Crypto news & updates going into the weekend week 2
מעודכן
This weeks main event was clearly Elon's Tweet dropping the Bitcoin price!
BTC
Who will be the next Tesla darling? Everyone is trying to woo Elon Musk after he dropped Bitcoin?
Elon Musk once again rocked the crypto world, but this time instead of shilling Doge, the Technoking of Tesla dropped a bombshell that Tesla would no longer accept Bitcoin payments for cars and that they are “looking at other cryptocurrencies that use <1% of Bitcoin’s energy/transaction.” Almost immediately the crypto market lost $365 billion in value as people sold across the board. Now almost every project is clamoring for Musk’s attention as though the Imperator of Mars is holding a ball to select a new bride. But who will be his Cinderella?
Source; crypto-news-flash.com/who-will-be-the-next-tesla-darling/
Linked closely to Mr Musk - Doge Coin;
How Elon Musk Crashing Bitcoin To Grow Dogecoin Is A Silly Move...
Many cryptocurrencies are now showing off their “greenness” to a passing Elon Musk.
Only two things are clear for the moment:
1) No other cryptocurrency comes close to the energy use of Bitcoin, and:
2) Whatever other coins Elon may be interested in, they are now on sale!
Doge leaps as BTC retreats - reuters.com/technology/dogecoin-pops-after-musk-tweets-about-promising-system-improvements-2021-05-13/
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Cardano (ADA)
Bitcoin plummeted nearly $9,700 in the two hours following Musk's tweet – a drop of about 17%. Most other cryptocurrencies, as they usually do, fell along with Bitcoin.
But not Cardano (ADA) – after a brief drop, it reversed course and started powering toward an all-time high.
Why the Cardano Price Hit a Record High
Although Musk did not mention Cardano in his tweet, he did drop an intriguing hint that immediately sent crypto Twitter sleuthing.
"We are also looking at other cryptocurrencies that use <1% of Bitcoin's energy/transaction," Musk said.
It didn't take long for people to guess that Cardano could very well be at the top of Tesla's list.
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XRP
Starting to see a theme here;
Elon Musk handed Ripple the best ad campaign for XRP: Crypto Attorney...
One crypto enthusiast, and a renowned attorney, believes this is the best ad campaign Elon could have handed to Ripple and XRP, and it was on a silver platter.
Source; crypto-news-flash.com/elon-musk-handed-ripple-the-best-ad-campaign-for-xrp-crypto-attorney/
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TRX - Tron
Nothing major to report here. Can be seen in the price action - pretty sideways.
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THETA
Similar again for this one;
The Theta price declined today as investors continued to worry about high-interest rates and the decision by Elon Musk to stop Bitcoin payments. THETA is trading at $9.6835, which is about 40% below its year-to-date high of $15.88.
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XML
BORING This week.
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BTT
5% + rise today Price Change 24h $0.0003166 5.36%
Anticipating a rise here.
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ETH
Ethereum Drops 9%. Is This a Buying Opportunity?
Source; fool.com/the-ascent/buying-stocks/articles/ethereum-drops-9-is-this-a-buying-opportunity/
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LTC
Corrections over the last 24 hours notwithstanding, Litecoin, the silver to Bitcoin’s gold, has been consolidating its position in investors’ portfolios for quite some time now.
After oscillating in the $40 to $60 price bracket for a few months in 2020, Litecoin managed to break its monotonous trend and gradually picked up momentum on the back of Bitcoin and Ethereum’s price performances. At the time of writing, the alt was trading around the $330-mark.
"Van de Poppe further asserted that once LTC breaks past its previous ATH, its upward trajectory would be “pretty phenomenal.” He also pointed out,
“ETH has broken from its old ATH and has rallied roughly 156 percent. If we do the same simplistic math and extrapolate this rally for LTC in the future, then we’re going to get closer to a $900 Litecoin.”"
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As per usual - have a great weekend and for further & advanced education - Discord in the Signature below;
Disclaimer
This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
BTC
Who will be the next Tesla darling? Everyone is trying to woo Elon Musk after he dropped Bitcoin?
Elon Musk once again rocked the crypto world, but this time instead of shilling Doge, the Technoking of Tesla dropped a bombshell that Tesla would no longer accept Bitcoin payments for cars and that they are “looking at other cryptocurrencies that use <1% of Bitcoin’s energy/transaction.” Almost immediately the crypto market lost $365 billion in value as people sold across the board. Now almost every project is clamoring for Musk’s attention as though the Imperator of Mars is holding a ball to select a new bride. But who will be his Cinderella?
Source; crypto-news-flash.com/who-will-be-the-next-tesla-darling/
Linked closely to Mr Musk - Doge Coin;
How Elon Musk Crashing Bitcoin To Grow Dogecoin Is A Silly Move...
Many cryptocurrencies are now showing off their “greenness” to a passing Elon Musk.
Only two things are clear for the moment:
1) No other cryptocurrency comes close to the energy use of Bitcoin, and:
2) Whatever other coins Elon may be interested in, they are now on sale!
Doge leaps as BTC retreats - reuters.com/technology/dogecoin-pops-after-musk-tweets-about-promising-system-improvements-2021-05-13/
===================================================================================================================================
Cardano (ADA)
Bitcoin plummeted nearly $9,700 in the two hours following Musk's tweet – a drop of about 17%. Most other cryptocurrencies, as they usually do, fell along with Bitcoin.
But not Cardano (ADA) – after a brief drop, it reversed course and started powering toward an all-time high.
Why the Cardano Price Hit a Record High
Although Musk did not mention Cardano in his tweet, he did drop an intriguing hint that immediately sent crypto Twitter sleuthing.
"We are also looking at other cryptocurrencies that use <1% of Bitcoin's energy/transaction," Musk said.
It didn't take long for people to guess that Cardano could very well be at the top of Tesla's list.
==================================================================================================================================
XRP
Starting to see a theme here;
Elon Musk handed Ripple the best ad campaign for XRP: Crypto Attorney...
One crypto enthusiast, and a renowned attorney, believes this is the best ad campaign Elon could have handed to Ripple and XRP, and it was on a silver platter.
Source; crypto-news-flash.com/elon-musk-handed-ripple-the-best-ad-campaign-for-xrp-crypto-attorney/
==================================================================================================================================
TRX - Tron
Nothing major to report here. Can be seen in the price action - pretty sideways.
===================================================================================================================================
THETA
Similar again for this one;
The Theta price declined today as investors continued to worry about high-interest rates and the decision by Elon Musk to stop Bitcoin payments. THETA is trading at $9.6835, which is about 40% below its year-to-date high of $15.88.
=================================================================================================================================
XML
BORING This week.
==================================================================================================================================
BTT
5% + rise today Price Change 24h $0.0003166 5.36%
Anticipating a rise here.
=================================================================================================================================
ETH
Ethereum Drops 9%. Is This a Buying Opportunity?
Source; fool.com/the-ascent/buying-stocks/articles/ethereum-drops-9-is-this-a-buying-opportunity/
================================================================================================================================
LTC
Corrections over the last 24 hours notwithstanding, Litecoin, the silver to Bitcoin’s gold, has been consolidating its position in investors’ portfolios for quite some time now.
After oscillating in the $40 to $60 price bracket for a few months in 2020, Litecoin managed to break its monotonous trend and gradually picked up momentum on the back of Bitcoin and Ethereum’s price performances. At the time of writing, the alt was trading around the $330-mark.
"Van de Poppe further asserted that once LTC breaks past its previous ATH, its upward trajectory would be “pretty phenomenal.” He also pointed out,
“ETH has broken from its old ATH and has rallied roughly 156 percent. If we do the same simplistic math and extrapolate this rally for LTC in the future, then we’re going to get closer to a $900 Litecoin.”"
--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
As per usual - have a great weekend and for further & advanced education - Discord in the Signature below;
Disclaimer
This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
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