My weekly routine is to research the cryptocurrency market for coins which I think are showing good FA indicators and last week I decided to create my first public post on Publish0x on my ‘coins of the week to monitor’
Now I am not a day trader but I will look for opportunities where I think it will result in a positive yield.
Here is my article for last week's coin to monitor last week which covers my reasoning for investing in these coins - Crypto Coins to monitor this week - W/C 20th April 2020
WEEK SUMMARY
So how did the coins of the course of the week.
It was a good week for all three coins which are sitting in the green across a weekly chart. Now what I have noticed during these unpredicent times of the ‘C’ word, cryptocurrency have been trending similar to traditional markets with Dow Jones, S&P and also the FTSE100 with cryptocurrency slightly out performing traditional markets.
Does this mean the cryptocurrency is maturing? I don’t think that is the case but investors / traders are just being more cautious.
We saw Bitcoin break a couple of days into the week and we can see this correlated with other coins on the above graph. Just over two weeks till the halving and I think this upcoming week will be interesting…. I have no idea if we will see another positive breakout or we will see a downtrend.
Ethererum has been steadily increasing over the course of the week as progress details about ETH 2.0 have been published. This is something the crypto community is enthusiastic about and probably the second more interesting date in the cryptocurrency diary.
Matic was the best performing coin out the three with it increasing 15% over the course of the week. Investors and traders are showing positive sentiment to Matic with the mainnet on course to be released next month.
So overall a good week and hope this information has been beneficial. It shows you don’t need to know TA to be yield short term benefits.
Please follow me for more coins to look out for in the future.
Legal disclaimer: This is my personal opinion based on the research I have conducted, this is not professional financial investment advice, please conduct your own research before investing.
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ETH: 0x13Fd2a32441b1F7C0630E9bC948fd785C2366D4d
