Bitcoin, Polkadot and Shiba Inu – European Wrap 5 November

Bitcoin price has spent roughly two weeks consolidating around a psychological barrier and shows no affinity to move higher or lower. This indecision indicates reduced volatility and that an explosive move is on its way. One possible fundamental driver for such a move could be the introduction of a spot Bitcoin ETF currently awaiting approval by the SEC. 

Polkadot price has shown strength over the past few days despite the big crypto’s weakness, and Polkadot’s recent upswing has breached a crucial level, indicating the start of a new leg-up.

DOT/USDT 1-day chart

Shiba Inu coin lost market capitalization to Dogecoin and slipped out of the top ten cryptocurrencies. Proponents consider SHIB highly centralized as the concentration of Shiba Inu holdings in whale wallets comes under scrutiny. 

 

 

 

 


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