Bitcoin broke $8800 today. Market remains bullish but be cautious of some dumps/profit taking events
So, Bitcoin broke $8800 before it went down to around $8700 level. This week has been interesting with some altcoins rose higher than bitcoin itself. LTC, BTT, BSV, and BNB were some of the highest gainers. As expected, market looks bullish and optimism in the market is still very high.
So, what next? Well, in my opinion we might face some serious pull back to around $8000-$8500 mark. However, knowing the market is quite bullish, we might actually break higher to $10K before we go down. If you want to have tighter risk management, you should sell to stablecoin, wait for some pull back, and buy BTC again when price goes to $8000-8500 level. Personally, I remain bullish with my HODL strategy. Let’s see where it goes
How about Binance IEO? It remains one of the biggest spotlights. Ticket claim for Harmony IEO is tomorrow (27 May) and personally I think we might see some pumps on the first day of Harmony’s launch on Binance exchange. I believe Harmony might mirror what happened to MATIC. FYI, Matic price rose 10x before people dumped the token. And even now, nobody knows if people will pump MATIC again after the recent dump.
Anyway, if you are lucky with Harmony ticket claim on Binance launchpad, I think you should hodl until price rise at least 8-10x of IEO price. However, if you plan to buy some Harmony token on the day of its launch on Binance, be careful. It might dump after the first day (although, once again, I believe it will actually pump considering the optimism in the market).
Personally, my strategy is to buy Harmony token if price doesn’t go too high (100% above IEO price is still an acceptable entry point). I’m excited! Let’s see..
Altcoins To Watch Out
Looks like the whales are not shy from investing in altcoins anymore. Despite you should still hodl some bitcoin in your portfolio, I believe it’s actually a good idea to hold more altcoins than in bitcoins (or just go 50-50 if you are still not sure). I think EOS and LTC will have great future in the next 1-2 months.
EOS because of this news https://www.bitrates.com/news/p/eos-has-big-plans-for-june-what-will-blockone-announce and litecoin because of their next halvening that will take place in August: https://www.litecoinblockhalf.com/
I’m also fairly optimistic about FSN (Fusion) because they plan to launch their mainnet at the end of Q2, supposedly end of June. Be careful when you trade less popular altcoins though because they might announce some unpredictable news, i.e. mainnet delay.
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