BTC set for another bull rally? Or simply a pump and dump 🤔
Hi guys and welcome to another lovely day, it's been one crazy week inside the crypto space with price spiking up and retracing back but that said, BTC and altcoin are currently doing okay, not the rally we all expected but still better than a dump.
As usual, Crypto Weekly is a weekly writeup that talks about the crypto space with regards to market prices of BTC, ETH, and EOS.
Over the week BTC experienced quite the dump moving from its initial price of above $11k and a deep dive down to $10200, it was quite scary frankly speaking and again the entire crypto space was simply speechless and amazed from the dump with altcoins tracing new lows.
It was quite a stale movement for several days as altcoin tried tracing back their initial price peg only to fail on several occasions, but as usual, a brighter day is always ahead.
Its another week and proud to say BTC is not dead and more, it is actually gaining more attention as a price hike of $10200 to $10800 was observed only for a slight retrace to be observed moving to $10600 where it currently trades, that said one can only wish for more green candles to come and not the reverse.
All signs are showing green but again the crypto world is highly volatile and no 100% judgment can be generated.
Ever felt scared? ETH gave this feeling to many during the week as a dump in price was observed with ETH moving from a high of $380 to a low of $318 and many thought $200+ was no longer far of but it seems the support was far better than the resistance as a retrace was soon observed moving its price from $318 to $350 where it currently trades.
So, did you buy the dip?
While ETH price continues to show a favorable atmosphere, it seems the Defi world is not done yet as more continue to spring up on daily basis and some offering similar features of existing ones while others bring new concepts and higher ROI to the table.
It has been one wild week and also it seems meme is the new go, of recent we experienced certain meme base coin do 1000x+ from their initial price and some of them were actually airdrop related, thus bringing the mindset if its the season of airdrop once again.
All said users are advised to do their own research before investing in any platform and don't ever share your private key or mnemonic key to anyone.
The Ethereum replace is gradually losing its place if nothing is done soonest.
Starting from a price of $2.77, EOS also experienced a downtrend just like every other altcoin diving to a low of $2.43 before the reverse where it currently trades at $2.55.
While other coins also experienced the same downtrend, it seems EOS is gradually losing its ground around the top coins ranking in Coinmarketcapp after leaving the top 10 coins some few days back and gradually sliding down with a current position at 14, will a continuous downtrend be observed or something different is coming soon?
EOS still continues to be that coin everyone sees as a good opportunity to invest in but for some reason refuses to move to expectations.
All hopes are not lost, with many claiming the next bull movement will be far better than 2017, one can only hope the coins they currently hold on their portfolio follow the movement when it starts, and by this I mean EOS as well.
This is all for today until some other time stay safe.
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Nice to know about cryptocurrency
I'm glad prices are recovering. My portfolio was down 30%.
BTC needs a good pump. It's been bearish for long.
Doesn't TRX have more potential than EOS?