YCC Crypto Alpha #55
Our latest community alpha & 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
How to know what altcoin to buy?
Market tip of the week
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Latest market outlook
TLDR: Bitcoin dropped by 28% from its all-time high at 109k. As long as the price remains above 70k, new highs remain likely, and this is just a normal correction.
In the past week, the market nuked with most altcoins in double digit losses. While the picture on the altcoin front is more bearish, for Bitcoin, this could be just a normal correction in line with the past.
A correction of around 30% in a bull market is nothing out of the ordinary. In this context, as long as the price holds above 70k, there is a good chance BTC will return on an uptrend eventually.
I would be quite surprised if Bitcoin topped at 109k in this cycle. I find that less likely than Bitcoin returning on an uptrend after this correction ends.
With that in mind, watch the key support at 70k. That level has to hold to keep the uptrend intact. Moreover, I have a chart next that shows the market may soon pump again which may open new opportunities for quick profits.
How to know what altcoin to buy?
Some analysists argue that it’s all about money supply. Based on the below Bitcoin chart, this market-wide drop was overdue due to a time delay (or gap) versus M2 money supply (blue line on the chart).
If that holds true later, then we should expect some sideways price action next and then a nice recovery with possible new highs. If you are scouting for some good opportunities, make sure to follow the below guide!
To increase your chances at success, I compiled five key tips you HAVE to check before you click buy. I also mention altcoins that show promise in the future. Let’s start.
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