Dogecoin explodes 1,100% – the beginning of a full-blown altcoin season?

Dogecoin (DOGE) saw one of the fastest bull runs in cryptocurrency market history, rising more than 1,100 percent in just two days when a Reddit group called „SatoshiStreetBets“ called on ordinary traders to buy the meme-based token.

So much doge, so much wow!

The frenzied trading catapulted the market valuation of Crypto Bank to around 9.5 billion dollars, making it the seventh largest cryptocurrency in the world by capitalization. Prices have soared so quickly that the „Dogecoin“ keyword started trending on Twitter and topped Google Trends on a weekly timeframe.

Even Binance, a cryptocurrency exchange with a global presence, became the 11th-highest daily search trend on Google Trends after listing the pairs DOGE / EUR and DOGE / TRY.

In mimicking the same hysteria sparked by Reddit group „/ r / WallStreetBets“, users on „/ r / SatoshiStreetBets“ advertised Dogecoin in an attempt to generate explosive profits for GameStop, BlackBerry, Bed Bath & Beyond, AMC and to copy other heavily shorted stocks.

Twitter users have also called on Tesla founder Elon Musk to tweet about Dogecoin to accelerate the surge.

Musk previously tweeted „Gamestonks,“ which helped GameStop shares rally more than 150 percent in one day. He has openly endorsed Dogecoin in many of his previous tweets, though it’s hard to tell if he was being sarcastic given the nature of DOGE as a joke token.

Will the crash follow again?

Dogecoin’s recent rally was reminiscent of a similar bull run last year, where a viral TikTik video drove the price up 35 percent in two days. It later fell more than 60 percent due to profit-taking among traders.

Technically, DOGE / USD is now pointing to a fractal repeat.

Dogecoin’s relative strength indicator, a momentum oscillator that measures the speed and change in an asset’s price movement, warned of severely overbought levels. That meant a deeper downward correction in upcoming sessions, making it riskier for traders to take new long positions near current highs.

Dogecoin is up more than 1,100 percent in just two days. Source: DOGEUSD on TradingView.com
DOGE / USD corrected roughly 20 percent from its intraday high of $ 0.038 prior to the opening of the European trading session. Volumes also fell, raising doubts about the continuation of the rally in upcoming sessions.

Independent market analyst Luke Martin comments on ongoing capital outflows from Dogecoin to neighboring altcoins , beginning with Ripple’s XRP ( How to Buy Ripple ), a controversial cryptocurrency that has been faced with allegations by the Securities and Exchange Commission of illegal securities sales.

„It pains me to say this …. it really does … but it looks like the hot ball of money that DOGE pumped has started moving in XRP. XRP is up 20% in the last 2 hours while the rest of the market is flat. „

Bitcoin is collapsing, fed up with getting tricked? The solution for profitable crypto-trading

Some days are more painful than others. A correction of around 20% for the market as a whole was foreseeable, but we would have appreciated it more gently. The volatility of assets without “real intrinsic values” is likely to make the headlines of the mainstream media, and it is fair game. Few will be able to predict whether the correction is still in its early stages. However, here are the tools that will help you prepare for the future.

This article is written in collaboration with Trading du Coin

The cryptocurrency market is currently the center of attention. The successive records that Crypto Engine has recorded in recent weeks have led the queen of cryptocurrencies beyond $ 40,000. This is an increase of + 200% over the last month only , which has just crumbled abruptly this morning.

Well aware that this new Bullrun was largely driven by an influx of institutional liquidity , many individuals have joined the battlefield and are completely annihilated by this correction. Indeed, trading platforms abound on the web, but do not offer any support worthy of the name.

Become an active crypto trader

Trading is not an activity that can be improvised . It consists of setting up a subtle ploy that will allow you to profit from a volatile market. The goal is to extract the maximum profit while reducing the risks to which you expose yourself.

This reality may seem superfluous to new investors

However, this morning’s episode serves as a reminder. The crypto market is not just a straight line into Valhalla , and the corrections that occur there are painful to say the least.

L’economista prevede che Bitcoin raggiungerà $ 1 milione entro il 2030

Il capo economista della Hamburg Commercial Bank Cyrus de la Rubia ha previsto un obiettivo di prezzo per Bitcoin per $ 1 milione, aggiungendo che la previsione si basa sul modello elettrico.

Il capo economista della Hamburg Commercial Bank, Cyrus de la Rubia, ha affermato che il prezzo del Bitcoin System raggiungerà $ 1 milione entro il 2030. L’economista ha detto di essere arrivato a questa cifra utilizzando il modello elettrico.

Egli ha detto:

“Nel momento in cui questi altri beni ad alta intensità energetica, ad esempio acciaio o alluminio, sono più richiesti rispetto a unità aggiuntive della criptovaluta, l’attrattiva relativa del Bitcoin diminuisce. Quindi viene raggiunto il limite di prezzo superiore. “

Il mese scorso, il CEO di Global Macro Investor Raoul Pal ha anche previsto che il prezzo di BTC avrebbe raggiunto il milione di dollari. Per quanto riguarda Pal, Bitcoin salirà di 1 milione di dollari entro il 2026. Durante un’intervista del 20 dicembre, il CEO ha affermato che la sua previsione dei prezzi si basa sul modello stock-to-flow. Pal ha affermato che il creatore del modello stock-to-flow, Plan B, spiega il modello e semplifica l’analisi dell’effetto dell’offerta sul prezzo. Pal ha anche aggiunto che BTC raggiungere $ 1 milione entro il 2026 „non è irragionevole“.

Nel 2020, Bitcoin ha attratto diversi investitori individuali e istituzionali

Il prezzo di BTC ha guadagnato oltre il 3000% durante l’anno e nuovi massimi in diverse metriche. L’impennata del prezzo di Bitcoin nel 2020 è stata alimentata da vari fattori, tra cui l’annuncio di PayPal di consentire pagamenti crittografici sulla sua piattaforma. A ottobre, PayPal ha dichiarato che i suoi 346 milioni di utenti possono ora acquistare e vendere BTC e altre tre risorse digitali utilizzando i propri conti PayPal.

BlackRock, the world’s largest manager wants to invest in Bitcoin and Ethereum

Company published job vacancy that suggests investment in digital currency

BlackRock, the world’s largest investment manager, with about $8 trillion in assets under management, is looking for a „Blockchain Lead“ in its investment division in New York.

The requirement in blockchain is required to evaluate cryptomaps, instead of blockchain technology, with the company stating:

„It should have 1 year of experience in: articulating the technological foundations of blockchain technology, including cryptographic hash functions, distributed network consensus mechanisms and public-private key cryptography; elaborating and articulating fundamental evaluation methodologies for cryptoactives; decentralizing governance models associated with blockchain technology; and working with the main drivers of blockchain network design and its impact on the four key dimensions of blockchain performance, including speed, scalability, privacy and security. Alternatively, BlackRock will accept a bachelor’s degree or equivalent in one of the above fields and 6 years of experience in the skills listed above“.

The company is looking for a person who knows the difference between Working Proof (PoW) and Participation Proof (PoS), as well as the difference between Ethereum’s PoS and Tezos‘.

As well as someone who can elaborate and articulate „fundamental evaluation methodologies for cryptoactives“, which means they know that there can be a relationship between price and transactions or exchange entry and exit fees.

In short, the investment giant is looking for an investment manager in crypto, suggesting that the world’s largest investment company is apparently ready to invest in digital currency.

BlackRock presents itself as a company that „invests on behalf of clients, from large institutions to parents and grandparents, doctors and teachers who entrust their savings to us.

Many of its smaller clients have diversified into crypto currency after numerous studies concluding that Bitcoin, in particular, increases the risk of adjusted return on investment portfolios.

BlackRock’s own CEO, Laurence Fink, recently suggested that Bitcoin can rival the dollar as a reserve currency, while also stating that there is significant interest in the digital currency.

The company considered investing in Bitcoin in 2018, but the timing does not appear to have been ideal due to the then bear market.

This year, Bitcoin is up, trading above $27,000 at the time of writing, a high that follows a trend of institutional investors and some companies diversifying investments and betting on Bitcoin and Ethereum.