tl;dr
• Bitcoin hit $23,417, but failed to maintain• SHIBA pumps and maintains a higher low• Cardano and Polygon were big movers, even counting pullbacks• I am paying attention to Fantom, Arweave and Render each have strong use cases for the future• Coinbase, Marathon Digital, Galaxy Digital and MicroStra...
• Bitcoin hit $23,417, but failed to maintain
• SHIBA pumps and maintains a higher low
• Cardano and Polygon were big movers, even counting pullbacks
• I am paying attention to Fantom, Arweave and Render each have strong use cases for the future
• Coinbase, Marathon Digital, Galaxy Digital and MicroStrategy are crypto-related stocks I am watching
• Twitter may be up in the air about DOGE, but if you connect the dots, there could be something there
The previous week had some nice peaks and valleys one could have taken advantage of. My $23,417 number was hit, but Bitcoin couldn't maintain. Here is what is on my mind this week.
Last week was very eventful. We saw Bitcoin bounce up about my $23,417 number and even hold the lone for a little bit. Unfortunately, it couldn't maintain the momentum and remain above that line. This week I am expecting more lateral movement from the overall market, especially Bitcoin.
That said, any news will, indeed, spike other coins. An example of this was SHIBA news about its pending release of Shibarium. Over the last 7 days you saw that coin rise over 17% then pull back almost 7% from there. I mention this coin specifically because the release of Shibarium remains relevant along with projects expected to launch soon after. Other coins are mimicking that same pattern. Don't sleep on Cardano and Polygon that have seen 40% and 50% increases over the past 30 days, respectively.
I am going to be paying attention to Fantom and Render as time moves forward. I am expecting more news and announcements in the coming weeks that will follow what has already been discussed about both projects. I am also going to be paying closer attention to what goes on with crypto stocks like Coinbase, Marathon Digital, Galaxy Digital and MicroStrategy. I want to see if they correlate to technology stocks or break away based on their independent moves.
I am also going to keep an eye out for movement on DOGE. I am sure you are asking "Why, Eddie?". Well, Elon said Twitter will be sharing revenue with creators in the future. When that future is, I have no idea. How much they will share, I have no idea. That said, news just dropped a few days ago about Twitter's being on the verge of integrating crypto. I think it would be a mistake to not include Bitcoin and Ethereum, but I don't know if DOGE is in the works, too, but chances seem to be growing.