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A widely followed cryptocurrency trader says the FTX collapse has spurred an alarming amount of Fear, Uncertainty and Doubt (FUD).
Before making plans for top altcoins XRP, Chainlink (LINK) and one token experiencing tremendous growth, crypto analyst Michael van de Poppe said: comment About the current crypto mood.
We can definitely understand that people are terrified and contagious from the FTX fallout, but the amount of FUD and negativity over the past week on literally everything in the ecosystem is staggering. “
Analyst, enter the chart suggest LINK’s current price level could potentially rise.
This is still consolidating at the range low and is a good entry if you are looking for investment purposes.
Next is Van de Poppe appear With SafePal (SFP), an altcoin that surged 124% over the last 7 days.
At some level, we were monitoring this for day trading purposes.
SafePal is a decentralized cryptocurrency wallet backed by cryptocurrency exchange Binance. It allows users to manage their crypto wallets using their mobile phones. SFP tokens are created on the Binance Smart Chain blockchain, used to vote on the network’s governance protocol, and can be wagered to win prizes.
Finally, Crypto Analyst chart out XRP, the 7th largest crypto by market cap.
There is not much to say about this as the market is still consolidating at the support level and full of huge fears.
As for investment, it is an entry, but patience is required.
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Featured Image: Shutterstock/Athitat Shinagowin
