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RE: Why Fundamental Analysis is still fundamental in crypto-trading - 3 Ways to spot good sources
Thinking the rebrand of luck is causing the rise of price?
Thinking the rebrand of luck is causing the rise of price?
at the end of the day, it's a speculative market and most of the time a "rebrand" signals a new development for a project, in fact, when the news broke out on LSK, it rose to about 40-70%, However this movement in price have to be substantiated otherwise, a reverse effect will happen and you lose the investors' confidence on the project.
Interesting to note that while investors buy the coin for a long term investment, there are "traders" who just look out for this price movements oftentimes these are the "day-traders" who after a certain gain would take profit straight away regardless of what coin it is or whatever news they read. Eventually, a pull-back of the price may happen which is actually showing with LSK now sitting comfortably at around 0.002 but still at 40% increase from before the news broke out.