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Governors who are members of the ruling All Progressives Congress (APC) have expressed confidence in the ability of the president-elect, Bola Ahmed Tinubu, to turn around the fortunes of Nigeria.
In the first half of 2020, COVID did a real number on the economy resulting in markets completely being shut down due to the pandemic. The world economy was disrupted due to critical logistical problems which resulted in delays from manufacturers and distributors essentially disrupting the supply chain. The supply chain was affected which resulted in an unseen failure to meet market demands.
In Late 2020, due to the fallout from COVID and the delays caused by the disruption of the supply chain. Technology industries were impacted with the noticeable companies being AMD and NVIDIA; both of which are Graphic Card Manufacturers. This affected stock availability for Sony’s PlayStation 5 and Microsoft Xbox Series X which both relied on processors from AMD. In addition to gaming consoles, graphic cards were also hard to find due to the shortage and cryptocurrency.
A surge was generated which caused major institutions and organizations to invest in crypto such as Tesla, MicroStrategy, and Square. This resulted in the highest-ever valuation of Bitcoin (BTC) at $65,000 in November 2021. The high valuation and the fact that one could mine these now valuable coins by using a GPU resulted in scalpers adding to the shortage and further driving up the prices of GPUs and crypto.
The Crypto Winter Of 2022
FinTech Magazine defines crypto winter as “a prolonged bear market in the cryptocurrency industry, characterized by a significant decrease in the prices of cryptocurrencies and a reduction in market capitalization.” The last crypto winter lasted almost three years from January 2018 to December 2020. Bitcoin has seen better days and is currently being traded at a valuation of $27,824. It has already seen an increase of $7,000 over its previous valuation in early 2023.
Analysts have predicted a bullish market due to the global recession that we find ourselves in, which is a direct result of the domino reaction from the COVID pandemic. The lovely thing about crypto is that it doesn’t follow your typical insight of the stock market which has been predicted to be bullish. Instead, crypto surprised everyone by performing a complete 180. Bitcoin is expected to cross the $28,000 valuation and is on the up along with other altcoins and tokens.
What to Invest In
Most if not all investors will tell you that the only crypto worth investing in are blue-hip options such as Bitcoin and Ethereum. However, those that have invested in altcoins such as Dogecoin will tell you that there are still profits to be made. The most profitable of all cryptos will be the most volatile which means that pre-sale options are the only options. You want to be careful when deciding where to earn your hard-earned money as you do not want to get caught in a pump-and-dump scenario. As with all investments you should only invest the money you are willing to lose if things do not work out.
The ideal scenario involves purchasing a new token that has yet to be released which is in its pre-sale phase. The coin or token that you’re considering should have a large community following to support, such as Big Eyes Coin. Currently, the coin is in its 12th stage of pre-sales with another three stages remaining with a large community following and has managed to raise over $32 million. The company’s original community milestone was to establish 15,000 users on Telegram, however, it has amassed 26,168 members. The most surprising thing is the level of customer support that is visible on Twitter where any issues faced during the purchasing or redemption of coins are addressed promptly which some Fortune 500 companies are unable to manage. Many who have participated in the pre-sale are keen to hold onto their coins once BIG goes live.
The Pump-And-Dump Of TAMADOGE
The last thing you want to do is find yourself in a pump-and-dump scenario that many investors of Tamadoge found themselves in. Tamadoge had a presale price of $0.01 and when it went live was valued at $0.02 with a total of $10 million in presale. Within a week of the currency going live, investors saw the value increase to $0.16 which led to most of the coins being sold for a profit. The altcoin still has the potential to do well, however at this time it is valued at $0.01 and has the possibility to reach the $1 mark by 2025. Unfortunately, Tamadoge did not have the community backing that Big Eyes Coin does and therefore suffered devaluation due to pump-and-dump. Had the coin had a large community following, then its value would have risen and retained its levels.
Find Big Eyes’ Details Here:
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