The weakening of the US dollar continues to be a concern for many, with the US Dollar Index sliding to a seven-month low after reaching a 20-year high in September 2022. The dollar’s entire second-half rise in 2022 has now been erased, as markets position themselves in expectation of US Federal Reserve action and its direction on interest rate policies.
In the midst of this economic uncertainty, one sector that could potentially benefit from a weaker US dollar is the cryptocurrency market. According to Bill Noble, Chief Technical Analyst at Token Metrics, “a weak dollar is a dream scenario for crypto.”
He explains that bitcoin and other cryptocurrencies “are a legitimate component of the foreign exchange market, and it’s like any other currency. It rises as the dollar falls.”
Meanwhile, economic data came in today that the U.S. economy grew at 2.9% in Q4 of 2022, which was slightly ahead of the 2.8% expectation.
While the recent economic growth data suggests that a recession may not be imminent, most experts are forecasting a recession to occur at some point in 2023. As such, it’s important for investors to consider steps they can take to protect their investments against further stock market volatility.
Noble, for one, is convinced that the US citizens will soon be driven to using Bitcoin as a secure place for their savings, just like those in countries such as Turkey, Iran, Venezuela and numerous others who have turned to it during times of hyperinflation or other economic hardships.
Despite Bitcoin’s current preeminence in the crypto economy, a wealth of other projects are pioneering advanced technologies like DeFi and NFTs. This provides traders with many potential investment opportunities as they seek to capitalize on these real-world use cases to diversify their portfolios.
If you’re looking for promising investments in the space, presales of upcoming cryptocurrencies may be a solution. Through smart strategizing and strategic investments, you can see impressive returns on your investment if you carefully invest in the right projects.
Some current cryptos to consider that have solid teams, investor interest, and high potential for growth include MEMAG, FGHT, CCHG, RIA and TARO.
Meta Masters Guild (MEMAG) to Master Web3 Game Equality
Ready to shake up the mobile gaming industry, Meta Masters Guild (MMG) is introducing an intriguing Web3 gaming guild driven by blockchain technology and an autonomous community. By designing a dependable ecosystem that encourages high-level play, they aim to solve some of today’s common game issues.
MEMAG cryptocurrency rewards players for their effort, granting them true ownership of in-game assets. Furthermore, the open game economy allows participants to exchange items or currency with each other and redeem “Gems” for real money or virtual products within the game. This way, they are free to barter as they please.
MMG is staunchly dedicated to creating an equitable and transparent gaming ecosystem for all players, guaranteeing honest gameplay that remains free of any exploitation. To launch their game lineup, they are offering up Meta Kart Racers–a single-player or PVP race game available on mobile devices.
Crypto investors are swiftly scooping up MEMAG tokens in the presale period and have already generated over $1.4 million within weeks.
Visit Meta Masters Guild Now
Fight Out (FGHT) Fit for Growth
Investors are paying close attention to the upcoming Fight Out (FGHT) app and gym chain that is ready to revolutionize the fitness industry. Through their move-to-earn (M2E) program, users can receive REPS tokens for achieving physical goals–with a team of professionals authenticated by CoinSniper.
Fight Out will be launching innovative gyms with features such as “mirror profiles” and sensors that provide instant feedback during workouts. This ground-breaking concept has attracted an impressive list of ambassadors, including UFC champions Amanda Ribas, Taila Santos, and former WBO middleweight champion Savannah Marshall!.
