Possible Cryptocurrencies or Tokens in Coinbase
Where a better valuation has been observed in the last days and which is to highlight are for example cryptocurrencies like protocol 0x originated by the entrance of this platform to coinbase, the same is happening with stelar that is also having an upward trend because it is expected that is the next in the list to enter the platform of coinbase, that made everyone start moving by these types of transfers or speculative movements, could also happen with cryptocurrencies or tokens such as bat to enter a coinbase obviously, they would be able to obtain profits in the short term from their holders.
As for the bitcoin this last week had a fall that went from 6,600 or so to approximately 6,250 dollars, and then move to a recovery, this is indicating a very clear resistance in the $ 6,800 approximately, since the middle of the September bitcoin will be moved in those bands from 6,200 to 6,800 a move if you want flat and that is due to two reasons, the first is because there is not much institutional interest at the moment in investing in cryptocurrencies when the stock market Traditional is showing very attractive prices with recent falls, capturing much more of these large investors who see in the stock market a much safer investment.
The second is because many crypto investors are currently focused on investing in the futures of for example bitcoin in bitmex platforms and that is why the volume of platforms such as bitfinex or binance have been falling recently or have remained very static, so unless there is an unexpected movement of manipulation the market volume I think will continue to be maintained at this level.
In these moments of bearish trend the best thing that you can do as a retail investor is to have the majority of your portfolio in bitcoin and not be risking the capital in cryptocurrencies with very small markets, at least the bitcoin at the moment is not falling anymore and even is showing more stability than for example traditional stock market indices such as the standart and pool 500, there is a fear in the market as banks are raising interest rates to compensate for the risk they are perceiving that may exist when they are putting More money in the economy these days, it is clear that we are approaching a global recession.
Now contrary to what happened in the past when traditional markets usually fell, this made bitcoin jump, now it seems that this money is moving to commodities such as gold that had an increase during the month of October, also happens the same with silver and oil, that's why it's good that we go preparing with our own research to better take advantage of all this movement generated by all economic crises, surely currencies like bitcoin will begin to play a leading role of adoption that is what we all want because the more they adopt it, the higher the value of the cryptocurrency.
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