U.S. President Joe Biden unveiled a $6.8 trillion government spending plan for 2024 and called for dozens of new policy initiatives and higher taxes on wealthy individuals and corporations.
The Federal Reserve also raised interest rates again in direct response to the high level of inflation.
While the higher interest rates can assist with the soaring prices, they can also increase the cost of borrowing, making everyday products much more expensive, such as mortgages, personal loans, or even credit cards. Cryptocurrencies such as Ripple (XRP) and Dogecoin (DOGE) also decreased in value.
At times such as these, smart investors will diversify their portfolios and invest in alternative cryptocurrencies, one notable example being the TMS Network (TMSN) token.
Ripple (XRP)
The Ripple (XRP) cryptocurrency, as of March 13, 2023, is trading at a value of $0.378683.
The all-time high of the Ripple (XRP) coin was on January 7, 2018, when it reached $3.40 in value. This indicates that Ripple (XRP) is trading 88.98% lower than its all-time high value. While the Ripple (XRP) cryptocurrency has recovered some of its value in the last seven days, it is still in the red zone regarding its performance.
Investors and traders who are afraid of the future behind the Ripple (XRP) will typically look at alternative cryptocurrencies to invest in, such as Dogecoin (DOGE) and TMS Network (TMSN).
Dogecoin (DOGE)
When we review the performance of the Dogecoin (DOGE) cryptocurrency, we can see that it is trading at a value of $0.073755 on March 13, 2023. The all-time high of Dogecoin (DOGE) was on May 8, 2021, at a value of $0.731578, indicating that as of March 13, 2023, it’s trading 90.09% lower in value.
Alongside that performance, in the last seven days, the Dogecoin (DOGE) cryptocurrency decreased in value by 6.22%.
Based on all of this, it is clear that the Dogecoin (DOGE) cryptocurrency is showcasing a bearish outlook. Investors aiming to diversify will look at alternative cryptocurrencies that will hedge against these financial losses, such as TMS Network (TMSN).
TMS Network (TMSN)
TMS Network (TMSN) as a network aims to revolutionize the traditional financial space alongside the Web3 space by providing the first-ever decentralized platform that will give any trader a high level of freedom in their decision-making process.
On the TMS Network (TMSN) platform, anyone can directly buy or trade any derivative, including equities, stock, CFDs, and other options, with cryptocurrency payments.
Users can connect their cryptocurrency wallet and begin trading on TMS Network (TMSN) without creating an account.
Warren Buffet, the CEO of Berkshire Hathaway, once said, “Only when the tide goes out do you discover who’s been swimming naked.” The statement implies that smart investors will buy when everyone is selling and sell when everyone is buying.
TMS Network (TMSN)users will get access to a copy trader feature and support for MT4 and MT5, alongside other functionalities.
Powering the TMS Network platform is the TMSN token, which completed Stage 1 of its presale. Anyone holding TMS Network (TMSN) can vote on governance proposals and even earn a commission for every trade made on the platform.
Stage 2 has already seen 50% completion, and the TMSN token is offered at $0.032. Analysts predict that the TMS Network (TMSN) cryptocurrency will reach $2.25 by the end of Q4, 2023, indicating that the token can act as a hedge in times like these when the markets are falling.
- Presale: https://presale.tmsnetwork.io
- Website: https://tmsnetwork.io
- Telegram: https://t.me/tmsnetworkio
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