Good News!!! Bitcoin, earlier today, bounced off from 47 thousand back to 49 thousand dollars. The market has been extremely volatile lately.
Things are looking better, and it looks like the market is recovering from the correction it experienced last week. Bitcoin dropped to 47,000 dollars, quickly bounced off to 49,000, but now it is about 53,000 dollars. Ethereum is looking good as it has been for a while; it went up by 5% and is currently at 2,460 dollars. We also have some altcoins on the top 100 that are looking great as well; Uniswap is up by about 17% on the seven-day column at 35 dollars. Uniswap version 3 is coming out in May, so there is a probability that people are investing and buying it in anticipation.
Solana is on the move and is up by 50% on the seven-day column. Many people are very bullish on it entering the top 10 very soon, and it is a major Ethereum competitor.
PancakeSwap just broke all-time highs; the crypto is very bullish to the extent that even in this market dip, it did not go down, especially if you compare it to other coins of its kind. There is a very high possibility that it will skyrocket, especially once the market recovers in full. PancakeSwap has a version two coming soon, and they also just voted in an increased burn rate for the cake token, so there are hopes of seeing the crypto skyrocketing soon. This means that the more transaction volume on the pancake swap, the more cake tokens will be burned.
PancakeSwap transaction volume has been exploding with the increased popularity of the Binance Smart chain. PancakeSwap being the biggest finance smart chain swap and having the support of Binance, has greatly contributed to its price surge. There are great staking and yield farming opportunities on the cake token and also high payouts.
Buying into PancakeSwap at this point time is very risky because it is at an all-time high, and when the token starts to correct itself, you will lose a lot of money. Setting up staking on PancakeSwap is a very good passive income opportunity.
Uniswap, on the other hand, has had a bumpy ride for the past couple of weeks, but it is looking like it will be breaking out leading up to the Uniswap version 3, which will be out in early May.
The markets will be recovering overall, but this volatility can continue.
Ethereum is one cryptocurrency to watch this week, and some interesting events are coming up as well. Hollywood Elites will be receiving NFTs in recognition of the upcoming awards ceremony. This is very interesting because NFTs are getting put on the map, and this is also bringing a lot of people into the crypto space, and NFTs are blowing up. It may not be a bubble, the way many people are saying, NFTs being created by musicians and celebrities will continue going up in value compared to those that do not have any value.
