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Home»ALTCOIN NEWS»ðŸ”¥ Altcoin Weekly Report – Bitcoin plummets to $8,900
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🔥 Altcoin Weekly Report – Bitcoin plummets to $8,900

By Crypto FlexsApril 1, 20247 Mins Read
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🔥 Altcoin Weekly Report – Bitcoin plummets to ,900
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read:

If you own cryptocurrency, you should read this:

Earlier this week Bitcoin Plunged to $8,900.

In this week’s newsletter, we’ll explain in detail what happened, how it happened, and how to protect yourself from this type of market manipulation in the future.

Bitcoin plummets to $8,900 (on BitMEX)

Bitcoin plummets to $8,900 (on BitMEX)

On Monday, Bitcoin experienced a brief but dramatic drop of $8,900 on BitMEX due to massive sell orders totaling $55.49 million. This flash crash was short-lived and the price quickly recovered to $67,000.

Flash crashes don’t happen often, but they do happen.

But this flash crash wasn’t caused by technical difficulties or a poor exit strategy. This flash crash was pure market manipulation.

As a cryptocurrency investor, it is important to know that market manipulation occurs on a large scale within the cryptocurrency space. Market manipulation most often affects small capital projects, but as we just saw, it can also happen in Bitcoin.

Although these types of sudden crashes last only a few seconds, news and headlines often unnecessarily stoke market fears.

What happened and how can you protect yourself (or even benefit from it in the future)?

Flash Crash - What Happened?  |  AltcoinInvestor.com

Flash crash market manipulation

This type of market manipulation is often orchestrated by numerous whales who decide to dump large amounts of Bitcoin on smaller exchanges.

This caused exchange markets to collapse, allowing whales to repurchase Bitcoin at much lower prices.

They dump Bitcoin, overwhelming smaller exchanges, drawing liquidity and driving prices down.

A price drop triggers a domino effect where people with stop losses (selling orders to avoid losing too much) sell their positions. If the price continues to fall from $60,000 to $50,000 to $40,000, additional stop losses are incurred to push the price even lower, all within a fraction of a second.

The same whales (and their friends) who crashed the market by pouring their Bitcoin into it will also place buy orders at $30,000, $40,000, and $50,000, automatically purchasing new Bitcoin at a huge discount.

Unfortunately, when a flash crash occurs on one exchange, this tends to cause a bit of a ripple effect, causing the price to cascade across all other Bitcoin exchanges.

How to protect yourself:

The best way to protect yourself from this type of market manipulation is to not use open stop loss orders. Better yet, don’t store your cryptocurrencies on an exchange, but store them in a cold storage device such as a hardware wallet.

Conversely, if you want to profit from this market manipulation, you can always place an open buy order at a much lower price to secure your flash cash if this happens again.

Alternatively, adopting a ‘buy and hold strategy’ when investing in long-term, fundamentally sound cryptocurrency projects is a strategy supported by Altcoin Investor.

It’s simple to purchase and hold. Identify a project, invest, and then wait. This eliminates the stressful and time-consuming need to constantly watch the market or react to every price movement.

If you’d like to know what’s included in our ‘Buy and Hold Strategy’, Consider becoming a member.

4 stages of cryptocurrency market |  AltcoinInvestor.com
4 stages of cryptocurrency market

Join us – as we prepare to become crypto-ready.

The price of Bitcoin has now surpassed $65,000. While this may sound like a lot of money for a single Bitcoin, we believe this is just the beginning of what will be one of the biggest growth opportunities the cryptocurrency space has seen in at least the last four years.

If you haven’t yet started diversifying your portfolio with cryptocurrencies, it’s not too late. Now is a great time to enter the market while prices are relatively low.

If you want to know what we’re buying, please join us through our monthly shares. Altcoin Recommendation Looking forward to the upcoming Bull Run – Become a member to access.

Richard.


Top 100 Popular Altcoins

Top Trending Cryptocurrencies and Altcoins - Last 7 Days CryptoBubbles |  AltcoinInvestor.com
CryptoBubbles.net – Last 7 days

The cryptocurrency market has been in the red for two weeks in a row.


Today’s Crypto Fear and Greed Index

Cryptocurrency Fear and Greed Index |  AltcoinInvestor.com
Cryptocurrency Fear and Greed Index

Today’s Cryptocurrency Fear and Greed Index = avarice –> Decreased to 75 (from 81 last week).


Bitcoin and Ethereum price changes

Bitcoin and Ethereum price charts for the past 24, 7, 30 and 60 days |  AltcoinInvestor.com

Bitcoin Diminish 3.5% Here are the prices it is currently trading at last week: $65,601. Over the past 90 days, Bitcoin has increased by: 65.3%.

Ethereum Diminish 6.9% Here are the prices it is currently trading at last week: $3,373. Over the past 90 days, Ethereum has increased by: 52.4%.

Global cryptocurrency market capitalization decreased to $2.49T (From $2.55T last week).

Top 100 altcoin cryptocurrency risers (last 7 days) |  AltcoinInvestor.com

Top 100 Gainers – Last 7 Days

The biggest gainers over the past 7 days (in the top 100) are:

Top 100 Cryptocurrencies Altcoin Gains (Last 7th) |  AltcoinInvestor.com

Ondo (ONDO) +46% – Ranked #92

Ondo Finance (ONDO) It is a DeFi project that aims to integrate decentralized and traditional finance by providing structured financial products and liquidity solutions. Aiming to make DeFi services accessible to more people, we cater to different risk appetites with high-risk/high-return and low-risk/stable-return options. Ondo seeks to bring Wall Street-like financial sophistication to blockchain to offer a variety of services such as asset management and monetization.

Phantom (FTM) +40.7% – 41st

Phantom (FTM) A blockchain platform that stands out for its unique approach to scalability and efficiency using a custom consensus mechanism called Lachesis and a Directed Acyclic Graph (DAG) structure. This setup allows for near-instant transaction confirmation and high throughput, making Fantom an attractive option for developers and users looking for fast, secure, and low-cost transactions. It supports smart contracts and is compatible with the Ethereum Virtual Machine (EVM), making it easy to port Ethereum dApps and foster a growing application ecosystem across a variety of sectors.

STX +23.2% – 25th

Stack (STX) is a unique cryptocurrency project designed to bring smart contracts and decentralized applications (dApps) to Bitcoin. Bitcoin itself lacks these features due to its original design focusing on security and simplicity. Stacks operates on the principle of enabling more complex operations and features based on Bitcoin’s secure and proven blockchain without changing its core. It introduces a new consensus mechanism that leverages Bitcoin’s security by anchoring it to the blockchain, allowing developers to create dApps and smart contracts that inherit Bitcoin’s strong security features while offering more diversity. The stack represents an important step in improving Bitcoin’s usefulness, making Bitcoin not only a store of value, but also a foundational layer for building a broader, more functional decentralized internet.

💡

Stack (STX) It was an Altcoin Pick for February 2023. It’s up +340% since then and still has a lot of growth potential. Stack is a solid long-term project.

Sui (SUI) +22.8% – Ranked #98

Sui (SUI) A cutting-edge blockchain platform developed by Mysten Labs that aims to revolutionize the way decentralized applications (dApps) are built and interact. It differentiates itself through high scalability, fast transaction processing, and an innovative object-centric approach, enabling more efficient and flexible management of blockchain assets.

With its unique consensus mechanism and developer-friendly tools, Sui is designed to solve common blockchain challenges such as scalability and user experience. This platform represents a promising development in the blockchain sector, potentially supporting a wide range of applications requiring high performance, from gaming to financial services.


Small Cap, Micro-Cap and Nano Cap Market Cap Altcoins (Small Cap Cryptos) |  AltcoinInvestor.com

Biggest microcap gain in last 30 days

We review and analyze small and micro market cap cryptocurrencies every week to find out: low cap jewelry. This provides the best performance (quality). microcap project In the past 30 days:

Best performing quality microcap and nanocap market capitalization |  AltcoinInvestor.com

Highest performing quality micro cap (last 30 days)

Meme coins are trending in 2024 |  AltcoinInvestor.com

Meme Coins:

Meme Coin is a cryptocurrency inspired by internet memes, humor, and online communities. Overall, the meme coin sector continued to perform well this week.

But while these projects may be fun and novel, most meme coins have no intrinsic value and often suffer from pump-and-dump schemes. Although we do not recommend investing in these types of coins, it is always interesting to watch this sector perform during bull markets.

Meme Coins with the Best Performance

Even in this bearish market, Meme Coin continues to soar. Taylor Swift’s Cat also won the award this week, with the biggest increase of more than four times.3,150% in the last 30 days.

15 Cryptocurrency Scams You *Must* Avoid in 2024

We cover the most important cryptocurrency and blockchain scams to avoid this year.


Altcoin Selection for March 2024 |  AltcoinInvestor.com

Monthly Altcoin Selection

We will be releasing our April altcoin picks in two weeks.

To access this monthly Altcoin recommendation and future monthly Altcoin recommendations, consider the following: become a member – It only costs the cost of a few cups of coffee a month.

Altcoin recommendations are emailed to members as soon as they are posted. Wondering how to choose your monthly Altcoin picks? methodology we use.

Altcoin Recommendations for Previous Months You can find it here.

We express our gratitude and respect to all members!

Until next report,

Richard.

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