Hey guys, The market is all acting up again. Probably because of US CPI data. And so bitcoin dropped to 59-57K again. Do ya'll think it'll go for 70k price target? Because I believe we won't be stuck on that price for so long.
Others mentioned that we are in the ghost month, so yeah, historically August doesn't like to be a good month for Bitcoin and the rest of crypto. And with that, I don't see the price getting into a $70k range, we need a lot of money to push the price to that level. And with so many negative news around, I doubt that investors are willing to pour their money in the market.
Anyways, I believe some folks are looking for some passive income right now. It's not an uncommon thing to do, we'd earn by staking, giving liquidity in a dex and etc. but what can be a really good passive income?
Well everyone has to look for other ways to make income, it could be that we have online business. But for crypto, I think it's staking is good, however, you should know that your money is trapped with this kind of staking for at least a year.
So I am assuming that many investors are holding USDT due to market uncertainty. I believe we can stake USDT at any good staking platform. Platforms like Bitget offer attractive rates of up to 18% APR, while Binance provides a more modest 1.91%, so y'all know what's best.
Staking though is not the same as before, initially the APR is very high, but due to the competition, and more exchanges offering it, the APR has really gone done. Although still very high as compare to banks so yeah, why not as long as you are willing to take that risk.