Investment idea: Focus on bitcoin, but not only
ENCRY Foundation co-founder talks about a profitable trading strategy for the coming days
Right now, the main focus of investors' attention in the crypto market is on bitcoin as the largest cryptocurrency asset. How bitcoin behaves in the face of the expected influx of bailout liquidity from the Fed will be how the crypto market moves. It is hard to say yet how long and strong this growth wave will be, but the level of $30k is seen as quite real already in the nearest week, and $35k - as possible in the nearest two-three weeks.
As we remember, growth waves in the crypto market, if they reach a certain power, usually turn into an avalanche-like movement. This applies to panic selling and panic buying as well. If the U.S. banking industry is shaken by a few more major crashes, we can expect a powerful, rocket-like rise in the bitcoin exchange rate. But that is one possible scenario.
Another scenario is that in the coming weeks, the situation in the banking system will settle down, and bitcoin will stop growing and correct around $30K, after which there will be a long period of consolidation until a new trigger factor appears.
When bitcoin grows, altcoins also grow. This can already be seen from the rates of most cryptocurrencies. If an investor's goal is to increase profitability and his risk tolerance allows increasing the share of altcoins in the portfolio, it is worth considering this option. Right now, we can see from exchange activity that investors are actively pouring liquidity into alternative crypto-assets.
One of the favorites is ARB, a token of the Arbitrum network. Next week, the Arbitrum network will host a retroactive airdrop for active community members. A listing of the token on several major trading venues will immediately follow, and it is one of the possible tokens to include in your portfolio.
Crypto exchange Huobi announced the listing of the new token Arbitrum
As it usually happens, immediately after listing, the price can go sharply up and then immediately collapse. This is a good time to enter an asset. Those who would like to exit with a profit, however, should wait. Selling on a listing is a big risk because tens of thousands of other asset holders are likely to do the same.
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