Bitcoin Price Move Soon?
The crypto market remains choppy, with BTC ranging between $37,000 and $42,500 in the past week. The price action is converging into a tight triangle; we are likely to see a volatile move to the upside or the downside. Most altcoins are more than 80% to 95% below their all-time highs, with some like Terra Luna showing strength in the wake of the bearish price action and sentiment, outperforming the market with a 30% pump. The Terra pump to recent all-time highs came in the wake of the news that Terraform Labs — the creators of the terra blockchain — have donated about $1.1 billion to the ecosystem’s reserves. With this pump, Terra’s new and sleek DEX — Astroport ($ASTRO) — also made a new all-time high of $2.18. Another Terra ecosystem project to watch is Mars Protocol ($MARS) — a fully automated, on-chain credit protocol. While not financial advice, these two projects could perform very well in the short and long term — they are both early movers in the ecosystem.
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