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.
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.