The market hasn’t been pretty over the past few weeks.
With the entire world economy suffering from inflation – resulting in rising interest rates – the cryptocurrency market underwent additional bearish pressure with the collapse of one of the biggest exchanges – FTX.
The entire cryptocurrency market collapsed as a result of the fallout from the FTX disaster. Bitcoin slipped to two-year lows, and over $200 billion was wiped out from the market overnight.
With the market on shaky ground, many are asking whether or not to buy Bitcoin – that’s the overarching question.
Nevertheless, even if you choose not to buy, investors still have options in these other projects.
Should you buy Bitcoin here?
Bitcoin sits beneath $17,000, resting at levels previously seen in December 2019.
The cryptocurrency lost crucial support in the first half of November after slipping beneath $18,000 and losing ground above the 200-weekly moving average for the first time in history.
This puts the industry in a tricky position as investors question whether it’s the right time to buy Bitcoin.
Some analysts suggest that the bottom is already in. Others suggest that the situation will get much worse before it gets better. Bitcoin protagonists like Peter Schiff are suggesting that cryptocurrency is finished.
This is not a #crypto winter. That implies spring is coming. This is also not a crypto ice age, as even that came to an end after a couple of million years. This is crypto extinction. But #blockchain will live on. #Gold will rise again to lead a new breed of asset-backed cryptos.
— Peter Schiff (@PeterSchiff) November 14, 2022
Whichever way you look at it, we must remember that the overall economy is in a terrible position – and it could worsen.
Inflation is rampant and out of control, causing central banks worldwide to increase interest rates in an effort to slow down consumption. Money is getting harder to come by – meaning there is less liquidity to pump into any market.
The S&P is down 18% from its highs, and the Dow Jones is down 10%.
Picking the right level to buy Bitcoin is impossible. The best option is always to employ a daily cost-averaging strategy that requires you to purchase small amounts of Bitcoin over a more extended period to average your cost.
Despite the negative outlook on Bitcoin, here are two other projects worth looking at during the crypto winter. One is a utility token for a highly anticipated crypto analytics platform, and the other is an NFT-based derivatives ecosystem that mirrors an industry that generates $11 billion annually.
Dash 2 Trade
Dash 2 Trade is a project undergoing a presale and is gaining considerable attention among investors. The D2T token will be a utility token for the Dash 2 Trade dashboard – a world-class crypto analytics and intelligence platform that will help traders take their profits to the next level.
The problem with the cryptocurrency industry is that it moves at lightning speed, and it’s often difficult to keep track of all the developments across dozens of sectors. The entire idea of Dash 2 Trade is to keep traders up to date with the latest essential information to allow traders to make the best decisions.
Dash 2 Trade will provide actionable crypto trading signals, predictions, and social analysis to help traders make more informed decisions. In addition, it will provide in-depth insights to help traders create and test market-beating strategies.
⭐️ MARKET BEATING STRATEGIES ⭐️
✅The #D2T analytics platform actively encourages independent trading strategies.
✅Users will be able to directly test whether their thinking and strategy will perform in the market.Check out our website to learn more⬇️https://t.co/ExvBBjLgJE pic.twitter.com/80fPMkbWbG
— Dash 2 Trade (@dash2_trade) November 15, 2022
The project is in the presale stage and has already managed to raise over $6 million in the short few weeks it’s been active;
People are flocking to the presale to park cash during the bear market, hoping to profit once the presale is complete and the token is listed on tier-1 exchanges.
Dash 2 Trade is stealing all the headlines because the team behind it has an extensive track record. The project is being created by the same team that birthed Learn 2 Trade – a top-rated FX education platform that attracted over 70,000 active users.
The same team has partnered with profitable crypto traders, quants, and AI developers to deliver a similar trading dashboard for crypto.
Dash 2 Trade is certainly something to keep on your radar, and it will be best to invest sooner rather than later because each stage of the presale sees increasing prices. By the time the presale is over, early investors will already be in profit when the token launches.
Silks
Another project worth looking into is Silks – an exciting P2E ecosystem that mirrors the $11 billion economy of thoroughbred horse racing. It’s the first sports derivatives-based play-to-earn metaverse that bridges the gap between the real world and crypto.
The ecosystem utilizes a plethora of NFTs to mirror the real-world economy. For example, the project has Silks Horses NFTs, which are derivatives of real-world racing horses. If you own the NFT of a horse that wins real-world races, you are rewarded in the Silks metaverse.
Users must purchase a Silks Genesis Avatar to participate in the ecosystem. The Silks Avatars represent the digital identity of the racehorse owners and allow you to start earning rewards in the metaverse. The first batch of Silks Avatars was released earlier in the year, and they quickly became one of the top-10 ranked Ethereum Sports NFTs on OpenSea. In addition, the Avatars were added to the Nansen.ai Gaming 50 Index – the most prestigious NFT index in the industry.
The Silks Avatars became so popular that Bored Ape Yacht Club NFT collectors – the most expensive NFT collection in the sector – started to purchase Silks Avatars to get a piece of the action;
Silks plan to open its doors to the metaverse in early 2023, and investors eagerly anticipate the launch. You can still purchase some of the remaining Silks Avatars for 0.25 ETH – but you will need to be quick because they are almost sold out.
