• Bitcoin, Ethereum, and Litecoin whales could impact upcoming price levels.
• Most cryptocurrencies have broken through multiple resistance levels and have recorded some interesting feats this month.
• The Santiment Community platform explains how investors can spot and profit from artificially inflated crypto prices.
The crypto market has been experiencing an unprecedented bull run in the last few weeks, with Bitcoin (BTC) price climbing above $21,000 for the first time since November last year. Shortly, the asset fell marginally as sentiments hit neutral. According to the latest market data, Bitcoin’s current sentiment has reached „bullish“ with the price trading a little above $23,000. This is a 9.5 percent increase in the last seven days. Ethereum is also enjoying a bullish sentiment with a trading price of $1,635 and a weekly surge of 4.7 percent. Almost all the top altcoins are in green including Solana which almost crashed after the collapse of the FTX empire. The asset is currently trading at $24, and investors have made a weekly gain of 5.6 percent.
The question of whether this is a breakout or a fakeout remains within the minds of investors. To this end, Santiment, a market intelligence platform, has published a post on the Sentiment Community platform titled „The Pump Hunter’s Guide: How to spot and profit from artificially inflated crypto prices“. The post explains how Bitcoin, Ethereum, and Litecoin whales could impact upcoming price levels by manipulating the market and artificially inflating prices.
Whales, which are investors with large amounts of crypto, can move the market with huge trades and influence the prices of crypto assets. Santiment’s post explains that whales use a variety of strategies to manipulate prices, such as buying large amounts of coins in a short period of time, which can cause a huge spike in price. They can also use the same strategy to cause a crash in prices by dumping the coins they have bought at inflated prices.
The post also provides investors with tips and strategies on how to spot and profit from artificially inflated crypto prices. It outlines the various indicators to look out for when looking for a potential pump and how to properly analyze the market and make a profitable trade.
It is important to note that most experts have refused to link Bitcoin’s current rally to the deliberate activities of whales. However, the Santiment post provides investors with a guide on how to spot and profit from artificially inflated crypto prices. Investors should be aware of the potential risks associated with whale manipulation and should always do their own research before making any trades.