Altcoins Face Sell-off, but Outlook Remains Optimistic
Altcoins have fallen sharply as Bitcoin price dropped to $90,000. However, the overall signal is still positive, suggesting that the market can recover quickly.
Along with the Bitcoin price drop, the altcoin market also suffered a sharp correction, as leading coins such as Ethereum (ETH), Solana (SOL), XRP, and Dogecoin (DOGE) fell by 6-12%. This led to a large wave of liquidations with a total value of up to 1.76 billion USD. As Bitcoin continued to be rejected at the threshold of 100,000 USD, many investors questioned whether the “party” of altcoins was coming to an end.
Since September, this is the sharpest decline of altcoins as traders restructure their portfolios to look for “bottom-fishing” opportunities. Bitcoin’s drop below the threshold of 95,000 USD today has increased liquidation pressure across the entire cryptocurrency market.
Cryptocurrencies that have been on a tear during the two-month bull market have seen a sharp decline in the past 24 hours, according to analysis from blockchain data platform Santiment. However, Santiment noted that if retail investors get caught up in fear and sell off their assets, the market could quickly recover as buying opportunities arise. Meanwhile, crypto analyst IncomeSharks noted that the altcoin sector remains bullish, with professional traders taking advantage of the opportunity to buy on dips.
IncomeSharks expressed optimism about the recent altcoin price drop, calling it a positive development for the market. “This is the most bullish thing that has ever happened to altcoins,” the analyst said. The correction also led to a wave of liquidations, with the total value approaching $2 billion.
According to IncomeSharks, the correction has helped the market shake out new investors who bought into the bull market while maintaining Supertrend support levels – a key bullish signal.
Meanwhile, crypto analyst Rekt Capital said that the altcoin market has been rejected at a historic resistance level. However, he noted that this correction could be less severe, suggesting that the $425 billion resistance level is weakening. This trend could signal increased momentum for a potential breakout in the near future. Have a nice day.
This content has been plagiarised from here - https://tiendientu.com/altcoins-bi-ban-thao-nhung-tin-hieu-van-lac-quan/
Now @saintkelvin17 - is it a coincidence that this is the same website as this article was plagiarised from (https://steemit.com/hive-136769/@tetsu26/bitcoin-plummets-as-macro-economic-conditions-take-a-sudden-turn). A user that you "introduced" that I have caught plagiarising multiple articles and that you have upvoted using the @steemcurator07 account?
So you're using your steemcurator07 privileges to upvote your other accounts - all of which are posting plagiarised content.
I think it's time that you are relieved of your steemcurator duties. Or maybe you'd like me to dig a bit deeper and share an article about your activities?
cc - @steemcurator01, @abuse-watcher.
@saintkelvin17 I like to hear an answer!
@aneukpineung78
I can only read and follow this phenomenon. As I said before, it is not easy to join the curation team with a background that I do not know.
And you're experiencing this with your team, I'm sorry to hear that.
What about SLC? I'm sure a lot of the same things happen, plagiarism and recycled sentences.
This is most likely to happen in learning about health topics. As a health worker, I read a lot about this. They write with medical words that they may not know.
I have very little doubt about this. I think that you saw one that I highlighted recently.
I suspect it's happening far more than people are willing to accept - preferring to turn a blind eye and not have that fight. These things take time - and sometimes it's impossible to prove, particularly with the advances in AI. Often, it's simply the quality of English that gives things away, other times, you just know, but can prove nothing.
So sad😢
😢