CakeDefi is a cryptocurrency company that provides customers with access to decentralized financial services. CakeDefi’s CEO, Dr. Julian Hosp highlights 7 things to watch out for next week on cryptocurrencies. Meanwhile, CakeDefi will launch its own staking coin for Cake users this week.
“Crypto investors should not fall into the trap of fake pumps!”
CEO of CakeDefi, Southeast Asia’s leading decentralized financial services provider, Dr. Julian Hosp shared 7 things to watch out for for cryptocurrencies this week in his weekly newsletter.
CakeDefi’s CEO said, “It was my first week after my only vacation last year. At the same time, a European team meeting and a major crypto event took place. I know I’m behind on some things. I’ll catch up with them this week,” he begins.
According to Hosp, given the price performance over the past week, investors should not fall into the trap of fake pumps. cryptocoin.comAs you follow, January started on a positive note for the entire crypto market. Accordingly, the leading crypto Bitcoin is currently trading at $ 21,141.26. Traders expect interest rates to be cut and ‘whales’ to buy.
Also, according to Julian Hosp, while the increase in Bitcoin price is a reason for optimism in the market, it could be a fake pump that leads people to make hasty investment decisions. He insists that traders be careful when investing. In this context, “I hope Bitcoin price is sustainable. However, I am not sure. Nothing helps the crypto industry more than Bitcoin prices above 30,000. I would be really happy. However, I don’t believe it,” he says.
“DCG, Grayscale, Gemini will continue to be on our radar in 2023”
Among other things, Julian Hosp emphasizes that the US CPI data is still 6.5%. The CPI, or consumer price index, measures the monthly change in the price paid by US consumers. Another point Hosp adds is about Grayscale. It highlights that Grayscale is not crashing this week or in the future. “The DCG/Grayscale/Gemini event will continue to be on our radar in 2023,” he says.
Julian Hosp adds that he expects an invitation to the World Economic Forum from his friend Davos. However, he states that he has decided not to attend the conference as there may be negative sentiment towards crypto due to the decline of FTX.
In addition, Hosp highlights how the cryptocurrency has never stopped and is traded 24/7 despite a public holiday in the US. Finally, he is making an important announcement to all Cake users via his newsletter that CakeDefi will be launching its staking coin this week. Additionally, Hosp reports that Cake’s web app will be shut down for three hours on January 21 for a backend update.
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