The Hash Ribbons indicator has flashed, historically identifying some of the best price levels for long-term positions on Bitcoin. It recognises when miners are capitulating due to being unprofitable, driven by low valuations of Bitcoin. When miners struggle financially, they turn off their rigs, which often coincide with macro bottoms.
Why Is This Important?
Miners are struggling means the macro bottom is fast approaching. The price of Bitcoin dictates the market’s overall direction, and this buy signal means digital assets are at their best entry point. All with depressed valuations ready to soar within the coming months. A new value-backed currency Uniglo (GLO), shows solid fundamentals and is on track to outperform giants such as Monero (XMR), Stellar (XLM), and Bitcoin Cash (BCH).
Uniglo is an Ethereum-based social currency. The protocol leverages the programmability of blockchain and fundamental economic principles like scarcity and value backing to introduce an organic floating store of value. Inflation has shown how rapidly the true purchasing power of fiat is eroded, and the recent market volatility within digital assets has left investors stuck.
GLO is intrinsically backed by the Uniglo Vault, by employing buy and sell taxes, the Uniglo treasury purchases a broad range of assets; these give GLO a natural floor price and increase in value alongside general economic growth. Asset ownership is one of the best-proven methods for preserving wealth. Uniglo also allows ordinary investors access to high-end tangible items such as fine art and gold, offering a much-needed alternative store of value in the current climate.
Monero launched in 2014 and is a cryptocurrency designed solely around privacy. It allows market participants to make anonymous transactions and obscures senders and receivers through cryptography. The recent arrest of the Tornado Cash developer has enflamed privacy concerns. With increasingly centralized exchanges mandating KYC (Know Your Customer), the desire for privacy-focused cryptos is rapidly expanding.
Stellar facilitates global transfers of value. Blockchain technology has made it possible to send value anywhere in the world within minutes, compared to the cumbersome legacy systems of TradFi, where international transfers take days.
Stellar is the global payments system of tomorrow, and XLM is the native currency. XLM acts as the intermediary asset for all transfers and allows thousands of transactions to be made for less than a fraction of a cent.
Bitcoin Cash (BCH)
Bitcoin Cash is a hard fork from the Bitcoin Network that increased the block size allowing the network to become more scalable. Bitcoin offers a fantastic store of value but is a poor option for daily transactions. Bitcoin Cash is the alternative peer-to-peer electronic system ideally suited for smaller everyday transactions that allow the trustless transfer of value between two parties without the need for a centralized intermediary. With growing adoption, the need for decentralized and rapid payment systems increases, making Bitcoin Cash a solid option for investors.
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Join Presale: https://presale.uniglo.io/register
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