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The crypto market continues to have very interesting days and this long weekend in the U.S. stock market has allowed the slight upside improvement from the last close to be reflected in the price of several cryptocurrencies.
We have seen Bitcoin leave $28,000 and hit $32,000 to bounce and hold at $31,500 at the time of writing this post.
We have an interesting move in Ethereum which has turned support at $1920 after breaking through that resistance and briefly breaking above $2,000 yesterday. It adds to the group of good news expected heading into August if the merger is successfully completed. But it's not all good news as speculation of a big sell-off in Ethereum follows recent moves on May 30, Ether management reportedly associated with Three Arrow Capital - a Singapore-based cryptocurrency hedge fund - sent 32,000 ETH worth USD60 million to the FTX cryptocurrency exchange in a span of one hour, on-chain data shows.
This week has also been a busy one in the LUNA environment with the launch and price fluctuation of the new Terra 2.0 project. A project that continues to show signs of distrust for novice investors in my personal opinion.
It remains to be seen how this week evolves with the reopening of the stock market today, as this year has not even reached the halfway point and sharp falls are still expected.
It's clear that these are just a few bits of information and we can only continue to be very aware of everything that happens in the coming weeks as Bitcoin comes from 9 weeks in a row closing in negative (for the first time in its history) and we are in a situation where we depend on many macroeconomic factors (the end or increase of attacks of the war in Ukraine, the control of new outbreaks of COVID, curb the rise of inflation and reduce it, improve employability, etc..) to completely reverse the bear market and enter a new bull cycle.
All I'm going to continue to do is stay informed, buy as much as I can (NO, I'm not telling you to put all your savings into Bitcoin, i only invest 10% of my savings) and keep HODLING.
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Do not forget to follow all my advice if you want to lose your wife because you have put the rent money in "coins that are worth cents but can be worth thousands of dollars"