Crypto Twitter Is Abuzz With Bullish Opinions ... Even as the Markets Correct Slightly

“Hopefully we’ve made clear by now that the market can’t go straight up all the time without any corrections. This is a healthy mid-bull cycle correction, one that will help Bitcoin prepare for a longer, more sustained run-up in the near future.”

This is the first paragraph from Alex Benfield’s Weiss Crypto Alert article yesterday, but it also provides a nice summary for the price action over the last seven days: plenty of ups and downs, ending with a correction — a well-deserved rest before cryptos resume their journey to the top.

Speaking of which, last week we asked you an open-ended question:

Interestingly — though not surprisingly based on previous responses — most replies favor Cardano (ADA, Tech/Adoption Grade “B-”),with one reader even saying how the cryptocurrency is poised to “explode in price.”

Last week indeed saw a lot of bullish chatter on ADA, and we can’t help but wonder if all those inflated expectations won’t affect the price action once smart contracts are rolled out. This is exactly what we’ve highlighted in our tweet just a few days ago:

It’s all about implementation. Speaking of which:

Certainly, pirates can and will make use of the anonymity of transactions the blockchain can provide, as well as leverage the distributed network as a content repository. So, it really goes both ways.

We love Ethereum (ETH, Tech/Adoption Grade “A”) — the blockchain that brought dApps and smart contracts to the world of crypto. And we’re not the only ones:

However, the No. 2 crypto by market cap has had its issues, many of which remain even after the London hard fork. It will be interesting to see if ETH remains afloat after the bull market when only coins with strong fundamentals will survive the price onslaught.

Speaking of problems, one coin has them in spades. However, recent developments have made it possible to not only resolve them, but also turn it from a meme into a serious project. You guessed it – it’s Dogecoin (DOGE, Tech/Adoption Grade “C+”):

Voting with your likes and retweets, you’ve also shown support for articles that caught your eye. Today, I want to put the spotlight one such article by Marija Matić: It perfectly outlines how valuable diversifying your assets and refusing to get hung up on crypto darlings can be.

You can read her articles every Monday for new and exciting insights into altcoins, NFTs and the world of decentralized finance (DeFi).

That all covers what last week had in store for us. But what about the week — or weeks — ahead? Well, Bitcoin (BTC, Tech/Adoption Grade “A-”) miners might have an idea:

Higher prices for Bitcoin usually mean higher prices for correlated assets ... and for most of the crypto market in general. So, here is hoping for more upward action as the short-term correction nears its end and candles turn green.

Until next week, stay safe and trade well.

Jurica Dujmović