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November 2022 has seen a new low for Bitcoin after FTX completely capitulated and filed for bankruptcy. However, it’s not all bad news for the crypto markets, as some bullish action on the charts is accompanied by some major buying opportunities with prices at their lowest point for 2 years.
With the markets potentially reversing, a project that looks set to do some major gains during 2023 and beyond is Metacade. The MCADE presale looks like the perfect opportunity to make some bear market gains.
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FTX collapse
The first half of November characterised the 2022 bear market almost perfectly. A centrally-controlled crypto platform that was horrifically mismanaged by its leadership placed billions of dollars worth of user funds in jeopardy, as the collapse of FTX has resulted in another new low for the crypto markets.
This follows on from LUNA, UST and the Terra ecosystem back in May, which caused a cascade of liquidations and ultimately influenced the collapse of Celsius Network, Voyager, and other yield-bearing Ce-DeFi platforms. While it all seems quite bleak, there is a silver lining: many over-leveraged platforms have been firmly shaken off and the market correction seems to be nearing its end.
Bottom In?
The weekly chart for Bitcoin looks surprisingly positive, considering all the negative news that has come to light in recent weeks. After forming a new low at approximately $15,600 per BTC, the Relative Strength Index (RSI) made a higher low once again. So, after 3 consecutive lows, the RSI has made 3 consecutive higher lows.
The RSI measures market momentum. Since this is slowing down, this means that a bullish divergence has just occurred in the weekly Bitcoin chart. It remains to be seen whether this was the absolute lowest point of the bear market, but this is certainly a strong indication that it may not be too far away.
Investors Prepare for Reversal
Bear markets are always the best time to buy for long-term investors. Prices are low and strong projects are undervalued. On top of this, projects that launch during bear markets can typically produce some of the highest gains out of any project during a bull market. Investors are looking to uncover some of these high-potential projects and one that looks like the optimal choice for many is Metacade.
What is Metacade?
A Hub for Play-to-Earn Gaming
Through hosting a growing list of arcade games on a single platform, Metacade is building the biggest Play-to-Earn arcade on the blockchain and looks set to become a major name in the GameFi space for years to come.
Every single title in the P2E area will offer crypto rewards by default which means that gamers can gain access to a great number of earning opportunities. MCADE tokens will be used to reward players for the progress they make in the Metacade arcade, as well as provide a host of other utilities within the Metacade ecosystem.
The Metagrants Program
Metacade will connect high-potential GameFi projects with its community of gamers who can vote on which titles they would most like to see developed and brought to the platform. After reviewing investment proposals from these new projects, the Metacade community gets to decide who receives funding through the Metagrants program and directly influences the future of the Metacade platform itself.
A Higher Level of Competition
Metacade will also host a series of Play-to-Earn tournaments on the platform, where competitive gamers can get together and try to win MCADE token rewards. Through hosting these tournaments for a broad selection of top GameFi titles, Metacade is combining casual arcade games with online tournaments to deliver a more comprehensive playing experience. Whether a casual or competitive gamer, Metacade has features that can suit your needs.
A Community-First Approach
The biggest on-chain arcade will eventually be governed by its community of avid gamers. By creating a decentralised autonomous organisation (DAO) over time, Metacade will give more power back to players to influence the future of the platform itself.
A Decentralised Future
While the crypto markets have suffered significantly in 2022, one thing has certainly become clear. Projects that are purely managed by centralised entities are the riskiest for users, as LUNA, Celsius, Voyager, and now FTX, can all attest to. Instead of being managed by automatic, emotionless and honest smart contracts, centralised entities are at the mercy of a select group of individuals, meaning unscrupulous behaviour is harder to predict.
As a selection of major Ce-DeFi platforms went bust, DeFi proved just how robust it can be once again. Metacade is an example of a project that can serve a large number of users with a platform that offers some unique benefits, while it also has plans to become purely governed by a community of dedicated gamers, and many investors believe it has high long-term potential as a result.
For now, the MCADE token presale has only just begun. You can get 125 MCADE for every dollar invested, as the price is currently sitting at just $0.008 per token. The price will rise in stages over the course of the presale to $0.02, so it’s truly worth getting in early to get the best deal. After that point, the sky is truly the limit for Metacade.
You can participate in the MCADE presale here.
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