it is not every day that one gets to experience a cryptocurrency pump within the span of two hours, but that is what precisely happens today in the afternoon when brd was called and within an hour 30 minutes, the coin moved up about 33%.
It is one of those moments that really shows that cryptocurrency is highly different from stock market trading or forex trading.
It is not uncommon for cryptocurrencies to push up as much as 10 to 12% in value within a day and it is also not uncommon for cryptocurrency is to dip as much as 30% in the single day.
It is then left for the buyer or seller of the crypto.currency to determine if they will make a profit or not.
Technical analysis in cryptocurrency while related to the way it is in the stock market or forex market, is still radically different and usually on a shorter time frame than any of those two other market.
cryptocurrencies while still largely unproven, have shown them that they can be assets that change the entire lives of individuals.
as we wait for bitcoin to make a decisive move either upwards towards $4200 or downward towards $3600, many altcoins especially below the top 100 have all pumped up to around 30% + or thereabout.
it is not news that bitcoin going sideways, means that altcoins have a chance to pump up because people are removing their money from bitcoin and using it to trade alts.
By the time when bitcoin wants to move everyone sells all their alt back into bitcoin, in anticipation for bitcoin to pump up.
In the coming days we might see bitcoin mae a decisive move, as it has been trading in an upward channel, and then created a new pattern just a few days ago and now trading downward towards $3920 mark, from there, it could break down towards $3600 if we are not careful.
Excellent analysis @destinysaid and I hope that there will be no big price hikes, especially down!
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