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Crypto Update 11th July

With everyone waiting to see whether Bitcoin (BTC) will recover from its latest dip, an increasing number of traders are asking questions about other digital currencies. Here’s a summary of the latest conversations on Twitter.


The Cryptomist shared a tweet announcing that NEO’s (NEO) eco fund has invested in travala.com (AVA). He welcomed the news and added that AVA was definitely a long-term investment.


With Bitcoin having retreated by more than 10 percent since yesterday, there was a lot of speculation in this channel today. Account @CryptoAUM tweeted earlier that there had been a huge drop in Bitcoin short trades, leaving few sellers to punish – so it is likely that the bulls will be punished moving forward.


Referring to Ethereum (ETH), @BlackDiamondRsc tweeted earlier that we should expect a downward three-way move from here, with a possible robust bounce off the base channel. He added: “Could be the trade of the year.”


Rekt Capital confirmed that there has been a sharp drop in Bitcoin shorts since the start of July and that this has now reached an all-time low. A while later, he pointed out that Quant (QNT) has once again survived a successful retest (of a support level) and has now formed a Morning Star reversal candlestick pattern.


With Bitcoin not living up to its promises – at least for today – many tweeters want to know which altcoins would be a good substitute. @SatoshiFlipper tweeted a few hours ago that both REN (REN) and Chainlink (LINK) will become “blue chip” cryptocurrencies in future, adding that both will eventually be part of every trader’s long-term investment portfolio.


Odd Gems posted a picture of Quant’s boss having his picture taken. He boldly predicted that “QNTwill not just melt faces, it will evaporate bodies.” His readers largely agreed with this view.

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