Bitcoin has just bounced off its lowest weekly RSI print in modern history. However, that doesn’t mean the crypto market can’t still go lower. Even if crypto prices do fall farther down the hole, there are ways to play in a bear market without getting eaten alive.
One way to all but ensure that you’ll make profits in the long run is to invest in a promising Layer 1 blockchain that has lost more than 90% of its value. See, the thing is, the more risky crypto assets generally see a bottom before the higher volume assets such as Bitcoin. Although crypto prices might fall a bit farther from here, coins such as AVAX, the native token of the Avalanche blockchain could offer a huge upside. If AVAX could reach its previous high — not even its all-time high — it could produce a 5X return in this upcoming cycle.
However, keep in mind that if you put all of your nest eggs into one basket, you’re essentially gambling. So you might want to spread your investment across several Layer 1 altcoins.
Another way to ensure that you make money in this bear market is with Dogecoin. Yes, DOGE. Here’s how you do that. You create a google search notification for the keywords “elon musk doge.” Meanwhile, you watch the charts for trends and patterns that suggest big upturns or downturns. Then you take either a long or short position on the token. And then when the charts suggest a reversal, close your position and open an opposite position.
Essentially, we’re talking about day trading. But here’s the thing. Probably 99% of amateur day traders lose money during a bear market. Consider that and the time it takes to educate yourself on day trading and then the time it takes to hover over charts all day. You’d be better off investing in an asset that offers diversification and passive income while you go make money doing what you do best, whatever that is.
On a side note, another problem with DOGE is that its supply keeps going up eternally. If you’re not a pro day trader or swing trader, then this is not a great long-term investment. You’re better off investing into a token that is designed to have an eternally deflationary supply instead of an eternally inflating supply.
Gnox Token is Both Deflationary and Diversified
In contrast to inflationary and risky crypto assets such as DOGE and AVAX, you can tap into a DeFi token that is both deflationary and that offers diversification. It’s called Gnox Token (GNOX). Not only is GNOX designed to increase in value in both bull and bear markets, but it also rewards holders with ongoing passive income.
Gnox makes crypto investing super simple. All investors have to do is buy and hold the token. A 10% royalty on token sales is used to continually grow a common treasury. The treasury is used to invest in a diversified basket of passive income opportunities across several platforms and blockchains thus spreading the risk. Then the profits from those investments are used to buy back and burn GNOX tokens thus constantly reducing the supply.
All investments are handled by a professional team of DeFi analysts. Gnox has developed a tool that aggregates data on passive income opportunities from across the cryptoverse. Holders have the opportunity to vote on which opportunities are worthy of investment.
The Gnox Platform is scheduled to launch in mid-August. Right now, the project is in ICO mode and offering various incentives to get in early such as monthly token burns. Also, all unsold tokens will be burned upon launch assuring a fair distribution. Pre-sale ends on August 12th, 2022.
Learn more about Gnox:
Join Presale: https://presale.gnox.io/register
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