How traders can use Twitter to anticipate altcoin price moves
Data shows that a spike in Twitter mentions preceded massive price rallies in at least five altcoins. When crypto traders win big, they often take to Twitter to share the joy. They tend to do the same for sharing painful stories of getting wrecked, discussing promising new assets, or sharing insight and predictions on which projects can become the next big thing. Sometimes these waves of social attention can even create positive feedback loops whereby the tokens that command the chatter see their prices soar precisely for that reason.The volume of tweets referencing a particular asset can....
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Altcoins have been on a real tear for months, but Jarvis Labs analyst Ben Lilly says we’re not in an "alt season" just yet. Few traders would argue against the fact that Bitcoin (BTC) is in a bull market, but there is less consensus on whether the market is in the midst of an "altcoin season." A quick view of Crypto Twitter shows the schism between traders who are certain we are halfway through alt season and those who believe it has yet to begin.Typically, traders rely on a wide swath of indicators and metrics, like Bitcoin’s total market capitalization versus the total altcoin market....
Market uncertainty in crypto was once again higher on Thursday, as traders continue to anticipate next week’s Fed decision. Following a drop to a one-month low during Wednesday’s session, BTC rebounded, with prices now hovering below $40,000. ETH also rallied, attempting to break out of the $2,950 resistance level. Bitcoin BTC was back in the green on Thursday, as bulls bounced back following yesterday’s drop, which sent prices to a one-month low. Wednesday saw BTC/USD trade at a bottom of $38,555.90, however the momentum swung today, with prices hitting an intraday....
Litecoin comes back into the upper bound of the price range of $3.50 - $3.80, following the growth of Bitcoin price which happened this morning. The LTC:BTC pair exchange rate has also found a new force and returned to the level of 0.008. Thus, short sales from the level of $3.80 are of interest. DASH however, continues to hold at the local bottom of 0.0056. Having a quite good amplitude of price moves, that reached 0.006 at the beginning of a week, helped traders to earn on purchases from the level of 0.0056 and below. It seems, that we will see the prices of 0.0056 and 0.006 much more....
Some traders anticipate the leading cryptocurrency to significantly outperforming the entire crypto market for at least the next several months.