“This analysis is an adaptation from the work of Mati Greenspan, Senior Market Analyst at eToro
- The Twitter poll suggests industry still dominated by Hodlers
- Bitcoin jumps above USD 4000 with a sudden spike of 6%
- With USD 4000 scaled back, now all eyes move to USD 5000, the next best support
Hodlers dominate the crypto industry
As the crypto industry is maturing, the roles of people in the industry are changing. A lot of people from just being investors have taken up a more active role in the industry. Although the divergence has come in, a recent survey on Twitter still found the industry to be dominated by Hodlers which was supported by 72% of the votes. The other options on the poll were BUIDL- work at cryptos, Trader- active investors and others.
Of the many comments on the thread, it seems that a number of people couldn’t quite limit themselves to a single response with the most common comment being “all of the above.” One thing that was surprising about these results was the sheer amount of people out there who are actively contributing and building crypto.
Bitcoin spikes 6% in less than an hour and now sits above USD 4000
Yesterday afternoon the crypto markets were delightfully surprised by a sudden surge in bitcoin of roughly 6.5% in less than 30 minutes. Now, it’s not uncommon for this type of sudden spike to occur in the crypto markets but what was interesting is that the spike took it above $4,000 per coin. Even though $4,000 is a nice round number, it doesn’t necessarily represent any sort of significant psychological level. On zooming out, and as discussed for a few weeks now, it is clearly visible that the overall range lies between $3,000 to $5,000 per coin. While currently Bitcoin is stationed in the halfway mark, one has to remember that one of the major crypto exchange, Bitfinex will be down for maintenance over the next few hours, which could affect liquidity in the market and possibly make things even more volatile.
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Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Follow him on Twitter at @KoinKing1 or connect with me on linkedin.