Yesterday we saw the biggest Bitcoin sell-off in weeks, from $63,000 to just above $61,00 and the Fear and Greed Index fell to 53 (neutral).
Should you buy or sell?
For contrarian investors, now is the time to look to buy the market. While the market is scared and selling, this is your opportunity to buy at a discount.
While many markets were expecting a massive rise in the value of Bitcoin following the Bitcoin halving event, what we have learned from previous Bitcoin halving events is that it may take several weeks, or even more, before the decline in Bitcoin’s market flow is fully reflected. It takes several months. At the market price of Bitcoin.
We do not expect the Bitcoin price to fully recover until early June, when we expect it to hit new all-time highs in the final quarter of the year. It’s impossible to predict the future, but if America’s largest banks are investing in Bitcoin, it’s generally a good sign.
Next comes Michael Saylor’s micro strategy, which seeks to acquire more than 1% of the total supply of Bitcoin, further limiting its circulating supply.
Additionally, a recent SEC filing revealed that 186 asset managers currently own the Spot Bitcoin ETF.
So, despite the market decline, many factors are putting Bitcoin in a bullish position.
upcoming political elections
The next scheduled political election is likely to have the next greatest impact on the price of Bitcoin, especially with regard to regulations and policies regarding the use and taxation of cryptocurrencies.
Already, we’re seeing cryptocurrency regulation become a topic of discussion with Trump recently saying he’s now “fine with cryptocurrencies.” Meanwhile, Biden vetoed a bill that would have allowed financial firms to manage Bitcoin.
Join us – as we move into the preparation phase.
If you want to know what we’re buying, please join us through our monthly shares. Altcoin Recommendation Looking forward to the upcoming Bull Run – Become a member to access.
Richard.
Top 100 Popular Altcoins
The market is showing some signs of recovery this week.
Today’s Crypto Fear and Greed Index
Today’s Cryptocurrency Fear and Greed Index = neutral –> Decreased to 53 (from 54 last week).
Bitcoin and Ethereum price changes
Bitcoin Diminish 4% Last week, currently trading $61,144. Over the past 90 days, Bitcoin has declined as follows: 16.2%.
Ethereum Diminish 6.6% Last week, currently trading $2,919. Over the past 90 days, Ethereum has declined as follows: 16.5%.
Global cryptocurrency market capitalization increase to $2.24T (From $2.14T last week).
Top 100 Gainers – Last 7 Days
The biggest gainers over the past 7 days (in the top 100) are:
Akash Network (AKT) +33.2% – 63rd
Akash Network (AKT) The price has increased significantly by +33 in the last 7 days. The price fluctuation reached its peak, rising 31.0% in one day. This surge runs counter to the broader cryptocurrency market, which has been experiencing declines over the same period. Akash Network is a decentralized cloud computing platform that uses the Cosmos SDK to facilitate a marketplace where users can buy and sell computing resources.
Akash Network aims to democratize cloud computing by providing an alternative to centralized providers, providing more cost-effective and adaptable solutions, and the platform has already seen significant growth in deployments since its mainnet launch.
Render (RNDR) +21.4% – 23rd
Render Network (RNDR) A decentralized platform that leverages the Ethereum blockchain to connect users with idle GPU power with those needed for digital rendering tasks. This peer-to-peer network aims to provide a scalable and cost-effective solution for complex 3D rendering by efficiently utilizing the world’s GPU resources. RNDR tokens are used for transactions within the network, while RNDR credits provide non-crypto payment options. The network integrates with Apple’s technology through OctaneX to expand user accessibility.
Toncoin (TON) +18.7% – 8th place
Toncoin (TON) It is the native cryptocurrency of TON (The Open Network) and was initially developed by Telegram, but is now managed by the TON Foundation after Telegram withdrew due to regulatory issues. This blockchain aims to increase transaction efficiency and supports a variety of decentralized applications (dApps). Toncoin is used to pay for transaction fees, staking, rewards, governance, and services such as TON storage and TON proxy. With integration with Telegram and user-friendly wallets, Toncoin has significant potential for widespread use and adoption.
World Coin (WLD) +15.1% – 74th
World Coin (WLD) It is a digital currency that is part of a broader plan to create a global identity and financial network. It leverages World ID, a privacy-preserving digital identity system authenticated through a biometric device called Orb. Orb distinguishes between humans and AI online by scanning their irises. Initially linked to Telegram, Worldcoin is now overseen by the Worldcoin Foundation. Despite its innovative approach, the project faces regulatory scrutiny and privacy concerns in several countries. The goal is to foster a more inclusive global digital economy by distributing the WLD token as part of a model inspired by universal basic income.
meme coin
We hate meme coins and hate to love them. These projects are frowned upon by most serious investors because they have no intrinsic value. However, meme coins More Crypto Millionaires More than any other sector of the cryptocurrency market.
Meme Coins with the Best Performance
Meme coin has continued to perform well during the bear market over the past few weeks. The biggest increase in the last 30 days was…..Mystery (MERY) +4,214% (30 days).
What is the next 100x Meme Coin?
As the upcoming political elections begin to gain public attention, we are seeing political memes performing well in the run-up to the elections again. The two most popular political meme coins so far are: Jeo Boden and Doland Tremp.
Considering all the public interest and focus on the upcoming election, the next 100x meme coin is likely to be political. The funny thing about this industry is that the “next 100x meme coin” likely hasn’t even been minted yet.
Monthly Altcoin Selection
The May Altcoin Pick announcement has been postponed until more favorable market conditions emerge.
Bitcoin is down more than 15% in the last 30 days, and altcoins are down even more. Even if there are early signs of a market recovery, we will continue to monitor the market to determine the optimal purchase price.
We are optimistic that we will see a trend reversal in the coming days, and if this continues, we will release our May Altcoin Picks to our members at that time.
To access this and future monthly Altcoin recommendations, consider: become a member – It only costs the cost of a few cups of coffee a month.
Altcoin recommendations are emailed to members as soon as they are posted. Wondering how to choose your monthly Altcoin picks? methodology we use.
Altcoin Recommendations for Previous Months You can find it here.
We express our gratitude and respect to all members!
Until next report,
Richard.