Hey everybody, how are you all feeling on this crazy day in crypto?
Wow, what a week this has been! Only a few days ago we saw the biggest launch since the 2017-18 ICO mania, with The Graph (GRT) launching on Binance and Coinbase simultaneously and doing a 4x in just a few short days despite the massive 165 million market cap at launch. INCREDIBLE!
At the same time we saw a bunch of small caps like Parsiq (PRQ), Maha DAO (MAHA), Alliance block (ALBT), and a few others pull their own 2,3,4x pumps.
Within the last few weeks we also saw some mid-caps like Elrond (EGLD) and SwissBorg (CHSB) make very impressive gains.
And to top it all off Elon Musk himself contributed to the hype by tweeting one of the best crypto memes of 2020.
— Elon Musk (@elonmusk) December 20, 2020
Undoubtedly this was brought on by Bitcoin breaking its all time high of 20k on 16. December 2020 and continuing to pump all the way to 24k.
Not surprisingly, we are currently seeing some profit taking goin on, with red numbers more or less across the board on CoinGecko. Hopefully it’s just a short term correction and we will be back making new all time highs sooner rather than later.
If history is anything to go by, 2021 is looking to be a very hot year for crypto with life-changing, face-melting gains on offer for those brave enough to get involved.
On the other hand, with the crazy turmoil goin on in the world right now and the pump seen in the stock market during 2020, we could also see a bigger correction back to more reasonable levels.
As always, we are faced with big risks and big rewards in crypto. Either way, congratulations are definitely in order for everyone who stuck with crypto through this brutal 3 year bear market. Your just rewards lay ahead, so be sure to trade safe, practice proper risk management and don’t get rekt!