Despite a recent recovery, the cryptocurrency market downtrend continues. In a situation where the market’s volatility and unpredictability are high, smart crypto trading decisions are mandatory, especially to save oneself from losses. In this blog, discuss the top 5 crypto to sell and why. Let’s begin.
5 Crypto to Sell this Weekend
The third week of March is near its end, and similar to the previous two, the crypto market has not made significant improvements, even after the Fed’s interest decisions. Some analysts believe the volatility will continue unless some major bullish events happen.
However, until then, the strategy should be around buying at low and selling at low. More importantly, discarding the altcoins lacking further potential or moving towards losses. As a result, the top crypto to sell this weekend included Bitcoin, Pi Coin, and many other trending cryptos.
1. Bitcoin (BTC)
Bitcoin is the face of the crypto market, where its performance alone decides the trajectory of the others. Interestingly, the ongoing downtrend results from the failure of the BTC price to overcome crucial resistance. Things may turn more hectic as 22,000 Bitcoin options will expire amid these flat market conditions.
Source: Deribit
The option’s expiring-induced volatility may result in increased turbulence and even further Bitcoin crashes, making it the top crypto choice to sell this weekend.
2. Pi coin (PI)
Pi Coin quickly gained traction among investors due to its delayed launch. In the beginning, investors experienced massive rallies, but that failed as the hype began to die. Today, the Pi Coin price has declined more than 22%, leaving investors in massive losses.
More importantly, analysts believed this could be the beginning of a prolonged downtrend as the token lacked utility and was booming with hype alone. Investors must consider this crypto to sell after analyzing its performance.
3. Dogecoin (DOGE)
Dogecoin is at a critical point, as its DOGE price retests key support, which could either lead to an uptrend or downtrend in the bearish scenario. With the rest of the crypto market downtrend, DOGE faces a 35% loss over the month.
Despite high demand due to Elon Musk’s support, its failure to recover puts it in a difficult spot, especially as critics believe it is the end for meme coins.
4. Jasmy coin (JASMY)
JASMY was one of the most bullish cryptocurrencies in the 2021 bull run, but the trends have reversed since then. The token has lost nearly 100% of its value since the peak and lacks any upgrades and bullish factors to help with the recovery.
With a prolonged downtrend and low demand among investors, the uptrend is less likely. As a result, investors can opt to sell this crypto this week.
5. Hooked Protocol (HOOK)
Like JASMY, the Hooked protocol has also faced a downtrend for long, losing nearly 100% of its value since its peak. Additionally, a major HOOK token unlock will take place in the next few days, creating the possibility of increased volatility and further declines.
The Tokenomist report reveals that the Hooked Protocol team will unlock nearly 1.76% of its circulating supply, equivalent to 4.17M HOOK. This could shake its performance entirely.
Final Thoughts
For years, March has been a bullish month for Bitcoin price, but this year’s trajectory seems different. Although there are still days to witness a reversal, the ongoing conditions show uncertainty. Additionally, altcoins are on a similar trajectory, generating the need for careful trading practices.
Due to poor performance and individual reasons, Bitcoin, Pi Coin, HOOK, Jasmy Coin, and Dogecoin are the top selections for the crypto-to-sell list this week. At the same time, investors can consider Kekius Maximus, BUBB and other trending altcoins to buy.
The post 5 Crypto to Sell this Weekend to Prevent Crypto Market Losses appeared first on CoinGape.
