Proof of Prophecy: Uniswap (UNI) takes over Coinbase as #2 exchange trading ETH.
Earlier this year, I predicted that Uniswap (UNI), a decentralized crypto exchange, was one of my year-end picks. As a result of the FTX debacle, UNI has recently taken over COINBASE as the #2 exchange trading Ethereum (ETH). But, is it time to buy? (More below)...
Below: Altcoin Daily lists Uniswap as one of their top 5 altcoin picks.
As I write this, the FTX "hacker" that I talked about in my last post, is dumping Ethereum (ETH) on the market to the tune of millions of dollars at a pop. This has suppressed crypto prices, and many fear that Bitcoin (BTC) could dive down below $12,000 as a result. Once again, I don't believe that BTC will dump this low, but I do expect the first and second weeks of December to be somewhat sluggish for the market which is typical as investors cash out for tax purposes. However, the second half of the month looks strong, so look to snap up some bargains before Christmas!
With regards to UNI, I'll be looking to accumulate in the early part of December, and will hold into April 2023, if not longer. Likewise, many of the top coins should spring back nicely through next Spring. And, as a reminder, I expect June and August-November of next year to be pretty stellar months for crypto gains.
And, one final note about COINBASE which I mentioned in the header. The bankrupt FTX exchange is being accused by many of being a money-laundering machine. According to the Akashic Records, the amount of money-laundering and illegal activities on Coinbase far surpasses that of FTX's. Where there is large amounts of illegal activity taking place, exchanges run the risk of large amounts of hacking by foreign nations and insiders. So, beware.
Please note that the above is not intended to be financial advice! It is merely my own 'prediction' or opinion of the potential price movements in the crypto market, and should be taken as entertainment purposes only. Be sure that you never invest any money that you can't afford to lose, and apply sensible, dollar cost averaging techniques to minimize losses.