, as investors are seemingly taking a breather.
Despite this placid picture, newer cryptocurrencies are defiantly trending upwards, forging their own narrative. What’s more, is that these budding altcoins, such as BLUI, BONESHI, and KRYDOG, are putting on quite a spectacle.
Blue Coin (BLUI), the star of the show, is currently boasting an eye-popping rise of 8,357.82%. Trading at $0.000000001846, with a symmetrical triangle on the horizon, more volatility is projected for BLUI. A bullish breakout from the triangle could be a green flag for investors, while a breakdown might suggest a bearish reversal.
BONOSHI’s debut itself was a noteworthy event, bulging by an impressive 9,408% in less than three hours of its listing. The current price of BONOSHI sits at $0.0006165. Technical analysis suggests a bounce back is highly plausible with the RSI nearing oversold state and the MACD on the verge of a bullish crossover.
The newcomer KRYDOG rode a wave of bullish momentum, peaking at a surge of 964.33%. Even after a slight correction, KRYDOG has a robust increase of 718.52% under its belt, trading at $0.000008398.
While these flamboyant ups and downs can be exciting, a word of caution is necessary. With any investment, thoughtful analysis is required to manage the swing between profit and loss. The volatility and asymmetry associated with crypto investing can bring tremendous profit as well as substantial losses. Investors need to be prepared to take a hit, go long, and strategically time their exits.
Crypto enthusiasts who are willing to ride the wave of volatility are also often intrigued by presales. Despite the high level of risk, early birds usually get to buy tokens at a discounted rate which could potentially yield significant returns if the projects stands up to the test of the market.
Experts at Cryptonews.com are continually digging through uncharted territory to identify lucrative presale opportunities. As they spotlight potential stars of 2023, investors who are receptive to taking calculated risks might want to keep an eye on these hidden gems.
Source: Cryptonews
