The revered digital currency, Bitcoin (BTC), appears to have placed itself in the $26,600 realms this week, as it mirrors sentiments amongst traders who digest the recent powerful surge in US yields to walk towards multi-year elevations. This rise is born out of the latest monetary policy announcement by the Federal Reserve, laden with hawkish undertones. Maintaining its stature as the heftiest cryptocurrency by market cap, Bitcoin treads cautiously within the $24,750-$28,500ish range, as it grapples with changing macro climates, issues related to institutional adoption, and a shifting US cryptocurrency regulatory landscape.
However, Ether (ETH) appears to be bobbing on stormier seas, with a recent decline just below the $1,600 mark, effectively down by over 2%. This downturn comes in the wake of a failed attempt to climb above the 21DMA, a stronghold providing herculean resistance over past months.
Meandering market conditions in major cryptocurrency sectors mean traders are casting their eyes upon low-cap coins, often termed as shitcoins and meme coins to find a touch of volatility. The Bear ($BEAR) and Calcium ($CAL) are amongst the sprouting cryptos that have displayed substantial performance, with remarkable trading volumes and climbing market caps, alluding to a potentially lower risk of being scams.
Another such entrant is $MANE, which has also demonstrated an impactful launch. However, in contrast to $BEAR and $CAL, $MANE showcases partially locked liquidity, indicating a probability of a rug pull, an unjust scenario where developers abruptly remove liquidity.
Such investments, notwithstanding their performance, teeter on the extreme edge of risk, given their lack of real value proposition. Cryptocurrency presales can be looked upon as an alternative investment strategy, where investors embrace the risk by purchasing tokens of emerging crypto projects to aid their development. The tokens here, often sold at enormously discounted prices, have a historical tendency to provide immense exponential gains to early investors. Down this line, a list of 15 high-potential crypto presales have been noted by the project team at Cryptonews, who have invested diligent hours in analyzing presale projects.
However, it is imperative to remember that involvement with cryptocurrencies is always high-risk, and the information provided here doesn’t construe investment advice. As with all investment avenues, there is always the potential losing an entirety or a significant portion of the capital invested.
Source: Cryptonews
