Co-founder of the ENCRY Foundation Roman Nekrasov spoke about profitable trading strategies for the medium and long term. The crypto market has switched to a bearish trend in the short term over the horizon of a couple of weeks. Bitcoin failed to gain a foothold above $30,000, and other crypto assets followed the lead of the largest cryptocurrency to decline. Now the optimal strategy would be to wait for optimal conditions to increase positions in the selected digital assets. The overall picture remains broadly positive and we can expect an upward trend in the medium to long term. Buying Bitcoin should be considered if its Bitcoin rate drops below $26.5 thousand. The price of the first cryptocurrency in the coming week may show high volatility ahead of the Fed meeting on the key rate. I consider $25.5-26 thousand a comfortable level for increasing positions in BTC. A similar approach applies to Ethereum or BNB. Both cryptocurrencies performed well in the bullish trend in previous weeks, and now, as expected, a rollback has begun in the medium term. This means that it is not worth entering these assets now; it is more effective to wait and buy when their rates reach the support level of $1,700 and $300, respectively. In the medium term, over the horizon of several months, all of the mentioned cryptocurrencies will most likely show growth, and the main wave of the bullish cycle will start in the second half of the year in anticipation of the Bitcoin halving in the spring of 2024. Halving is a twofold reduction in the reward of miners for a found block in the Bitcoin blockchain, embedded in the code. On May 11, 2020, the network reward decreased to 6.25 BTC. The next reduction to 3.125 BTC is expected in April-May 2024. In addition to the cryptocurrencies mentioned, it is worth watching the movement of cryptocurrencies from Layer-2 networks such as Cosmos (ATOM) and Arbitrum (ARB). The Cosmos interoperability ecosystem continues to successfully fill with liquidity, and interest in the products of this ecosystem is clearly growing. The potential of ATOM (cryptocurrency of the Cosmos blockchain) suggests that there is a possibility of growth of 3-5 times until the end of 2023. As for Arbitrum, this is an asset that can now be considered for purchase. The price of the coin already takes into account the negative effect of scandals related to blockchain management. At the same time, the total locked value in Arbitrum smart contracts continues to grow, and this is a good sign for long-term investors.
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How to make money on cryptocurrencies BTC, ETH, BNB, ARB, ATOM. Strategies from a professional analyst.