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Crypto Market is Not Free from the Bearish Trend Yet

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Investors and traders are still speculating over the bullish trend that shook the market this past seven days. However, amidst the joy of the price hike in the industry, some people are still cautious. A crypto trader with the twitter handle of BTC_Macro is advising other players in his tweet to be careful. According to him, the bearish cryptocurrency market is not over yet.

In the tweet, the user admonished players in the market not to listen to the people saying that the bears have given up. It went further to say that Bitcoin may still plunge uncontrollably anytime even if it breaks the $6K mark. When this occurs the twitter user continues, any scenario may occur. The advice is that players in the crypto market should be on the neutral side. According to the user, it is not safe to be on the bullish side or the bearish side. Instead, players should be on their toes without bias.

How Trader reacts to price movements

Over time, it has become evident that many traders usually go against the market majority during bearish or bullish trends. Well, there is usually some logic backing up the reactions.

It is true that we have seen the longest bearish trend in the history of cryptocurrencies. Everybody who has a stake in the crypto market is expecting the day of the bull’s rise in power. We are all looking forward to seeing if Bitcoin can hit the $20k heights once again as it recorded in 2017. Therefore, the opinion that the bears are still in play is not unfounded — the reason being that the digital currency has not tested the main resistance level yet.

What is your position on this?

It is advisable that all investors in the market should cautiously follow the current position of the Bitcoin price. Being cautious may be one of the strategies that can work during this period. Don’t forget that the digital coin is yet to approach a major level.

Well, many people agreed with the tweet while others disagreed as we expect on a controversial topic. However, another tweeter tried to summarize the position of the responders. The user stated that the sentiment about the occurrence in the market is bullish. As such, many people will easily believe that bears in the market have given up.

The truth is that the point which the tweeter user was trying to make is glaring. It is implying that investors and traders should beware of the short-term price movement. They should not use the recent developments as a yardstick to make investment decisions. Following the sentiment that the market is on a bullish trend may lead to wrong outcomes.

How Bitcoin will perform regarding its resistance or support level

Meanwhile, it is good to watch the crypto leader closely in the days to come. Let us see if it can hold its support level at $5,000 or retest the $6000 level. If the cryptocurrency didn’t hold the support of $6000, many people would agree that the bearish market is not over. The reason is that the level is a major key level for the coin.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve,…

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CoinFlip Scores Big with BRD Wallet Partnership

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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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