Today is Friday, 10th 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!
The index is back to the extreme fear zone, dropping down by 5%. Bitcoin’s weakness almost guarantees that the cryptocurrency will slip to the $45,000 support in the next few days.
Traders’ pessimism is a clear sign of that too. Many of them are either waiting to see what will happen during the rest of December or using their holdings to short BTC, heating up an already boiling market.
I’m not expecting a pump, so the best case scenario would be Bitcoin maintaining a relatively flat sideways movement. Only then would bulls get a chance to push altcoins’ prices up a little. Otherwise, no matter how much strength altcoins gather, Bitcoin’s nosedives will drag them down again and again.
The current decline in the market and Bitcoin’s continuous and painful collapse have naturally affected altcoins in an extremely negative way. Binance Coin (BNB) couldn’t make it above $600 once again. Despite being a potential long-term rival for Ethereum (ETH), Solana (SOL) has abandoned its plan to get ahead, as did Terra (LUNA), dropping by 10% in less than 24 hours.
The situation will change only when BTC draws up a plan of action.
IoTeX becomes the gainer of the day, having climbed 30%.
WAX becomes the loser of the day. It has lost over 15% in price.
Never forget about stop-losses, and don’t neglect risk management.
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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.
|BITCOIN (BTCUSD) ₿||$30,261.98||5.51%|
|ETHEREUM (ETHUSD) Ξ||$2,015.39||5.45%|
|IMM. US (REIT)||$2,457.73||0.02%|
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