YCC Crypto Alpha #16
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 picks since November 2023!
YCC portfolio updates
Market tip of the week
Market Outlook
TLDR: Bitcoin increased by over 10k since our last weekly update! The price went from 52k to 62k in two days. This took the market by surprise and volatility spiked. Those holding spot enjoyed the show, those using leverage not so much.
It is not often that Bitcoin pumps by over 20% in 48h. We just got a taste of that this week which should really rub against anyone still doubting we’re in a major bull cycle (like the European Central Bank).
During the pump, the price touched 64k before it nuked 9% in minutes to 58k. That price action established a key range for BTC as shown in the below chart. Those using over 5x leverage were liquidated, those holding spot were celebrating. As the bull market accelerates, using leverage will get you in trouble.
Bitcoin is hovering in this range and once the price leaves it, we will know where it is headed next. To date, such flat consolidations were bullish and only a pause before new highs. The current target for a breakout is 69k or the all-time high. Exciting times ahead.
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Top altcoin picks since November 2023!
After 15 alpha posts, it is a good time to review some of our best altcoin picks and their performance to date. Some alts doubled, some tripled in price. This makes our Patrons happy as you can see below.
Traders sometimes say to buy strength in a bull market. That means you buy the best performing coins with the expectations that they will continue to perform. Bitcoin stands out as a great example. It has been performing since 2009!
On top of that, I also show you how you can farm over 33% APY on USD. Who wants to hold US Treasury Bills when crypto pays in double digits, right?
Time to dive in.