Today is Tuesday, 7th 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!
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The Fear and Greed Index has taken a few careful steps towards greed. Shopping for altcoins seems to be very attractive right now; make sure that you don’t spend too much money on it. Until Bitcoin (BTC) tackles the $52,000 mark, there’s still a chance that the whole market will take another nosedive. The latest increase in BTC price doesn’t mean that the cryptocurrency will not retreat to $45,000 again.
Even though the Fear and Greed Index is only used to measure investors’ sentiment towards the markets, I couldn’t help but notice that BTC price attempts to fight bears every time the index reaches the extreme fear zone. It’s possible that it drives investors and traders to take action.
Bitcoin gaining a foothold above $50,000 has allowed some altcoins to start growing again. Nevertheless, we cannot talk about any kind of stability until BTC sets on a steady rise.
Binance Coin (BNB), Cardano (ADA), Ripple (XRP), Polkadot (DOT), and, of course, Ethereum (ETH) deserve special attention. These are the only coins that have seen at least some kind of growth in the past few days. Don’t forget about stop-losses while trading those cryptocurrencies.
BitTorrent has brought its holders a 30% profit, becoming the top gainer of the day.
Immutable X has become the loser of the day with a loss of about 5%.
Get ready for a serious change. It’s too early to say that the market has recovered from the recent dump, so make sure to never neglect risk management and stop losses!
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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) ₿||$29,358.13||-0.21%|
|ETHEREUM (ETHUSD) Ξ||$1,970.62||-0.13%|
|IMM. US (REIT)||$2,463.96||0.79%|
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