Altcoins on 9th December 2021 — BitTorrent (BTT) down, WAX (WAXP) up!
Today is Thursday, 9th December, and this is Cointribune’s Crypto analytics. You will learn about everything that’s been going on in the market, as well as what to expect next in our new article! Make sure to have a look at the previous instalment. Off we go!
Fear and greed index
The fear and greed index keeps growing. In fact, that’s a vivid indication that fear is gradually receding, giving way to the urge to buy.
However, the indicator still gravitates to the fear zone, with its latest growth most likely corresponding to yesterday’s huge purchase made by an unknown whale. If BTC doesn’t heal and start climbing, yesterday’s Bitcoin enthusiast will find themselves unprofitable, which may trigger them selling the asset back. Most often whales don’t engage in stuff like this, but prefer to hold the position to the bitter end. However, in case the first cryptocurrency makes a steep dive, then the whale’s hand may falter.
Top 10 altcoins
The market is at a crossroads, yet there are some front-runners popping up among the top ten alternative digital assets. Terra (LUNA) stood out more than others. The coin has recently updated its ATH at $78 and then collapsed heavily all the way to $50 together with the rest of the market. Now LUNA has once again got close to another ATH and is ready to break through it.
Finance Coin (BNB) climbed above $600 again. It’s hard to say whether the asset will finally hit $700 this year or not. However, a plethora of investors are confident BNB is still worth keeping in your portfolio.
Ripple (XRP) has also proved itself as a good option. The asset frequently gets delisted from crypto exchanges — they are afraid to deal with XRP which is involved in a lengthy lawsuit with the US Securities and Exchange Commission (SEC). However, this is no obstacle for the asset to grow in price.
The gainer of the day is WAX, which has managed to grow by 30%.
BitTorrent is the loser of the day with a loss of over 12%.
Never forget about stop losses and don’t neglect risk management. The market is walking on a very thin edge. In case manipulators have nothing to do with the case, it’s highly possible that a new dump is patiently waiting around the corner.
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Le trading et l'analyse technique sont mes spécialités depuis 4 ans. Je décortique le marché et vous partage mon expertise.
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.