In the sun I feel as one 🌞
5 min read

In the sun I feel as one 🌞

B21 Crypto. We help you stomach cryptoassets.

Cryptic ball: just one month ago everyone was afraid.

Two weeks ago we told you to expect a cycling of profits from bitcoin and ether into alts, and last Monday that we're back to UpOnly mode, a meme popularised early in this market cycle that described a period of very few dips and aggressive, FOMO-induced buying. More interestingly, Wednesday we shared a feeling that most cryptoassets would test and conquer their all-time highs this September.

Well, this weekend was so wild that Solana's SOL, a promising project that we referred again Friday (hinting that you should research its ecosystem and various tokens), has already made a new ATH, the first major alt to do so and conquer new levels above last May's euphoria. What's more incredible is that this token, which is in the top 10 by market cap, has appreciated 60% in the past two days. This is normal for shitcoins, but very rare for cryptoassets of this dimension!

What happened? As explained, bitcoin and ether continue trading sideways, which is great for speculative traders looking for the next big thing. And, as also written about this May, everyone wants to find the next Ethereum killer. So, it was only necessary to combine the current back-to-school bullish vibe with some positive announcements - a new bridge between Ethereum and Solana, as well as a new NFTs project which exposed thousands to practically free transfers to mint their new profile pictures. But what do you if you missed the train? Read along!

Chart art: just two months ago SOL was $20.

If you were exposed to SOL consider letting this winning trade run instead of taking profits right now. You can do this by using trailing stops or even simple stop orders. Alternatively, you can just sell small chunks of your position and lock partial profits along the way.

Market musings: just three months ago hype was the same.

If you've missed the craze, look out for some volatility with SOL over the next days and a retest of $56, the previous ATH. Long-term, solid projects will slowly rise. Alas, even dogecoin and SHIBA are pumping again, so all remains possible. But be mindful you need to stomach some potential losses if you buy a local top. That's why most people tend to feel more comfortable buying into assets which haven't pumped yet, so consider that if you feel you should resist the FOMO.

If you need ideas, you can learn more about this blockchain and the many projects being developed there, as it's also common for their tokens to pump after their mother chain does (and vice-versa, remember STEP?). Meanwhile, note total crypto market cap is back above $2 trillion, a first since May. More importantly, the market was only above this level for roughly 35 days ever! What does it mean?

It's very simple. Things are already wild, but will get wilder once all coins start testing new all-time highs, which may even happen by the end of August. Keep looking for coins which seem like they want to catch-up with these initial pumps (check out ADA and LUNA as a research tip). Lastly, maintain an eye on bitcoin and ether, as if they dip alts will likely dip too, and when they pump you can expect alts to take a break for a little while. It's all a simple dance!

Visual block: just four months ago Coinbase was IPOing.

The hype around Coinbase IPO could have led many bitcoiners to sell their stacks, which was then compounded by Vitalik crashing Shiba and the meme token mania. One way or another, it's clear Coinbase stock follows bitcoin's price and that's good to help you trading.

Three things: just five months ago regulators were cooler.

Tweet tip: just six months ago NFTs were still scarce.

This is another high-probability possibility you should consider in case you're speculating with Non-Fungible Tokens.

Meme moment: just seven months ago doge was <$0.1.

You won't profit if you won't learn.

New token on the B21 app: who let the doge out.

Dogecoin is coming soon to our app. Stay tuned!

Get started: download the B21 Crypto app!

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Legal Notice
Our newsletter offers opinions and insights from analysts in the cryptoasset space. It is not intended to be investment advice, and should not be treated as such. You must not rely on its information as an alternative to financial advice from a qualified professional. Without prejudice, we do not undertake or guarantee that its information is correct, complete or non-misleading; or that the use of guidance in the report will lead to any particular outcome or result.