Bitcoin Seeks Support, Doge Trending Again And VeChain Being Pumped?
One of the draft stories I threw into the trashcan last week was a Reddit post of a crypto enthusiast who had made charts showing all the Bloody Sundays over the years. Seeing this past weekend’s action I now regret not having written it of course.
The chart that he had come up with referred to the fact that, according to his conviction, Bitcoin has the tendency to rise on Saturdays and drop on Sundays, or at least that is the urban myth.
Even Jim Cramer once stated that even though you should now invest in Bitcoin, it’s better not to buy it because of the volatility during the weekend.
As Monday morning came around the sky seemed to have cleared up with Bitcoin seeking a support line around the $55k mark, Ethereum holding well above $2k and the rest of the top ten well in the green again.
According to the commenters on the cryptosphere, several whales got together over the weekend and spread FUD because they wanted cheaper Bitcoin.
At least that is the answer experienced trader Scott Melker (Wolf of all streets) got when he tried to understand why Bitcoin dropped 12% on Sunday.
DogeDay trending again
A notable rises this morning is of course Dogecoin which is still up an astonishing 350% over the past week.
The meme cryptocurrency has been able to hold onto the $0,30 line and many claim that tomorrow, which is being named DogeDay420, will be even better.
Bennet gets into VeChain fight
Over in the top 20, the astonishing rise of VeChain continues even though it hit a snag this weekend when its favorite analyst Justin Bennett claimed that some of the recent rise was due to an artificial pump brought on by a Discord group.
A buddy of mine mentioned that $VET was being pumped on Friday by a large Discord group. I’m not going to give them the satisfaction of mentioning the group name, but the move was and still is 100% organized. That explains a lot.
He however also claimed that his previous technical analysis still stands and that VET should achieve his earlier goals:
Stating that there was a coordinated VET pump on Friday takes nothing away from the fundamentals behind VeChain. Does VET deserve to be where it is? Hell yes. I’ve said multiple times I think it’s going to $1 to $3 this year.
His followers were confused though, with many claiming that a pump of 4 billion dollar crypto which has by now reached the top 20 of CoinMarketCap was simply unattainable.
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