Uniglo.io Price Rockets Again As Bitcoin And Ethereum Begin To Bottom

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Charlie Munger, a famed value investor, has stated on record multiple times that the dollar will go to zero. And this is not an outlandish claim; look at how quickly the actual purchasing power of the dollar has declined in the last year. Investors must buy assets if they want to preserve their wealth, and the best assets to buy are digital, the next evolution of money.

Capital moves around amongst cryptocurrencies and towards projects that investors favor to perform best. An Ethereum-based token, Uniglo (GLO), has rocketed 55% as Bitcoin (BTC) and Ethereum (ETH) begin their respective bottoming processes.

Uniglo (GLO)

Uniglo represents DeFi’s first hyper-deflationary token, with 2% of every transaction automatically sent to a burn wallet with an unknown private key known as the Uni Abyss. This means that GLO’s price will steadily appreciate; fundamental laws of supply and demand dictate that reduced supply means increased price.

But the most exciting part of this social currency is its asset acquisition. Uniglo holds a collection of digital and physical assets in its Vault, giving GLO a value-backed price and allowing the overall value of the Vault to grow in times of economic prosperity. The Vault holds a unique mixture of assets, allowing it to outperform the market. This is partly due to the NFTs stored in the Vault, which represent high-end physical goods such as fine art and real estate, typically more resistant and less affected by market behavior.

Bitcoin (BTC)

Bitcoin has coupled with traditional markets and performs the same as the S&P 500 and the Dow Jones Industrial Average. If stocks have a bad day, Bitcoin has a bad day. With Jerome Powell and the FED continuing to raise interest rates to tackle inflation, asset prices will continue to fall. Ray Dalio predicted raising the federal funds rate to 4.5% could see another 30% drop in the stock market. With the FED remaining hawkish, the immediate future looks rocky for Bitcoin, but it remains a great long-term buy.

Ethereum (ETH)

Ethereum completed the merge. As expected, it was a buy the rumor sell the news event, traders sold off ETH, and miners with no further source of revenue dumped ETH on the open market. The bad news for ETH is not over yet. It will likely see new lows as interest rates increase. Similarly to BTC, ETH remains a great long-term play.

Conclusion

A famous saying amongst traders: ‘Never try to catch a falling knife.’ And this applies to the current scenario. Investors should wait for the bottoming process to finish before investing. Buying in an uptrend remains the key to successful investing, and Uniglo offers a prime opportunity.

Find Out More Here

Join Presale: https://presale.uniglo.io/register

Website: https://uniglo.io

Telegram: https://t.me/GloFoundation

Discord: https://discord.gg/a38KRnjQvW

Twitter: https://twitter.com/GloFoundation1


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