A top Bloomberg markets analyst has issued a bearish warning for Bitcoin (BTC) for the year’s second half. The analyst believes that with the Federal Reserve all set to keep raising interest rates, risky assets such as Bitcoin (BTC) and Ethereum (ETH) will take a hit. With Bitcoin (BTC) losing the $27k mark, there is a high chance for bears to take control.
Interestingly, even with such bearish projections flying around, investors are looking at crypto presales as the next big thing. As investors seek out the next big thing in crypto, Sparklo has caught the eye of many, and FOMO is building up.
Sparklo (SPRK) gains momentum as stage 2 presale hits up
Sparklo’s presale continues to attract investors in droves and for a good reason. Sparklo wants to transform how people invest in gold, silver, platinum, and other precious metals. Sparklo wants to do this by turning precious metals into NFTs, allowing investors to buy in tiny fractions. Those with the resources to buy a whole NFT can take physical ownership of the precious metals they purchase and even trade them in the P2P without the extra costs of using third-party dealers.
Sparklo also has some of the best security features in the market, which is also drawing in investors. Sparklo has a 100-year liquidity lockup, a feature designed to ensure the founders don’t pull a rug pull. In a market where hacks are common, the Sparklo smart contract is quite safe after being audited by InterFi Network and given a clean bill of health.
However, the biggest attraction to Sparklo is the ongoing stage 2 presale bonus offer. At the moment, Sparklo is going for $0.036, and those who buy now enjoy a 50% bonus on tokens.
Bitcoin (BTC) bearish as it loses $27k support
Bitcoin (BTC) looks bearish after losing the $27k support. This bearish signal for Bitcoin (BTC) is in tandem with what some analysts believe could be a bearish second half of the year. With speculation rife that the Federal Reserve could hike rates further, the odds are that Bitcoin (BTC)’s price could be headed for more downside.
Bitcoin (BTC) ‘s potential downside increases because investors increasingly focus on small-cap cryptos. These cryptos have proven to give a high ROI in recent months, regardless of the market direction. Sparklo is one of those increasingly taking the shine away from Bitcoin (BTC).
Ethereum (ETH) loses upside momentum as broader market stagnates
Ethereum (ETH) is the market’s number one smart contracts platform. However, like other top cryptos, Ethereum (ETH) tends to trade in the overall direction of Bitcoin (BTC). This means sellers could take control of Ethereum (ETH) in the short term. This is already evident in the price, with Ethereum (ETH) currently in the red after Bitcoin (BTC) started the week bearish.
Ethereum (ETH) ‘s potential downside is added because rising transaction costs drive investors and developers toward competitors such as Cardano. With a combination of these factors and crypto presales drawing the attention of investors, it’s not hard to see why upcoming cryptos like Sparklo are taking the shine away from Ethereum (ETH).
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Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosure here.