TruBit Crypto Weekly Digest (08/29-09/05)
Welcome to this week's digest from TruBit, covering August 29th to September 5th, 2023! We delve into the most significant happenings in the crypto world and offer our unique insights. We aim to keep you at the cutting edge of the crypto universe with the most up-to-date information. Stay tuned, and let's navigate the crypto world together.
📈 Last Week's Trending Tokens to Watch(08/29 -09/05)
1. CYBER/USDT 7D Change (+264.96%) 2. UNFI/USDT 7D Change (+53.51%) 3. TON/USDT 7D Change (+37.03%) 4. MKR/USDT 7D Change (+9.7%)
💡Coin Insights (08/29 -09/05)
- Bitcoin (BTC): Bitcoin's value generally increases but might drop slightly for a few weeks. By around September or October, we expect it to rise again. It's a good idea to consider Bitcoin as a long-term investment.
- U.S. 10-Year Treasury: Its peak value is already behind and starting to decrease. When it goes down, capital markets usually benefit. This might be a factor to consider when diversifying investments.
- Stock Markets (Dow Jones & Nasdaq): Both are doing well but saw rapid growth in June and July. They might pause or decrease soon. It's essential to be cautious and not expect significant movements in the next few weeks. Their changes won't have a substantial effect on the cryptocurrency market.
- Interest Rates: The U.S. Federal Reserve (The Fed) might lower interest rates next year. This can be good for many investments. It's a good idea to watch their September decision closely.
- Bitcoin Strategy:
- Bitcoin has been performing as expected, maintaining above the 25,000 mark. It may face a small dip for some weeks, but the general outlook remains positive.
- Consider buying Bitcoin and Ethereum little by little. Try to purchase half of your intended amount when prices are between 25,000 and 26,000 or before October is over. If prices drop near 24,000 for news or other reasons, it might be a good time to buy more.
- Holding Strategy: If you've already invested, consider keeping your position and waiting for an excellent chance to buy more, based on market changes.
- Swing Trade:
- Following a market decline, the recommended strategy is to maintain your investment at 52% of its total capacity. Should prices surge by 3%, consider selling a part of it. Conversely, if prices dip, contemplate acquiring more. The objective is to raise your investment to 70% within the ensuing three weeks.
🔥 The Hot News in Crypto Market You Need To Know (08/29 -09/05)
- Grayscale, a company that manages investments, got approval from a US court to create a product that follows Bitcoin's value. This is a big win against US officials.
- Bloomberg analysts have raised the probability of an approved spot Bitcoin exchange-traded fund (ETF) by the end of 2023, following a recent Grayscale victory against the federal securities regulator.
- Bitcoin adoption in Argentina is surging. As Argentina grapples with soaring inflation, its citizens increasingly turn to Bitcoin, driven by economic challenges and political shifts.
- Worldcoin project says that 9,500 people in Argentina have used their platform. This shows that it's very popular crypto project in Argentina. TruBit Pro is staying ahead of the curve! We've listed WLD/USDT, catering to our passionate LATAM users.
🌟 What to Expect
- 09/19 The FOMC Meeting
- Following the July policy statement, Chairman Powell of the Federal Reserve hinted at the possibility of further interest rate increases after their September meeting.
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