Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: MrSpasybo on August 01, 2021, 01:30:09 AM
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We have had a series of exciting days since BTC bounced from $29.5K on July 21. Most of the "famous" coins are recovering and BTC price is safe above $40K.
However, one thing that worries me is that the total market cap has not had a large fluctuation, has not reached $2T and BTC.D is trending up.
If we analyze the market, we will see that the recent NFT games trend is being pumped up strongly, represented by AXS which has increased from $3 on June 22 to $56 on July 27, are low & mid cap tokens, not top coins.
Most of the NFT game projects appeared a long time ago and also underwent a deep adjustment on May 19, not new and interested in the community. So I think their growth is just a tool for whales to suck more money into the market and signal to investors about a new rally and growth. Then, of course, there was a massive sell-off to end the market.
What is your opinion on this matter? Is this a real rally and growth instead of a bulltrap?
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We have had a series of exciting days since BTC bounced from $29.5K on July 21. Most of the "famous" coins are recovering and BTC price is safe above $40K.
However, one thing that worries me is that the total market cap has not had a large fluctuation, has not reached $2T and BTC.D is trending up.
If we analyze the market, we will see that the recent NFT games trend is being pumped up strongly, represented by AXS which has increased from $3 on June 22 to $56 on July 27, are low & mid cap tokens, not top coins.
Most of the NFT game projects appeared a long time ago and also underwent a deep adjustment on May 19, not new and interested in the community. So I think their growth is just a tool for whales to suck more money into the market and signal to investors about a new rally and growth. Then, of course, there was a massive sell-off to end the market.
What is your opinion on this matter? Is this a real rally and growth instead of a bulltrap?
Hopefully, .Market is growing, Not a bulltrap.
Current bitcoin price is $ 41.57K, It bounced back from $29.5 K.
Its really fantastic.
Altcoins also following the bitcoin , and growing now.
I have read the prediction about bitcoin will touch $ 100K at the end of this year.
Let's see.
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This market will not be consistent with tradition and established rules. That is why it is a decentralized market in order to violate any rules, established by it. The fact that they are now investing more in altcoins, in particular, NFT, do not see anything wrong with that. This is even, in my opinion, a very interesting and useful tendency. On the contrary, the market will be more stable from this. The concentration of capital mainly in bitcoin leads to increased risk and high volatility.
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We had a bear trap a few days ago when many people predicted the price of BTC would crash to 25K, followed by the event that Binance pushed the price to 48K USD to remove short orders. It can be said that this is the recovery phase of the market to 60K USD, not just a bulltrap. Bulltrap will come after the market recovers to 60K and has a small correction to $45K.
I still believe in the market and continue to buy more altcoins.
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While the market has been undergoing some good dip in terms of prices of coins and tokens, there were considerable institutional adoptions happening and that trend can continue for the rest of the year. Hence, that is now being translated with an upsurge of the market. To tell the truth, it may not be that big but at least we can see some good gains. Taking the highlights are some play-to-earn platforms and there is a big possibility this trend can be true until maybe next year and the reason is that people are being provided with something that they can earn from and when they earned they are expected to buy more of the same tokens or coins so that it is forming like a circular economy on its own.
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Crypto market has its ups and downs. I take a long-term view, focusing on advancements in technology and innovation in order to get a gauge on the healthiness of the broader ecosystem.
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The question posed by this thread strikes me as curious, I think it all depends on personal perception and what we understand by recovery and growth. Bitcoin has risen from $29,000 to $41,000, to me that is not a recovery, it is new money injected into global capitalization by some investors, and when new investors come in, others come out withdrawing their profits, so it could be the dead cat jump, but I'm not sure.
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It is not at all. but at least we can breath better these days. We have been seeing many altcoins are going up,moreover BTC that has bbhigher increase. But here, we can also see many altcoins still cannot go up to their previous prices before falling down.
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I think I will believe that the crypto market is recovered again once BTC cross $60,000. As long as BTC is in $40,000 and $50,000 not sure if the market is in recovery. Maybe it is just a bulltrap.
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Market is looking now green and many good news are coming. Bitcoin is now at 38k and can break All tome high. August is looking so bullish for altcoin. Nft coin specially gaming coin can make hype.
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I think crypto market has started recovering since the last month. Just see the price movement of most crypto coins right now, they are growing well, especially at the beginning of this month. I am sure that the price of most coins will be back again to soar in this month till the end of this year. Prepare your crypto assets, guys!
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If said Crypto Bullrun has started, maybe just, but it's not entirely. Just look, only certain coins have increased like Bitcoin, NFT Coin Games, and several other coins.
However, most other coins still cannot approach the rate when a few months before bearish happens.
But at least, this is better than a few weeks or months ago where many Roang stressed because the market dropped very dramatically.
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Yes, let's see how the market is struggling to get a better market rate every day.
Although many new bad issues are still around, in fact, people are still falling in love with crypto. We can see how crypto can really give a big impact on the world. ANd this may make the crypto market increasing again
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A clear breakout. There is a lot of resistance in $39,700-$40,000 area on small time frames. BTC need to break and hold above $40,000 to give a try to break the major resistance of $42,000-$42,500 and start the new bull trend.
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Not yet because there are many ups and down in the market and that will continue for a long time. After that i think according to my opinion it will grow and will be recovered, but it will take some time.