What cryptocurrencies to buy in the long term

Our experts have analyzed the cryptocurrency market and named profitable assets for long term investments

Neither the stock market, much less the cryptocurrency market, can grow when liquidity is withdrawn from the system. As of this week, the U.S. Treasury Department has begun to withdraw liquidity. And the U.S. Federal Reserve (Fed) continues to clear the balance sheet as part of QT (quantitative tapering).

When the U.S. Treasury Department raises the public debt ceiling. Then the government can borrow more money in the financial markets to cover its spending. As a result, the volume of government bonds increases. And other debt instruments issued by the Treasury Department.

The U.S. Federal Reserve (Fed) clears its balance sheet by conducting open market operations. This means. That the Fed sells financial assets, mostly government bonds and mortgage-backed securities.

It turns out that liquidity in the markets is decreasing. And that means assets like stocks and cryptocurrencies simply have nothing to grow on. Add to this the negative news related to the SEC’s fight against cryptocurrencies. And also answer yourself the question after that: “What should the crypto market grow with right now?”

So the best thing a crypto investor can do is to buy Stablecoins and wait for more interesting entry points into the market. It is equally important to keep a close eye on the further actions of the Fed and the U.S. Treasury.

Additional idea of long-term investments

All of the above provides excellent opportunities for long-term purchases of time-honored assets such as Dash (DASH).

Dash is a decentralized payment system with support for private and fast transactions. Dash is a modified fork of Bitcoin. And it uses both mining and stacking to issue new coins.

Unlike popular “memcoins” and outright scam tokens. Dash cryptocurrency has been around since 2014. And its developers have never been caught in any suspicious activity. And unlike the vast majority of coins on the market. Dash, judging by its metrics, has a real decentralized management. For example, only 15% of existing tokens are held by the top 100 holders. But the main reason to buy this coin is revealed by technical analysis (chart).

chart

The coin broke through a historically strong support block order. And that has kept the price from falling lower for more than five years.

Order block in trading is a grouped set of buy or sell orders in a certain price range. That is, it is an area where a large proportion of market participants are interested in buying or selling an asset.

A great amount of liquidity has accumulated under this support and the price has followed it. The whole fall occurs at a very low volume and oversold indicators.

Our experts say that the price is likely to wiggle below this support zone for a couple of months. In order to shake out all the long-term holders of the coin. And then it will break through the long term downtrend (green line) and the price maximum of 2021. Therefore, this coin is worth buying into your portfolio and forgetting for a couple of years.

Disclaimer:

Crypto-Upvotes does not provide investment advice. This material is for information purposes only. Cryptocurrency is a volatile asset that can lead to financial losses.