Like it or not, Monday has arrived. With it comes new opportunities for profit in the cryptomarket. Let's take a quick look at what you need to know this Monday morning as you sip your coffee.
Overnight
The markets have nose dived overnight. Nine of the top 10 by market cryptocurrencies are down for the last 24 hours despite being up early in the day.
At this moment, Bitcoin is trading in the mid-$51k range, down from a high over $58k early in the day.
Ethereum is also down sharply trading at $1,741 as I write, down 22% from its recent highs.
Winners
While the day has been rough for the majority of cryptocurrencies their were still some winners to be found. Looking at the days biggest gainers in the top 100 shows some nice looking charts.
Crypto.com Coin is the biggest gainer, with a big 66% spike for the day. Will that spike hold or will it dump back to its baseline?
Holo (#hot) has had a very good week and has added to that with a nice 24 hour gain, up nearly 30% for the day and 150% for the week.
The charts for MDX and FTM also look promising, both are up over 20% for the day and 100% for the week.
Losers
With so much red across the boards, it isn't too surprising to see some big losers for the day. Hhowever, all of the day's biggest losers have had positive weeks.
Dodo is the day's biggest loser down nearly 20%, however it is still up 130% for the week.
Cake, a recent favorite on these boards is on the list of biggest losers, down nearly 17% for the day but also still well up for the week 120%.
My Take
After a strong week of gains, it isn't surprising to see a correction. As we have seen in the past these corrections can be sharp. I wouldn't be surprised to see the declines continue for a day or so, but will be watching to see if there are signs of a change in sentiment. The market has been on a strong bull run and I don't currently see that changing.
Alt Coin Spotlight
My alt coin to highlight for the week is Holo (HOT). Holo is a cloud hosting market for distributed applications.
But don't think big tech cloud storage. Holo is a decentralized consumer based model where average citizens can buy a HoloPort and earn HOT by providing storage to the market.
The HOT has had a great run recently up over 150% for the week. In fact it looks to up 7.5% since I started writing this post.
Good Luck This Week
Here is to hoping that we all have another great week in the cryptocurrency market and that all your trades are profitable.
Drop me a note with some alt coins you are following. I'm always looking for the next great alt coin.
Posted Using LeoFinance Beta
Posted Using LeoFinance Beta
I picked up a little bit of CRO quite a while ago because I wanted to stake it on their platform. It has certainly taken a while, but it is nice to see it doing so well now!
Posted Using LeoFinance Beta
Good for you. It looks like it has had a great year. I had picked up some HOT just yesterday so I was happy to see it on my list today.
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I guess I don't really own as much as I thought I did. I just looked in my wallet a little bit ago and it is rather disappointing. Now if it makes it up to $1 per token, that could be a different story!
Posted Using LeoFinance Beta