Black Friday came early for the entire crypto market just after climbing the $19k range, are we about to experience a repetition of a past event, or currently en-route to a new all-time high after 3 years of waiting?
Hi guys and welcome to another edition of Crypto Weekly, a weekly writeup the talks about the crypto market with regards to BTC, ETH, and EOS.
The past couple of months has been one solid ride starting from a low of $10k to $19k, BTC from investors view is currently the best-performing investment if you invested any amount starting from January 2020 and while other types of business continue to struggle to meet daily needs, it simply ignores the entire trend as it continues its path to greater heights.
This was the case until a few days back and one can actually say black Friday came early for the entire crypto space.
From past data, this is not actually all that new, if you recall vividly or have been in the crypto space for a while, the ongoing event is like a repetition of an event that took place some time back was the entire crypto market dived down as well and it was also tagged black Friday sale on the entire crypto space.
Starting from a weekly price position of $18k, BTC was able to climb its way above the $19k mark once again and this time there was no stopping it as it moved beyond the $19k and arrived at a new high of $19295, but things soon take a worse after a sudden and massive dump taking it to a weekly low of $16700, a figure that hasn’t been seen for weeks.
The morale of crypto traders remains ever strong and many are pegging the dump as a good opportunity to buy more in case you missed the previous dumped prior to now.
That said, the above is not financial advice, and Individuals are advised to always do their own research before investing in any form of digital or offline platform.
After arriving at a new year’s high, a sudden and quick retrace was observed mainly caused by BTC fall.
Starting from a weekly position of $483, ETH was able to climb its way up and achieved a new year’s high of $614 before plummeting to its current state of $522.
The crypto market took a quick and sudden hit, everyone was left in a shocking state and what lead to this is yet to be discovered, yes the market is highly volatile, and stuffs like this shouldn’t be all that new to anyone who has been in the crypto space for say 2 to 3 years, green days happen so also red days which we experienced of recent.
The market is still a little bit shaky and no 100% prediction is able to detect what price movement will take this upcoming week.
What started as a glorious week soon turned out to be a bloody street after a dump or rather correction in the price of BTC taking EOS to $3 and below.
Starting the week from a price of $2.67, the entire EOS community felt a sense of strong jubilation as EOS climbed and attain a new high of $3.7, a figure that hasn’t been seen for the longest time, it was a joyous occasion for as briefly as it lasted until BTC took over
No one expected the price dump to be that serious as EOS took a straight dive down from $3.7 to a low of $2.9 where it currently trades.
With different events coming up as we gradually enter the last part of 2020, one has to wonder if the pump over or another wave is coming up?
I would love to hear your comment on this, so please leave your thoughts below via the comment section.