Bitcoin price has increased by 4% in the last 24 hours, reaching almost $19,000 after the publication of positive US inflation data yesterday. Its current price marks a 12% gain in one week and a 6% gain over the past 30 days, as signs of recovery in the global economy raise hopes that 2023 will correct the bears of 2022.
Given its status as the original cryptocurrency with the largest market cap and strongest network, bitcoin is likely to be at the forefront of any new bull run. And now may be the best time to buy the virtual currency, which is starting to retrace its bear market lows.
After Bitcoin Price Surged 12% to $19k Is It Time to Buy the Top Crypto Coin?
it is not only Positive US Inflation Data This has turned investor sentiment but the publication of other encouraging economic data. It also contains shocking news The UK economy actually grew in November (by 0.1%), as well as similar recent updates France And Germany,
Taken together, such data invite skepticism that the global economy is starting to turn a corner after the Ukraine war and prolonged Covid threats last year into recession. As a result, it has been a very good few days for the markets. Nasdaq jumps 4.1% in one week,
This includes the cryptocurrency market, which is up 3% today and 11% in seven days. Bitcoin has trailed these market-wide gains, and it will likely continue to do so in the short and medium term.
There are many reasons for this. Most simply, BTC has historically led crypto bull markets, as seen in 2020-21 and late 2017. So it stands to reason that without bitcoin first the rest of the market would not grow significantly.
More fundamentally, bitcoin continues to attract more institutions with corporate and public treasuries than any other cryptocurrency. Holding just over $30 billion worth of BTC as of writing, In fact, according to the Basel Committee of BIS, The world’s banks hold over $9 billion in crypto56% of this total consists of bitcoin or bitcoin-based derivatives.
Indeed, even with the bear market of 2022, financial institutions are rolling out cryptocurrency services, while approx. Three quarters plan to invest in crypto in the future, For example, BNY Mellon And N26 have launched crypto-related services in the last few months, their names include A growing list of banks with offerings related to some form of digital asset,
Simply put, if the global economy is going to make a significant recovery this year and (institutional) investors are going to feel confident enough to invest in high-yield assets like cryptocurrencies, bitcoin is going to lead the way. .
Conversely, if the global economy continues to face recessionary conditions, and if the cryptocurrency market declines further (something that may lead to impending legal actions), so BTC still remains an investor’s best bet as far as crypto goes. Its dominance in the market has increased during the last few months (38% to 40%), doing so investors tend to run towards ‘safety/quality’.
pre-sales may increase
While bitcoin is a comparatively safe investment, there are other coins that could rise higher in both scenarios, whether the market corrects or continues to struggle for several more months. In particular, pre-sale tokens have had a good 2022, in many cases rising rapidly since they were first listed on exchanges.
For example, Tamadoge (TAMA) An increase of up to 1,800% compared to its pre-sale price In October, when it was listed on OKX. Not only that, but Lucky Block (LBLOCK) and Battle Infinity (IBAT) saw an equally high growth 6,000% And 3,000% In February, compared to a selling price of $0.00015.
This shows that, even during a bear market, a first-time pre-sale token listing can still turn a profit for investors, assuming they time their entry and exit well enough. Accordingly, we have compiled four of the most promising pre-sale tokens in the market, each boasting strong fundamentals.
Meta Masters Guild (MEMAG)
One of the latest sales in the ecosystem, meta masters guild raised over $70,000 in its first 24 hours. This is an encouraging achievement for the play-to-earn crypto game platform, which will be using Web3 and its ever-expanding roster of play-to-earn games to launch its first game (Meta Kart Racers) in the third quarter. Will be done. of the year.
Investors can participate in the sale by heading over Official Meta Masters Guild Website and connecting their Wallet Connect or MetaMask Wallet. The offering will have a total of seven phases, with the first — and current — phase offering 1 MEMAG for $0.007 (though this price is already due to increase by 42% next week).
Together The platform is already attracting over 22,000 followers on TwitterIt has all the makings of a successful and popular addition to the P2E sub-sector.
Visit the Meta Masters Guild now
Fight Out (FGHT)
to fight (FGHT) is an Ethereum-based platform that aims to innovate in the monetization space, connecting real-life workouts with Web3 and Metaverse. It will track and reward a wider range of activities than the earlier M2E platform, offering workouts in boxing, weightlifting and yoga, while also providing a variety of in-app and IRL courses at its own branded gyms.
Its token sale opened in December and Has already raised over $2.8 million, with 1 FGHT currently selling for $0.0166. The sale is scheduled to end by Q2 2022, which is when its app is scheduled to launch.
C+ charge (CCHg)
Appealing to crypto’s growing army of eco-friendly investors, c+ charge (CCHG) is a BNB chain-based peer-to-peer payment network for electric vehicle (EV) charging stations. It aims to use blockchain and crypto to widen access to carbon credits, with its core CCHG set to be used by EV owners within its network to pay for charging their vehicles.
C+Charge will also reward users with NFT-based carbon credits for charging their EVs at its stations, thereby incentivizing people to be eco-friendly. promisingly, it has signed a partnership with flowcarbon And with Perfect Solutions Turkey, adding 20% of its EV chargers in Turkey to its already expanding network.
Calvaria (RIA)
Calvaria, a play-to-earn battle card game, has entered the final stages of its token sale, after raising over $2.7 million to date. As such there is only 11% of RIA coins available with tokens left due to listing on exchanges LBank Exchange And BKEX Global over the next few weeks.
Available on the PC and mobile app stores, Calvaria aims to appeal to a wider pool of gamers, given that it doesn’t require cryptocurrency to play. It is scheduled to launch in the second quarter of 2023, with its world set in the mythical afterlife.
Characters will be animated in full 3D, while players will have the ability to earn and upgrade collectible cards used to battle with various factions in the game’s universe. And given that these cards will be NFT-based, they will also be tradable.
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