How to Face The Bear Market and 2 Altcoins Can Make Profits In This Situation
Bitcoin and the entire cryptocurrency market are deep in the red with many Altcoins in double-digit percent losses. Is this the end for Bitcoin and the entire cryptocurrency market or do we have one last chance to turn bullish?
In the latest video, Joe Parys, a well-known entrepreneur in the crypto space has revealed the way to face the bear market and the top 2 altcoins that can make profits, even when the market is going down.
Bitcoin’s Price Analysis and way to face the bearish
Bitcoin dumps to hit six-month lows near $38,000 and Bitcoin is leading the way down for all cryptocurrencies as macro indicators may spell disaster for the market in the short term according to some analysis.
As we saw yesterday Bitcoin was sitting at $43,000, it looked like there was going to be another rally potentially back up to 45 and even beyond, as we all know Bitcoin has now dumped 7.5% in the last 12 hours plunging from six-month lows from $43,000 at $38,258 at 4 PM UTC on Friday. BTC’s price is trading at $35.41 at press time.
BTC Chart | Source: Coinmarketcap
It looked like there was going to be another rally potentially back up to $45,000 and even beyond.
We could go lower, there are always massive risks in cryptocurrency and this goes beyond the technicals of crypto itself. Joe recommended traders to sit back and just watch. We could potentially go lower or this could be one last chance before we reverse back towards the upside.
Joe recommended: “I am definitely waiting on the sidelines to see what happens in the next few days. We will have a decision made for us and if the market drops down below $38,000”.
The first altcoin that still can earn profit during the bloody market is SundaeSwap (SUNDAE). SundaeSwap is the sweetest decentralized exchange on Cardano and aims to be the platform for future financial innovation.
SundaeSwap is live and users can take your Cardano (ADA) and trade it for new tokens. 1 SUNDAE is worth approximately $0.62 at time of recording. Yesterday, this altcoin’s price was $0.2.
So even while the entire market was literally deep in the red if you would have gotten your hands on some sweet SUNDAE tokens, you would have been in profits and there is upside potential here in crypto in the short term.
The second altcoin to mention is Verve (VERVE). Verve puts content creators at the helm and provides the tools and features you need to create and serve highly engaging, interactive content to a wide range of viewers.
VERVE is still sitting at 29x from the pre-sale price, which is still very nice profits even when the market is going down. VERVE went all the way as high as approximately 38x. VERVE is changing hands at $0.02.
So, even though the market is bearish, we still have some opportunities to multiply your money exponentially.
VERVE Chart | Source: Coinmarketcap
Sign up for a Binance account here (Discount 10% trading fees): https://accounts.binance.com/en/register?ref=29171587
- No, Ripple CEO Brad Garlinghouse Is Not Giving Away XRP
- What Made The SEC Change Its Mind After 2018 And Claim That XRP Is A Security Now