3 times in March, savvy crypto traders bought breaking news at the price of a rumor

As the old saying goes, buy the rumor, sell the news.

As a digitally native asset class, cryptocurrency courses are clearly vulnerable to market-moving news that instantly spread across the internet. Awareness of bullish announcements can help cryptocurrency traders rake in huge profits, but navigating the cryptocurrency news landscape can be daunting.

Two major hurdles stand in the way: the abundance of potentially relevant information and the difficulty of making sure you’re always among the first to know about the news that really matters. Extensive research shows that there are three types of cryptocurrency events that move digital asset prices the most consistently: listings, staking announcements, and large partnerships. This idea somewhat reduces the scope of events that interest operators the most.

3 times in March, savvy crypto traders bought breaking news at the price of a rumor
3 times in March, savvy crypto traders bought breaking news at the price of a rumor

Now, what’s the best way for crypto folks to ensure they get their hands on the potentially big stories before the rest of the pack? There is no shortage of technological solutions, from the careful selection of the Twitter alert list to the various cryptocurrency data terminals.

Subscribers to Cointelegraph’s proprietary data intelligence platform Markets Pro have it easy. You get access to NewsQuakes™, a machine learning service that constantly monitors thousands of primary sources and automatically notifies the Cointelegraph Markets Pro community within minutes or even seconds of publication.

Here are three examples of how Cointelegraph Markets Pro subscribers benefited from the power of NewsQuakesâ„¢ in March.

ANC: Staking program announcement causes spike

ANC price (white), from March 2nd to 8th. Source: Cointelegraph Markets Pro

Staking announcements can be powerful market drivers, especially when an asset staking program is launched on a major platform and offers attractive terms. Launching Binance Staking Anchor Protocol with up to 40% APR on ANC is spot on.

The announcement, which was delivered to Cointelegraph Markets Pro subscribers as near-instant NewsQuakeâ„¢, stopped from the Binance Twitter account. The token was trading at $3.79 when the news broke and quickly picked up steam thereafter. Eighteen hours later, ANC price reached $4.90 and then climbed even further to over $6 on March 5th.

SNX: Announcement of a double listing

SNX Prize (in white), March 5-12. Source: Cointelegraph Markets Pro

Another tweet put huge upward pressure on the Synthetix Network Token (SNX) price. The message is referred to the SNX listing on Binance.US. Interestingly, there have been two Twitter announcements of the upcoming price, but apparently the first one (the first NewsQuake™ symbol on the March 8 chart) didn’t make much of a splash. However, the news of the actual start of SNX trading (the red circle on the chart) pushed the price of SNX from $3.98 to $4.77 in 23 hours, a rise of 19.8%.

SAND: A great club means big profits

SAND Prize (in white), from March 11th to 18th. Source: Cointelegraph Markets Pro

Partnership announcements tend to appear less frequently among the top NewsQuakesâ„¢ compared to listing and staking news. However, there are sometimes partnership agreements whose price-driving effect dwarfs that of most other NewsQuakesâ„¢. As a general rule of thumb, if a non-crypto entity has heard about affiliating with a crypto project, the price of the associated token is likely to increase.

Banking giant HSBC is certainly an institution familiar to most traders. His entry into the Metaverse, facilitated by The Sandbox, was something that would trigger a massive surge in the SAND token. In fact, minutes after the news broke to the public at Cointelegraph Markets Pro, the price of SAND soared almost vertically, climbing from $2.85 to $3.28 in just 18 hours (a 15% increase). .

Cointelegraph is a financial information publisher, not an investment advisor. We do not offer personalized or individualized investment advice. Cryptocurrencies are volatile investments and involve significant risks, including the risk of permanent and total loss. Past performance is not a guide to future results. Illustrations and graphics are correct at the time of writing or unless otherwise noted. Strategies tested live are not recommendations. Consult your financial advisor before making any financial decisions.

Investing in crypto assets is not regulated. They may not be suitable for retail investors and you may lose the entire amount invested. The services or products offered are not intended for and are not accessible to investors in Spain.

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