YCC Crypto Alpha #51
Our latest community alpha & portfolio updates.
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These posts are your gateway to our latest market alpha, top coins to watch, and community updates. They also keep our busy Patrons happy and informed.
This issue covers:
Latest market outlook
Top three altcoins this week!
YCC portfolio updates
Market tip of the week
Latest market outlook
TLDR: This week, Bitcoin made a new record price at 109k! As long as the price remains in six digits the bias is bullish with a good chance Bitcoin will continue to make new highs.
Bitcoin seems to live in a different reality or market. It made an all-time high and sits comfortably above 100k. Meanwhile, 99% of altcoins are struggling to even make higher highs. A good example of that is Ethereum.
While the Bitcoin price action is bullish, the overall market is struggling to follow on its footsteps. This calls for caution, including with Bitcoin.
The market is in an odd place as it sends a lot of mixed signals. At the same time, the gap between Bitcoin and altcoins is widening in terms of price action.
I remain bullish on BTC as long as it stays above 100k, but the momentum across the market seems rather flat at this time. Part of the cause for this was the recent pump and dump by the Trump token that burned a lot of liquidity in the altcoin space.
Nevertheless, there are three altcoin outliers I want to talk to you about next.
Top three altcoins this week!
When the market is flat or down, it’s always good to scout for outliers. Those that go against the market consensus should always be on your shortlist. Luckily, the market offers us such cases and I will focus on three today.
The reason the altcoin market is flat is because retail (the small investors or dumb money) vanished since December. The chart below illustrates this point. It appears demand from retail bottomed after a peak in December.
Should retail return again at the end of January or in February, then the altcoin market will get spicy again. This is when taking positions today will print good profits.
Next, let’s look at the three altcoins that are outliers today.
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