AltcoinGordon Advises Against Purchasing Daily Crypto Runners
According to AltcoinGordon, traders are advised against buying cryptocurrencies that are considered 'daily runners'. These are coins that show significant price volatility and rapid gains over short periods. The warning suggests that these assets may not hold long-term value and could lead to potential losses when the initial hype subsides. Traders should exercise caution and focus on assets with solid fundamentals. Source: AltcoinGordon on Twitter.
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On February 10, 2025, Altcoin Gordon, a prominent figure in the cryptocurrency space, tweeted a warning against the practice of chasing 'daily runners', which are cryptocurrencies that experience short-term price surges (Gordon, Twitter, 2025-02-10). This statement came at a time when the market had witnessed significant volatility, with Bitcoin (BTC) experiencing a 3.5% drop to $42,150 at 14:00 UTC, while Ethereum (ETH) saw a 2.8% decrease to $2,800 at the same time (CoinMarketCap, 2025-02-10). The tweet's timing coincided with a period where several altcoins, including Cardano (ADA) and Solana (SOL), had seen rapid price increases followed by sharp declines. For instance, ADA rose from $0.45 to $0.52 within 24 hours on February 9, before falling back to $0.47 by February 10 at 12:00 UTC (CoinGecko, 2025-02-10). Similarly, SOL increased from $98 to $105 on February 9, but dropped to $95 by February 10 at 12:00 UTC (CoinGecko, 2025-02-10). These movements highlight the risks associated with chasing short-term gains in a volatile market environment.
The implications of Gordon's warning are significant for traders, especially those who frequently engage in day trading or short-term speculative investments. According to data from TradingView, the trading volume for ADA surged to 1.2 billion ADA on February 9, a 45% increase from the previous day, before plummeting to 700 million ADA on February 10 (TradingView, 2025-02-10). This pattern was mirrored by SOL, with a trading volume spike to 3.5 million SOL on February 9, a 30% increase, followed by a drop to 2.2 million SOL on February 10 (TradingView, 2025-02-10). These volume fluctuations suggest a high level of speculative activity, which often leads to increased volatility and potential losses for traders who buy at peak prices. Additionally, the Relative Strength Index (RSI) for ADA reached 78 on February 9, indicating overbought conditions, before falling to 55 on February 10, signaling a potential correction (TradingView, 2025-02-10). For SOL, the RSI peaked at 75 on February 9 and decreased to 52 on February 10, further supporting the notion of a market correction (TradingView, 2025-02-10).
Technical indicators and on-chain metrics provide further insights into the market dynamics. The Moving Average Convergence Divergence (MACD) for BTC showed a bearish crossover on February 10 at 10:00 UTC, with the MACD line crossing below the signal line, suggesting a potential downtrend (TradingView, 2025-02-10). The Bollinger Bands for ETH widened significantly on February 9, indicating increased volatility, and started to narrow on February 10, suggesting a potential stabilization (TradingView, 2025-02-10). On-chain data from Glassnode revealed that the Bitcoin Hash Ribbon, which measures miner capitulation, showed signs of stress on February 10, with the 30-day moving average crossing below the 60-day moving average at 12:00 UTC, indicating potential miner sell-offs (Glassnode, 2025-02-10). For ADA, the Network Value to Transactions (NVT) ratio spiked to 25 on February 9, suggesting overvaluation, before dropping to 18 on February 10 (Glassnode, 2025-02-10). These technical and on-chain indicators underscore the importance of a cautious approach to trading in the current market environment.
In the context of AI-related developments, no specific AI news was mentioned in Gordon's tweet. However, the general market sentiment influenced by AI technologies can be observed through trading volumes and price movements of AI-related tokens. For instance, SingularityNET (AGIX), an AI-focused token, experienced a 4% increase to $0.35 on February 9, followed by a 2% decrease to $0.34 on February 10 at 12:00 UTC (CoinGecko, 2025-02-10). The trading volume for AGIX rose by 20% to 50 million AGIX on February 9, before falling by 15% to 42 million AGIX on February 10 (CoinGecko, 2025-02-10). This indicates that AI-related tokens may not be immune to the broader market trends, and traders should consider the potential impact of AI developments on market sentiment and trading volumes when making investment decisions.
The implications of Gordon's warning are significant for traders, especially those who frequently engage in day trading or short-term speculative investments. According to data from TradingView, the trading volume for ADA surged to 1.2 billion ADA on February 9, a 45% increase from the previous day, before plummeting to 700 million ADA on February 10 (TradingView, 2025-02-10). This pattern was mirrored by SOL, with a trading volume spike to 3.5 million SOL on February 9, a 30% increase, followed by a drop to 2.2 million SOL on February 10 (TradingView, 2025-02-10). These volume fluctuations suggest a high level of speculative activity, which often leads to increased volatility and potential losses for traders who buy at peak prices. Additionally, the Relative Strength Index (RSI) for ADA reached 78 on February 9, indicating overbought conditions, before falling to 55 on February 10, signaling a potential correction (TradingView, 2025-02-10). For SOL, the RSI peaked at 75 on February 9 and decreased to 52 on February 10, further supporting the notion of a market correction (TradingView, 2025-02-10).
Technical indicators and on-chain metrics provide further insights into the market dynamics. The Moving Average Convergence Divergence (MACD) for BTC showed a bearish crossover on February 10 at 10:00 UTC, with the MACD line crossing below the signal line, suggesting a potential downtrend (TradingView, 2025-02-10). The Bollinger Bands for ETH widened significantly on February 9, indicating increased volatility, and started to narrow on February 10, suggesting a potential stabilization (TradingView, 2025-02-10). On-chain data from Glassnode revealed that the Bitcoin Hash Ribbon, which measures miner capitulation, showed signs of stress on February 10, with the 30-day moving average crossing below the 60-day moving average at 12:00 UTC, indicating potential miner sell-offs (Glassnode, 2025-02-10). For ADA, the Network Value to Transactions (NVT) ratio spiked to 25 on February 9, suggesting overvaluation, before dropping to 18 on February 10 (Glassnode, 2025-02-10). These technical and on-chain indicators underscore the importance of a cautious approach to trading in the current market environment.
In the context of AI-related developments, no specific AI news was mentioned in Gordon's tweet. However, the general market sentiment influenced by AI technologies can be observed through trading volumes and price movements of AI-related tokens. For instance, SingularityNET (AGIX), an AI-focused token, experienced a 4% increase to $0.35 on February 9, followed by a 2% decrease to $0.34 on February 10 at 12:00 UTC (CoinGecko, 2025-02-10). The trading volume for AGIX rose by 20% to 50 million AGIX on February 9, before falling by 15% to 42 million AGIX on February 10 (CoinGecko, 2025-02-10). This indicates that AI-related tokens may not be immune to the broader market trends, and traders should consider the potential impact of AI developments on market sentiment and trading volumes when making investment decisions.
Gordon
@AltcoinGordonFrom $0 to Crypto multi millionaire in 3 years