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đź“ş ROLLUP: 3rd Week of May (Dip Week, The Rise of Polygon, Elon Crypto, Coinbase Outage, China)

May 21, 2021
The podcast dives into the wild world of cryptocurrency with discussions on the significant price dips of Bitcoin and Ether, spurred by market volatility. It highlights Elon Musk's unpredictable influence on crypto trends and the remarkable rise of Polygon in Layer 2 solutions. The team discusses the implications of Ethereum Improvement Proposal 1559, decentralized exchanges like Uniswap V3, and the innovative developments at Coinbase and SushiSwap. Key insights on market sentiment through fear and greed dynamics round out a captivating exploration of today's crypto landscape.
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INSIGHT

Dip Week

  • The crypto market experienced a significant dip during the third week of May 2021.
  • Bitcoin fell from $58,000 to $36,500, while Ether dropped from $4,390 to $1,800.
INSIGHT

ETH/BTC Ratio Strength

  • The ETH/BTC ratio held up surprisingly well during the dip, unlike previous bear markets.
  • This resilience suggests a potential shift in market dynamics, similar to 2017.
ADVICE

Dip Analysis

  • Over-leveraged trading and whales exploiting market conditions likely caused the dip.
  • Avoid excessive leverage and be mindful of market manipulation.
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