Crypto Analysts’ Picks for September: Uniglo, Bitcoin and Ethereum
Crypto analysts have been busy in September making their choices for investments. Uniglo has been a favourite, many see it as a good long-term investment. Bitcoin and Ethereum have also been popular choices, and many see them as good short-term investments. Here’s a look at why these three assets have been picked by analysts this month.
Uniglo (GLO)
People usually invest in things that will retain their value or increase in value during economic downturns. Uniglo, a type of cryptocurrency, is a great illustration of that.
Uniglo, a brand new social currency, has a ton of cutting-edge features that will help it evolve into a hyper-deflationary, recession-proof cryptocurrency. The floor price of GLO, the original token, is maintained by the Uniglo Vault, which houses purchases made by the Treasury.
The assets to be purchased for the vault will be decided by the treasury fund, which will also hold the stablecoin to stave off volatility and is funded by purchase and sales taxes. Long-term price appreciation and a pool of priceless physical assets that have historically made efficient wealth storage vehicles will benefit large-cap cryptos.
Bitcoin (BTC)
Bitcoin is a type of digital currency that does not require centralized organizations such as banks or governments. Instead, Bitcoin directly confirms user-to-user transactions over a peer-to-peer network.
In the latest edition of the trader’s Cryptocademy newsletter, Bennett identifies $24,200 as a crucial make-or-break level for Bitcoin (BTC).
“Bitcoin is struggling to close above the $24,200 area as I’ve mentioned for the past couple of weeks. It’s going to take a daily close above that to turn it around to support and reveal the $25,400 area.”
Ethereum (ETH)
The largest cryptocurrency in the market, Ethereum, is held at about $200 billion of the total market cap of $1 trillion of the more than 20,000 cryptoassets currently available.
Think of Ethereum as a distributed computer network where users can use the blockchain to run decentralized applications (dApps) and host smart contracts, unlike Bitcoin, which is referred to as a “decentralized currency.”
According to Walker Holmes, vice president of metaverse platform MetaTope, “BTC is a store of value while ETH is a decentralized playground for developers to define the future in the technological advancements of blockchain technology.”
Learn more here:
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