iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
21,264 Blog Posts

WARNING: The Crypto Market is Being Subverted Again

The last time we had a market like this in cryptos was May 2021, when morons pilled into DOGE, CUM ROCKETS and other unsavory coins — laughing whole heartedly because pretending is fun. Now we have a perverted craze in NFTs, of the likes I never thought possible. People are paying $50k for complete nothing. To facilitate much of the “art” payment, SOL is used. Over the past month SOL has gone from $35 to $187, straight parabolic to the upside.

Like DOGE, this will not last and the idea of SOL displacing ETH due to expensive gas fees is not going to happen.

I’m not a crypto seller, but be careful up here — especially new jacks wanting quick gains.

We have a new suite of tools in Stocklabs that I am thrilled to use today — % change over 30 sec, 1,5,15, and 30 min time frames. Sounds simple and it is, but when used with our volume tools — straight crack.

Those are the biggest movers in Pre-market, sorted by volume and gains of +0.5% or more over the past 5 mins. When in the trading session, I can pair that with our volume surge analyzer on a 5 min scale to find anything that is moving and be first.

Early going, I am +80bps, eager to begin the Fall trading season, hoping for something exciting to happen.

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