Today is Friday, 19th November, 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!
For the first time in a long time, the Fear and Greed Index took a leap into the fear zone. It’s also noteworthy that its current reading is not that far from “extreme fear”. The fact that the BTC fall occurred the next day is not accounted for by this indicator, leads us to think harder about the real state of the market.
At the moment, the buyers are still very weak and hardly defensive. Even if in the short term we expect a rebound to near $58,000, we still don’t have enough strength to go back and consolidate above $60,000. The best option would be to use part of your deposit to buy the asset at every possible drawdown.
The situation with the top alternative cryptocurrencies is so exciting that even CoinMarketCap is crashing, swapping Cardano (ADA) and Solana (SOL). The latter was knocked out in waves to number six in the ranking. At the same time, the fifth place was taken by ADA, which, according to all the same CMC data, has a lower capitalization than SOL.
Shiba Inu (SHIB) plummeted even lower. It looks like the mystery whale who invested a solid amount in this coin just a couple of days ago, made a big mistake. Let’s hope he doesn’t want to lock in a loss and stays with the mem-coin hodlers until the end.
Altcoins are boasting solid discounts. Keep an eye on developments and add to your portfolio. The most effective approach now would be to keep all your unused savings in stackablecoins and buy altcoins in portions during drawdowns. Of course, this advice is valid if you are interested in long-term investments.
Whatever the weather on the market, there are always a few assets that can hold up. For example, Decentraland brings its holders more than 20% profit and becomes the top gainer of the day.
Algorand is the loser of the day, with a loss of more than 15%. But, judging by his chart, the coin lost much more than that.
Do not forget about stop losses, do not neglect risk management, and use the opportunity to add to your portfolio.
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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) ₿||$20,885.17||-0.68%|
|ETHEREUM (ETHUSD) Ξ||$1,200.65||0.23%|
|IMM. US (REIT)||$2,441.27||-0.16%|
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