Investor Focus Shifts Towards “Gem Hunting” as Bitcoin Price Wanes

btc 1 980x535

The Uniswap trading trend that gained heat throughout July and August is back, but in a different form than before While in previous months, traders were focused on momentum plays over a multi-week time frame, they are now trading “Uniswap gems” with a one-day or two-day investment horizon This has caused plenty of small tokens to see massive, and fleeting, pumps over a shorter time frame One analyst believes that this trend may be why the altcoin market in general is seeing stalling momentum, which could persist until Bitcoin makes a bigger movement Bitcoin’s price has been stagnating as of late, trading squarely in the middle of its macro trading range between $10,200 and $11,200. This lack of momentum has done little to bolster the cryptocurrency’s short-term outlook, as investors and traders have largely been turning towards trading pre-sale tokens and other short-term investments. There are countless examples of tiny,…

Read the original article here