Ninjastic
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Topic
Board Altcoin Discussion
Re: Your idea about Cake token
by
shinratensei_
on 20/12/2021, 00:02:07 UTC
Quote from: SUPERSAIAN on December 19, 2021, 08:05:02 PM
Quote from: shinratensei_ on December 19, 2021, 07:21:33 PM
Quote from: flyx on December 19, 2021, 08:52:56 AM
Hey Guys
Do u think CAKE value will increase at new year  Huh
I don't even think if it will increase in a new year and this totally depends on bitcoin. Bitcoin is still looking for sideway and i think cake will be following the bitcoin pattern. I have been staying away from buying altcoins at this moment as per the bitcoin trend is still unpredictable. It may increase or go even deeper than this time. The value of cake may increase but when bitcoin goes deeper and it will be dumped even deeper as well.You must be careful with this.

I totally agree bitcoin needs to set direction first. Altcoins are being crushed right now, I don't expect it to rise in this scenario. If we examine Cake basically. Investors seem satisfied with the latest IFO change. I can say that the annual apy is still attractive. If bitcoin re-enters its uptrend, CAKE could react quickly. And investors want to trade with Cake in the NFT market. They have to vote for this, it will be an event that will trigger the rise.
Yeah, basically all of the altcoins are only following bitcoin. Even good news will not give any impact on the price of altcoins when the price of bitcoin gets dumped. So many times market has proven this if the bitcoin effect was even stronger compared with the fundamental impact from the good news that comes to the market. The only problem is bitcoin trend.
I have a token in my portfolios with very good fundamentals but it can't resist from the bitcoin dump although it has good news released on its twitter. Even the listing news would become useless as people are getting scared to put their money into the altcoins. They are waiting for bitcoin to be stabilize.