Experts suggest crypto traders not to short every pump in these coins
Crypto experts suggested crypto traders not sell all the crypto following a pump in the trade price because the current situation is different, ahead of the new phase of this innovative sector.
At present Bitcoin trade price is net positive year to the date and crypto analysts are claiming that the bear phase of the crypto market is near the end phase and heading toward the bull phase.
Recently some coins surged rapidly by double or triple fold, out of every technical analysis or trend. Namely, these crypto tokens are $CYBER, $PERP, $TRB, and $HIFI.
A crypto analyst shared his suggestion for crypto traders to wisely play with investments in similar kinds of assets. According to this crypto analyst, these types of crypto assets are surging rapidly without following any trend of technical analysis, so it is better to sell in small percentages instead of whole.
DON'T SHORT EVERY PUMP
— Whale Analysis (@Whaleanalysis) September 16, 2023
Every week, there are a few coins that pump over 50% in a day, and we don't know the reason behind it.
Right now, we are witnessing a major pump every week that is just liquidating every short.
First it was #CYBER, then it was #PERP, and…
HIFI token
HIFI token surged net 208% in the last 7 days and the trade volume hit $717 million in the last 24 hours.
On 16 Sep, the Binance crypto exchange opened a HIFI perpetual contract.
— CryptoResearch (@CryptoRResearch) September 17, 2023
TOP 8 | Trading Data ON BINANCE Change In the Last 24 Hours
Hot Coin:#BNB #BTC #ETH #FRONT #HIFI #FIDA
#PROS #BLZ
The current trade price of the HIFI token is $1.06 & the current trade price of this token is 47% down over the last 24 hours’ trade price.
Few crypto experts believe that such types of pumps in less popular crypto assets is basically a sign that the crypto market is going to gain huge investment inflow, which already happened before every bull run.
Bitcoin Greed & Fear Index
The current Bitcoin & Greed Index is 46, which means the majority of the crypto Investors are not confident to invest in cryptocurrencies.
According to expert’s points of view, this situation is still not a good time to invest in cryptocurrencies. If this index hits 20 then that will be a better moment to invest.
Read also: Financial guru Robert Kiyosaki says crypto is the future
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