Yet another week has passed, and to be honest, we are happy that this article is published today and not yesterday. How come? Yesterday (February 22nd) was an extremely red day, especially due to the fact that the Russian President (Vladimir Putin) sent Russian forces into two areas in Ukraine proclaimed by Russia to be independent. Ethereum and Bitcoin are also struggling, and the rebase tokens struggle even more. Luckily, the market has recovered since yesterday, meaning that the prices of most tokens are up between 10%-20% since yesterday. But, that doesn’t change the great picture showing us that it has been a bad week.
Below you can see the value-performance of the different tokens in the last seven days. Can you imagine what this would look like if the article was written yesterday (when most of these tokens were worth 10%-20% less than they are today?!) It would have looked quite terrible.
The worst performing tokens are [REDACTED] and FantOhm. And then we shouldn’t forget that BTRFLY (the REDACTED token) is up almost 20% since yesterday. In other words, this could have looked much more ugly.
The FantOhm price drop doesn’t surprise us much considering that this is a protocol with an incredible APY and when the bear market comes upon us, people quickly take profit and since the inflation is so big, the price will drop quickly in such cases.
But, OlympusDAO has also had a tough week, and the same can be said about Wonderland which had a major drop yesterday. Today, however, it gained strength again and thus it succeeded in ending the last days in a plus.
Exodia was the best performing token in the last seven days with a 13% value increase.
But, even though Exodia increased 13% in value in the last seven days, it is still down more than 60% in value compared to our initial investment. And as you check the graph above, you can see that the best token at the moment is FortressDAO which is down “only” 46%. That is, however, a token in big despair and probably disappearing quite soon, so nobody should invest in FortressDAO right now (if you listen to us).
It is time to pay attention to the market
If you pay attention to the market and take risks, then swing traders can make a quick profit these days. But, there is also a danger of losses. If Russia should attack Ukraine, markets will suffer and the prices of Bitcoin, Ethereum, and all the rest will for sure drop 10%-30% in value in a very short time. Some might suffer even more.
But, such dips are also a great chance of getting quick profit, just like those being brave yesterday could sell tokens with 20% profits today.
In other words, stay alert… but be aware of the fact that swing-trading is a difficult skill to learn and it can easily turn into big losses.
What do you expect to happen in the coming seven days? We would love to hear your thoughts!
