Fear of Loss of Profit (FOMO) forces investors to choose cryptocurrencies with smaller capitalization but larger capitalizationpotential for explosive growth. This is especially acute in the context of the general rise of the market. This week market capitalization is up 8%, Bitcoin up 13% and SHIB 300%!
Image Source: Cryptocurrency ExchangeStormGain
Positively influenced the dynamics of cryptocurrenciesStatement by Fed Chairman Jerome Powell about the regulator's unwillingness to ban cryptocurrencies. This has reassured large investors who are re-interested in Bitcoin as insurance against inflation, analysts from JPMorgan wrote about this in a note on Thursday. As confirmation of this conclusion, on October 6, it became known that the second most successful hedge fund in the world - the Soros fund - invested in Bitcoin. Beginning in 2020 (when the Fed launched the printing press), institutional investors began to outweigh the retail sector.
Image source: BofA Global Research
And if big business prefersBitcoin, traders and small investors are looking for small coins that can show explosive growth in a short distance. This time again, it was not without Elon Musk, who on Monday published a photo of a Shiba Inu puppy in the trunk of a Tesla.
Image source: twitter.com/elonmusk
Was this pump organized for selfish purposes?not known for certain. Analysis by Kaiko shows that on October 4, volumes increased on all cryptocurrency exchanges - this indicates demand from a wide audience.
Image source: newsvot.com
But a few days before the tweet, on September 30, the Santiment company registered the purchase of 6 trillion SHIB by the whale with a total value of $ 44,000. Now they cost $ 282,000.
Image source: santiment.net
Meme cryptocurrencies remain at their peak of popularity and are showing growth significantly above the market. But, succumbing to FOMO, be careful not to become plankton!
Analytical group StormGain
(platform for trading, exchanging and storing cryptocurrency)
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