Today is Tuesday, 14th 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 Fear/Greed Index has once again shifted slightly towards greed.
As any growing market will have its ups and downs, so will a bearish one. In these conditions, bounces are far from uncommon and sometimes almost mimic the patterns of corrections. When an asset keeps falling for a long time (especially one like Bitcoin), sooner or later, they’ll start buying it. And if the volume of these deals isn’t enough to secure a price level that would be key for a trend shift — that’s when the bounce occurs. You may think the prices are on the way up, but that’s merely a temporary occurrence that won’t be followed by further growth.
For the trend in the market to change and for prices to start climbing, Bitcoin must gain a foothold above $56,000. But that’s hardly possible when there’s little to no interest on buyers’ side.
If BTC dips below $40,000, then you may call it a crypto winter. Of course, the chances are high that it has already sunk its frosty claws into the market. However, to confirm that a breakout is required. In our case, it’s the $40,000 support. A move below that will be a call for the final breakdown of both an upward global trend and a flat. And that would be the beginning of a global corrective wave, also known as crypto winter.
The top altcoins are still in the green. However, that’s only so due to the recent slight growth of Bitcoin. Right as we speak, these assets are steadily losing their recent gains. And the reason for that is, once again, BTC, which started the day with a slight drop.
So far, Dogecoin (DOGE) stands out the most through the efforts of none other than Elon Musk, who promoted this coin in his recent interviews. Following his statement that DOGE will be accepted as a payment method at Tesla, the most famous meme coin perked up and left its rivals far behind. The closest of them, Shiba Inu (SHIB), is already in 13th place in the rankings.
Avalanche (AVAX) is today’s gainer with a profit of over 18%.
Revain (REV) remains the top loser for the second day in a row. This asset brought its holders another 12% loss.
Don’t 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) ₿||$30,125.96||-0.46%|
|ETHEREUM (ETHUSD) Ξ||$2,029.07||-0.57%|
|IMM. US (REIT)||$2,463.96||0.79%|
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