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Crypto Update 2nd July

With Bitcoin (BTC) dropping below $10,000 at one point, most tweeters today want the experts to tell them what to do next. Here’s a look at the highlights.


An account called @Tony88981 said that Bitcoin has reached his initial “best-case scenario” of $9,800, adding that the worst-case scenario would be if it dropped further. At press time, it was trading somewhat higher at $10,115.


Here an account called @tyjj889 clearly marked the distinction between the two groups currently dominating Twitter discussions on Bitcoin. He said he was waiting for the uptrend to end, and it did. Even if it dropped to $7,000, he said he would simply buy more. The other group is characterised by tweeters such as @GG33______, who declared this the arrival of altseason.


Among all the tweeters who wanted to know whether they should buy or sell BTC right now, @ERcrypto74 tweeted that apparently, nobody noticed that we are in the heart of a new downtrend. @CredibleCrypto replied that it was only a short-term downtrend and that the longer-term uptrend remained intact.


Tweeting about ChainLink (LINK) earlier, the channel owner said that after the latest 10% breakout, the cryptocurrency has “transitioned into this black channel” where it will have to break its top to reach new highs again.


Here a handle called @RyanXander3 had what is perhaps the best advice in the current market situation: “Everyone’s an expert until they are not. Absolutely anything can happen in this market. Don’t be set in any one direction.”


The chatter here switched from @Bitcoin to which altcoin would be the best option at this stage. An account called @WonkaPhilly tweeted that Lition (LIT) was “going crazy” although it remained fairly unknown. He added: “While the rest of my wallet is bleeding out, $litin itself is keeping it in the green. +116% in one week.”

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