Today is Monday, 6th 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 market is at the extreme fear zone, with the index nearly having nowhere to fall further. Bitcoin (BTC) is struggling for the level, and it’s most likely that the first cryptocurrency has no chances to climb higher amidst the current pressure. Growth is only possible in case the market is deliberately pushed to the right course. However, manipulators don’t seem to show any interest yet.
It’s also quite possible that Bitcoin’s weakness is simply destined to trigger retail players’ shorting. Perhaps some kind of a large whale is preparing to enter the market and is now patiently waiting for BTC to reach the lowest possible price so as to go and buy. This, in turn, could result in further growth combined with a series of large liquidations of short positions, which will push the price higher and higher.
The top alternative cryptocurrencies keep sliding down. Many have already suffered substantial losses. Yet you can make wise use of such moments and get yourself some goods. Each new collapse is a great chance for a bargain purchase. So, carefully monitor the market and select the optimal entry points to the assets you are interested in.
Basic Attention Token has become the gainer of the day, showing yield of over 13%.
Having lost 17%, Quant is now the loser of the day.
Never forget about stop losses and don’t neglect risk management. Bitcoin is still extremely weak, which means that retail players are almost not interested in buying. Many are waiting for the price to fall even lower. This severely affects the market of alternative cryptocurrencies as well.
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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) ₿||$30,423.41||0.52%|
|ETHEREUM (ETHUSD) Ξ||$2,066.74||1.28%|
|IMM. US (REIT)||$2,463.96||0.79%|
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