Here’s What You Missed in Crypto’s Latest Wild Ride
By Beth Canova |
I don’t need to tell you what a rollercoaster this week has been.
The highly anticipated U.S. presidential elections loomed over the markets for weeks. And in those weeks, the broad market stagnated as uncertainty prevailed.
But that began to change even before the final tally was in.
On Monday, Marija Matic revealed Where the Crypto Cash Is Flowing Ahead of the Election. And surprisingly, it was staying in crypto!
To be fair, the money was staying in older, more established cryptos and crypto funds. That indicates a more cautious sentiment than if it were flowing into smaller projects.
Still, the fact that funds stayed within the crypto market revealed a continued confidence … just as uncertainty peaked.
That confidence that was reflected in one of Dr. Bruce Ng’s favorite market indicators: impulsive price action.
According to him, Price Action Like This Can Show the Start of the Bull Run. In his latest Weiss Crypto Daily update, Dr. Bruce showed you how to chart and identify impulsive price action for yourself.
If you followed along, you should have been able to see for yourself what happened next in real time.
We barely had a moment to close the page on Election Day before Bitcoin (BTC, “A”) broke through overhead resistance to hit a new all-time high!
That was enough for Juan Villaverde to declare that The Results Are In: Crypto Wins!
True to the signals his Crypto Timing Model had flashed for weeks, Nov. 5 acted as a starting gun for Bitcoin.
It established a near-term low on Election Day before renewed investor optimism lit a fire under it to send it past a new all-time high and into price discovery mode! That’s because now President-Elect Donald Trump’s incoming administration is expected to be the first truly crypto-friendly White House.
Now, select altcoins are starting to break out as well.
And one to look out for is Bittensor (TAO, Not Yet Rated). According to Mark Gough, This Crypto Is Leading the Decentralized AI Revolution.
After dominating the headlines for months, AI has taken a backseat to the election in terms of hype lately.
That’s likely why a massive release of AI agents — AI programs that can perform tasks independently and learn from their experiences — last week was barely a blip on my news feed.
It probably didn’t hit your homepage either.
But Mark believes these are the next wave of AI development. He sees the revival of the AI narrative on the horizon. And when it comes to leaders in decentralized AI, Bittensor is definitely a sector dominator.
Our tech expert Jurica Dujmovic wants to look even further ahead for his next opportunity. That’s because two massive disruptions last month revealed the necessity for decentralized digital records.
Because, as Jurica explains, the internet’s memory is only as reliable as its record keeping. And in an age where anyone can make claims on social media, the need for transparent, verifiable digital records is imperative.
And Jurica believes The Blockchain Could Build a Truly ‘Forever’ Internet … andcreate opportunities for forward-looking investors.
With Bitcoin officially off to the races, other cryptos won’t be far behind.
Opportunity and volatility will be around every corner. So stick with us here at Weiss Crypto Daily to navigate through it all.
Starting with your next update tomorrow.
Best,
Beth Canova
Crypto Managing Editor