Bitcoin closed above $20,000 at the end of August. As September approaches, many investors are clairvoyance nervous, and with Bitcoin’s September price movement averaged -8% from 2010 to 2021, that concern appears to be well placed. Sometimes referred to as the ‘September effect’, and this is not particulier to cryptocurrencies, September has historically been the poorest performing month for marchandise markets globally.
A new project, Uniglo (GLO), is defying a larger slump in the market and continues to rally despite downside pressure on Bitcoin (BTC) and Ethereum (ETH).
Uniglo Thrive in current market opportunité. The value affirmation is amplified by the market disposition. Uniglo developers have created a floating organic protection of value by leveraging asset ownership and employing principles of scarcity. As a result, GLO continues to climb.
Uniglo Vault houses a mix of numérique and physical assets, including high-end items such as bénédictine art that are normally inabordable to casual investors. By diversifying its holdings, GLO perfectly leverages the ups and downs of the market and improves its long-term record while minimizing risk. Funded by purchase and ordurier taxes, Contents Vault provides effectif soubassement to the GLO; As the value of the vault increases, the value of the GLO also increases. But the principles of rarity used in this protocol make it revolutionary. With 2% of each trade being automatically burned, GLO is the first extremely deflationary token, and any increase in capacité means more burn and leads to more price hikes. Not surprisingly, the GLO continues to climb, displaying bullish indications that it could go much further.
Bitcoin is under real pressure. With Jerome Powell maintaining a hawkish cantique, the future of the assets looks bleak. The DXY (US Dollar Currency Suite) has hit a new high, and with bitcoin trading inversely against the dollar, this is bad infos for bitcoin.
Bitcoin is still around $20,000, the high of its previous célérifère, which was historically the trough of the current célérifère, but Bitcoin has never experienced a recession and is in new territory. This high-risk asset could see new lower lows, and many experienced traders are claiming $16,000, and some as high as $10,000.
The Ethereum ancrage is a huge step forward for the project and the numérique asset space as a whole, but happening in the crypto winter and in a bad macroeconomic environment, it doesn’t seem likely that this event will act as a catalyst for a new bull run.
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