The Trader Top 9: Mixed Signals, TikTok Dogecoin, and Ethereum
Cove
07/09/2020 11:55

Welcome back to the Trader Top 9. It is a wild and confusing week out there, so let’s dive in.

9. First, there are some pretty mixed market signals going on. Some think it’s mania - and others point to continued issues around jobs

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8. Speaking of market signals, here are some stats suggesting creeping inflation

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7. Bitcoin is also experiencing some mixed signals. On the one hand, we’re seeing low volatility and still pretty anemic search sentiment.

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6. On the other, some of the FinTwit big fish are looking for a breakout

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5. Which way it goes might be in part shaped by a question we perhaps don’t ask enough: how BTC performs in the context of FX volatility?

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4. Still, a lot of the focus right now is in the Ethereum and DeFi space

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3. This absurd move by Doge - sparked by TikTok! - up 35% in price and 2000% in volatility - isn’t the alt season that people were expecting, but is wild nonetheless.

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2. One much more real signal is growth in Chinese stocks and the potential implications for crypto activity.

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1. Whatever the case, and whether we’re poised for an Ethereum rally, a Bitcoin breakout, or something else entirely, this anecdote about not trading with emotion is timeless.

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About CoveTrader

CoveTrader by Cove Markets is a platform for active traders of bitcoin and other cryptocurrencies. The crypto market is highly fragmented with dozens of exchanges and limited availability of trading tools. CoveTrader ties the market together in one powerful and transparent trading and analytics platform.

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