Is this the start of an ALGO a recovery?

By SBenbow | SBenbow | 26 Apr 2021


There has been a decent c. 20% uplift in ALGO today over the past 16 hours (26/04/2021).  The following charts all relate to the ALGO/USDT market.

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I had just recovered my losses from the recent (general) drop in Crypto prices last week, and turned my automated ALGO Crypto bot back on again last night.  It was a nice surprise to see over a 3% return this morning.

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That's why I thought I would check out the market.  My bot had a habit of making a profit, and then buying more Crypto at a high price - and I can't help but interfere.  In the long term the bot would do just as well, but I like to see the trades happening rather than just holding on for days or weeks for a trade to happen.  So I stopped my bot to see what had been happening. 

The recovery?

Starting from "The Dip" last week on 18th April, you can see that ALGO has generally been in a downward trend (c 49% decrease in value at it's low point).  It looks like this low point may have stopped on the 23rd April, and started to slowly climb back again.  It is nowhere near the heady heights of 1.788 that it was on the 17th April, but it has climbed from a low of 0.9130 to 1.2484 today (a 36% increase).

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I am hoping that this is general recovery of ALGO.  I don't have lots of ALGO coins (e.g. worse case is that I could afford to loose them all without worrying about it) but it is nice to see it generally recover.  I like ALGO as a currency to trade in, and also to HODL as it provides APR coin returns as well.

Note : All of my articles are my own work and relate to my own personal experience.  Investing is always at your own risk.

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SBenbow
SBenbow

New to crypto and mining, but wanting to learn more about the market and how it works.


SBenbow
SBenbow

Hi, and thank you for reading my blog. I am a newbie at Crypto. Now that is out of the way I'd like to share what my goals are. They are very basic. 1) Understand what Crypto is and how it works 2) Understand how I can invest without being charged lots of fees to deposit, withdraw, or exchange currencies 3) Understand how volatile the market is, and whether it can be a good short or long term investment Hopefully my experiences will then be able to help other newbies understand more about Crypto!

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