Market Analysis

in #cryptocurrencylast year (edited)

This is just a fun exercise, not an investment opportunity. Don't use your real money. Cryptocurrencies can be risky, especially for those with gambling issues. Instead, focus on learning about risk management. We're going to analyze data, not make real investments. Think of it as "paper trading" or keeping a watchlist to learn before risking your money. This way, you'll be better prepared when you decide to invest.

If you are trading or investing, the most important asset is usually the US dollar because it's a global reserve currency. Never trust a journalist, because despite what these moron FUD spreaders say, the US dollar is still very much the global reserve currency. If you are American, everything is priced in the dollar, which makes saving in this powerful and precious currency undesireable because if you are a spender by habit, the entire market is designed to remove value from your savings account. However, this is one of those times when you may want to save in the US dollar itself. If the dollar is strong, it can harm your investments in stocks and cryptocurrencies. Right now, low trading activity, low volume, is due to the strong dollar.

President Biden raised interest rates, a lot, to prop up the dollar, but this caused severe American poverty. Just the other day some lady came to my home begging for food, and I explained to her that I'm not a grocery store, and frankly I don't keep much food in my home because I don't have the room. I share a refrigerator with four other people. So Biden is way beyond the pale, so far, that American women are living in malnutrition and squalor. Biden is deliberately trying to rattle you out of your positions, even your homes, and into "his" dollar. However, holding some, even mostly, US dollars can help diversify and protect your investments. Don't believe in "diworsification." Believing a headless Bitcoin can rival the Federal Reserve is foolish, irrespective of political beliefs. For all we know, Satoshi Nakamoto was not an economic, nor even a financial expert. The US dollar is a fantastic way to manage risks in your investments.

For American investors, the best options often lie within the top 100 assets or those on platforms like Kraken and Coinbase. Given the uncertain economic impact of children returning to school and concerns about COVID, it's wise to hold onto the US dollar for now. The current economic challenges may continue, so sticking with larger, established assets is a safer approach. When your family needs you to fork over the money, they are going to likely want it in the US dollar. Let's face it. You don't want to be converting back and forth frequently because the fees and taxes will severely ruin your position.

Please keep this in mind.

CSPR seems to have regained a previous price level. Will it hold? It is a layer 1. Are there any projects on it?

"Metis
Metis is an L2 project that focuses on the creation of Decentralized Autonomous Companies (DACs). Troubled by the high fees of Ethereum, it has decided to move to Casper. " ~ Coin Gecko

MKR's price is improving and rallies tend to last longer. I wouldn't use DAI as a stable coin, so I wouldn't hold MKR but trade it. Tether is a good stable coin because it has low fees compared to USDC. Ethereum's high fees are a drawback for MKR. Tron can be a stable choice during tough times. RWA (real-world assets) is a trending category on Coin Gecko, and MKR is part of it. You can check it here:

https://www.coingecko.com/en/categories
https://www.coingecko.com/en/categories/real-world-assets-rwa

Litecoin is gaining currently. It's advantages are subjective. It is highly risky because it has a lower market cap than Bitcoin, rendering it riskier than Bitcoin. As an investment, it is a dangerous option, however, for trend and swing trades it has worked for me in the past. If you are good at technical analysis, it's worth studying Litecoin. It has many detractors, but they lost money on it.

https://www.coingecko.com/en/coins/litecoin

https://www.cnbc.com/2022/06/15/bill-gates-says-crypto-and-nfts-are-based-on-greater-fool-theory.html