Pull back after +68% with the past eight days ending in the green I’d say is a healthy correction. BTC dominance is now throwing distance away from 63%; a 1.5yr high and the rumblings calling for a pullback and a subsequent alt-coin rally are growing louder by the day. While good news is largely ignored The magnitude of the positive price action from positive news gets amplified in raging bull markets so headlines of collaboration with household names will surely have investors flocking back. Having said, (legitimate) alt-coin universe is much smaller than what it was last year meaning fewer options to diversify into and therefore less cannibalization.
We are seeing an uptick in ETH activity on the desk as ICOs come out of the woodworks to unload some of their raise alongside an uptick in altcoin activity. Well done for HODLing dear customers but we are slowly starting to see the dormant accounts come back to life.
- Chainlink ($LINK) +14.2% Coinbase to launch LINK/USD & /ETH pairs
- Qtum ($QTUM) -3.8% pulls back from +43% pop post 2.0 upgrade with new functions guided for yr-end.
- Mt Gox founder faces lawsuit of inappropriate security measures
- Binance announces tokens to-be-listed: $LBA, $RAVEN, VRAP et al.
- Coinmarketcap acquires Hashtag Capital for enhanced data.
- OmiseGo ($OMG) +3% ahead of GO.Exchange launch where OMG will serve as the exchange token for discounts
- Binance Coin ($BNB) -3.7% $1.2bn transfer from Binance following CZ’s guidance
May the trend be your friend… Happy trading!
