Wall Street giant admits crypto winter has passed and South-Korea is pumping another altcoin

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Last Updated on 6 November 2023 by CryptoTips.eu

What a month of October already for Bitcoin. Of course, history repeats itself and October 2023 will probably be one of the best months ever for Bitcoin. That is why this month is also known as ‘uptober’ of course.

In South Korea, a small altcoin is being pumped through a system that only allows purchasing, so beware of FOMO.

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Morgen Stanley

Analyst Denny Galindo from investment bank Morgan Stanley tried to explain as best as possible to the bank’s customers that the crypto winter is normally over and that now is a good time to invest, As the halving of next year will likely generate some buzz.

Denny said in the Morgan Stanley Wealth Management report that: “Based on current data, signs indicate that crypto winter may be in the past and that crypto spring is likely on the horizon.”

Bitcoin is up about 100% so far since the beginning of this year.

Upbit

You probably remember Loom. This little altcoin pumped really hard last week when the South Korean crypto platform Upbit made it possible to purchase it with Won, the local fiat currency. A few days later the price collapsed like a house of cards of course in a classic ‘pump and dump’.

As we said then, you should always pay attention to Upbit listings, because this very large crypto platform has particular rules.

Yesterday they suddenly allowed the relatively unknown small altcoin Mina for trading. Young South Koreans who trade in crypto could thus purchase a very cheap new digital currency. However, for the first five minutes after trading, they were only allowed to buy and not sell. You can guess what happened next of course.

Mina ‘pumped’ almost 100% higher in 1 day. Be careful when you purchase this coin, because if a very large group of South Koreans decides to sell all together, things can go very quickly in the other direction.

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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