YCC Crypto Alpha #05
Our latest community alpha & portfolio updates.
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These posts are your gateway to the latest market alpha, top coins to watch and our community updates. It also keeps our busy Patrons happy and informed.
This issue covers:
Latest market outlook
Top altcoin gems to watch on Bitcoin ecosystem
YCC portfolio updates
Market tips of the week
Market Outlook
TLDR: Bitcoin is a 50% pump away from its ATH at 69k and is up 170% in 2023! Altcoins are also about to run hard. All signals point up! Volatility will also increase, so be prepared for that.
There are two major events taking place in crypto right now that you need to pay attention to:
Bitcoin is moving higher faster than anyone anticipated
The Altcoin Market Cap just broke away from a two year consolidation
These events are extremely bullish and represent the start of a massive bull run that is only beginning.
This pump shows that the market appears to be pricing in an imminent Bitcoin ETF approval (expected in Jan 2024). At the same time, it turns out that BlackRock insiders have been preparing for this outcome since 2022. They bought during the whole bear market at under 20k!
Moreover, Bitcoin is approaching eight consecutive weekly candles that will close in green. This is extremely rare. It pumped over 60% in less than two months. A drop will come, so expect volatility to pick up. Typically, Bitcoin has corrections of 20% to 30% in a bull market.
When the dump comes, be ready to buy. Good entries are at 36k and 32k, if we get them, as no one knows how long this impulse up will last.
Top altcoin gems to watch on Bitcoin ecosystem
One of the key narratives that will perform well in this bull market will be anything Bitcoin related, including DeFi on Bitcoin or any side-chains or Layer-2 solutions for Bitcoin.
A good example are the Bitcoin Frogs collection that went from $200 a piece to $7,000 today (35x increase). These BTC ordinals are the equivalent of NFTs on Ethereum.
As such, researching any promising new protocols or chains building on top of Bitcoin should be a priority. Here are my top three plays I have my eyes on.