Back
Dogecoin growth is a dangerous signal for the entire crypto market
Experts are confident that the growth of the seventh cryptocurrency - Dogecoin - may be a wake-up call for the market
Aug 17, 2021
1 min read
Anna BakkerNews analyzer

Dogecoin has gained 40% in recent days after billionaire Mark Cuban said DOGE is the strongest currency. By the way, Elon Musk supported the opinion of the billionaire.

Mark Cuban also stated that the imperfection and simplicity of DOGE are the strengths of the cryptocurrency, Dogecoin is a community that anyone can join.

In addition, Dogecoin has received support from the English professional football club Watford, which, under the terms of a sponsorship deal, will display the cryptocurrency logo on the sleeves of its players.

However, despite this positive crypto market, analyst Don Alt believes that Dogecoin's rise could be a wake-up call for the market. “DOGE and SHIB recovery starts a countdown. I will wait 10-30 days and will cut positions no matter how much I like the market situation, ”he said.

forex expert advisors

Do not forget about the pressure from regulators, which at any time can provoke an outflow of capital from the cryptosphere, which will cause a significant correction of the market and bitcoin as well.

The strong growth of cryptocurrencies can serve as a trigger for such an artificial market correction by regulators.

Can't decide which broker suits you best? See the comparison table here.

Last article
Read other articles
Anna Bakker News analyzer
XRP jumped 23% on Aug 11, surpassing the $ 1 mark for the first time since early June. Over the past 7 days, the sixth cryptocurrency has grown by 40%
Aug 12, 2021
1 min read
Anna Bakker News analyzer
Bitcoin falls to around $ 40,000 on Tuesday amid market turmoil
Sep 21, 2021
1 min read
Peter Janssen Market expert
Weekly analysis of EURUSD, GBPUSD, XAUUSD, USDCAD, USDJPY, AUDUSD, NZDUSD
Jul 26, 2021
3 min read
Forex Expert Advisors for your Profits
Forex trading robots based on AI. Innovative trading technologies for a stable growth of your profits