Your Top Crypto Alpha #73
What's the best crypto alpha this week?
These posts are your gateway to our exclusive market alpha, top coins to watch, and latest technical analysis. They also keep our YCC Patrons ahead of the curve.
Here is this week’s curated alpha:
Latest Bitcoin price forecast
Top 5 Altcoins This Week!
Market tips of the week
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Latest Bitcoin price forecast
TLDR: Sellers continue to hold Bitcoin under $120k while buyers hold it above $112k. Whoever wins this battle will decide where Bitcoin goes next.
It is the second time Bitcoin tests the $112k support in August. So far, it held well and buyers came rushing in on Friday when the US Fed Chairman, Jerome Powell, hinted at lowering interest rates in September.
As long as the price does not enter and close within the blue triangle (see chart), I remain bullish. If Powell actually cuts rates on 17th September, then Bitcoin will have an easy time pumping to new highs this autumn.
Despite the volatility, the outlook remains bullish with a high likelihood that the period between September and November will be extremely bullish.
Related to that, see the table in my previous post which shows the historical monthly returns of Bitcoin. Check October and November. These are the best months to be exposed to BTC. As it happens, it would coincide with the period after the Fed starts cutting interest rates.
That’s also extremely bullish for altcoins. On Friday, Ethereum pumped 14% on that same news. If you want to ride the coming altcoin wave, it’s time to get positioned NOW! Let’s look at my top altcoin choices this week next.
Top 5 Altcoins This Week!
In Alpha Post #71 I recommended a number of altcoins in the Ethereum ecosystem on top of ETH itself. Two weeks since, most altcoins on that list are in solid profits, including ETH.
For example, one of my recommendations was Morpho. It’s up by over 30% since.
The reason I recommended Morpho is because as Ethereum increases in price, money markets like Morpho will benefits from this in an exponential way.
Why?
Because with Ethereum being valued more, users on such platforms will be able to borrow and leverage more against their ETH collateral. In April, 1 ETH was $1,400. Today, that same ETH, is worth $4,800. That’s a 3.4x increase.
Add leverage on top and there are billions in extra liquidity flowing through protocols such as Morpho since April. That means higher user volumes and fees which leads to Morpho and similar tokens pumping.
As long as Ethereum makes new highs, DeFi and related tokens will follow closely. Two weeks ago, I also had AAVE on that list which pumped by 28% since.
Today’s list of altcoins are not in the Ethereum ecosystem. They are outside of it. This aims to complement that initial list. Let’s begin.
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