Bitcoin (BTC) $93,746.2 Today it dropped to $91,530 and must now have found the local bottom. Otherwise, predictions that there may be a drop to $ 86,000 may find support. The decline, which accelerated with the recent acquisition by Michael Saylor’s company, also caused significant fluctuations in altcoins. Alright CEEKFTT, DOGE, LUNA What is the situation with altcoins preferred by those who love speculative movements such as?
CEEK and FTT Coin
Altcoins that are risky in the long term CEEK Coin It had already begun to weaken before this major decline. If the support at $0.035 is lost, the risk of a return to the $0.027 and $0.025 region continues. Although the decline has weakened for now as BTC regained $ 93,000, CEEK Coin’s job is extra difficult as it weakens in the strengthening competitive environment.
As we stated before, the FTX bankruptcy committee will make payments to defrauded customers until March 3. Since cryptocurrencies begin to be converted into cash in November 2022, their dollar equivalents will be refunded at the exchange rate of that day. Of course, this is better than not getting any refund.
This development, which is positive for the general market sentiment, does not mean much for FTT Coin. Some speculative traders think that after the refunds, the stock market may be sold and become operational again. However, the bankruptcy committee announced that potential buyers gave up after negotiations.
Besides FTT Coin Why should we take on the mission when the FTX exchange becomes operational again? Even the court did not take seriously the FTT Coins held by the bankruptcy committee, considering them worthless due to their shallow liquidity and uselessness. However, FTT Coin fluctuated throughout December between $4.38 and $2.52 depending on news flow.
Investors who wait here in the long term run the risk of suffering huge losses due to possible serial delist statements. At best, FTT Coin can continue its life as a meme coin.
Dogecoin and LUNA
Do Kwon is on his way to the USA soon and at best they will ask him where he wants to go to prison. Although South Korea also requested extradition to punish him, Kwon will go there as Montenegro has an extradition agreement with the United States. Depending on the news from Kwon, a new ATL may be seen with closings below $0.389.
Elon Musk’s favorite meme coin It continues to hold strongly the key support of $0.3. With closes above $0.348, it may return to the range of $0.38 and $0.48. For now, investors are staying on the sidelines watching whether the recovery in overall market sentiment will gain momentum.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
