Will Crypto Continue Its Downward Trend?
Crypto Report
April 05, 2024
DAILY MARKET OVERVIEW
Banks Taking Over Bitcoin
Hey there Crypto Enthusiasts!
The markets have been on a rollercoaster ride lately.
Things are getting a bit shaky, and it's got everyone nervous.
The main culprit? Ethereum's not exactly flexing its muscles against Bitcoin. If it keeps showing weakness it is likely we see further declines for altcoins.
On the positive side, we have big news from the traditional finance world!
Morgan Stanley and UBS, two major financial institutions with trillions of dollars under management, are about to open the doors for their clients to invest in Bitcoin ETFs.
This means that regular investors, not just the super-wealthy, will soon have access to Bitcoin investment options. It's like the floodgates are about to open, with other banks likely to follow suit.
Analysts and investors, including the renowned figure Anthony Pompliano, maintain an optimistic outlook on Bitcoin's long-term prospects.
Anthony Pompliano has a straightforward message: just buy it and hold onto it for the long term.
In simpler terms, he's saying that instead of trying to time the market or trade Bitcoin like stocks, it's better to think of it as a long-term investment, similar to buying real estate or gold and holding onto it for years. With big players from Wall Street getting involved, Pompliano believes Bitcoin's value could soar even further.
TWITTER SENTIMENT
Current Market State
We've experienced a significant downturn over the past few days, and crypto traders on Twitter have been wondering when we will hit bottom before the next upward movement.
According to some, we should anticipate another -20% to -30% for altcoins.
However, trader Crash believes the sell-offs are nearly finished. He advises everyone not to sell their positions, as there is much more potential in the market that should not be missed.
The Return of AI
AI has been one of the strongest trends in crypto thus far. However, it recently experienced a cool down as meme projects took the spotlight.
We've been closely monitoring Twitter and anticipate that the AI narrative is ready to reignite, with large influencers discussing it often.
We believe, along with crypto influencers, that now is a good time to gain exposure to AI projects in anticipation of their potential comeback.
Among the AI projects we are currently monitoring are Netmind (NMT), which has been garnering significant attention in the crypto Twitter space, as well as Edge Matrix Computing (EMC), a slightly lesser-known but highly promising AI project.
NEWS OVERVIEW
Recent Crypto News
YOUTUBE INFLUENCER SUMMARY
Lark Davis - Bitcoin Most Just Don't See This (05.04.2024 Summary)
Crypto Land is a wild and exciting place! According to Lark, Bitcoin is the OG of the bunch, and it's been steadily climbing up that crypto mountain. But the real party is happening in the Bitcoin ecosystem, as Lark has been highlighting.
We've got all sorts of new toys to play with - Bitcoin NFTs, Bitcoin tokens, and even Bitcoin decentralized finance (DeFi)!
Lark pointed out projects like Ordinals, which are allowing the creation of Bitcoin-based NFTs, and Runes, a new protocol for deploying fungible tokens on Bitcoin. And then there's the likes of Ordiswap, which is building an AMM infrastructure for these Bitcoin-based tokens, essentially bringing the Uniswap experience to the Bitcoin network.
It's like a whole new world has opened up for the Bitcoin faithful. Sure, the Ethereum folks have been having their fun with all their Layer 2s and whatnot, but now it's Bitcoin's turn to shine, as Lark has been emphasizing. Projects like Portal and Bitlayer are bringing DeFi capabilities directly to the Bitcoin blockchain, without the need for wrapping or synthetic assets.
The best part? We're just getting started. The big banks are finally starting to get in on the Bitcoin action, with Morgan Stanley and UBS racing to be the first to offer Bitcoin ETFs, and Lark is excited about the implications of this. He thinks it's going to be a tidal wave of money hitting the crypto markets, and Bitcoin is going to be riding that wave straight to the moon.
Of course, we'll probably see some crazy volatility along the way, but hey, that's all part of the fun, right? So buckle up, crypto fans, because things are about to get wild. With new Bitcoin-based projects popping up left and right, and the big money starting to pour in, we're in for one heck of a ride.
Satoshi Stacker - BITCOIN HALVING IN 17 DAYS - TIME TO SELL BITCOIN? (05.04.2024 Summary)
Get Ready for the Bitcoin Halving! 🚀
In just 17 days, the highly anticipated Bitcoin halving is upon us. This event is a game-changer for Bitcoin, and savvy investors like Satoshi Stacker are preparing for the fireworks.
Recent days have been a wild ride for Bitcoin. We saw a massive 8% pump, taking prices from $64,500 all the way up to nearly $70,000! But just as quickly, a pullback hit, as traditional markets felt the pressure from hawkish Fed comments.
Despite the dip, the long-term outlook for Bitcoin remains extremely bullish. Why? The halving!
You see, when the halving happens, the daily new supply of Bitcoin will get cut in half - from 900 BTC per day down to just 450 BTC per day. That's a massive $30 million reduction in daily selling pressure from miners.
To put that in perspective, that's twice as much as MicroStrategy invested in the first quarter of 2024! The supply shock is going to be intense, just as Satoshi Stacker has been predicting
.Now, in the short-term, we may see some volatility around the halving. Traders will likely take profits, causing some ups and downs. But in the long run, the fundamentals have never been stronger for Bitcoin, according to Satoshi Stacker.
His advice? HODL on to your BTC! The halving is going to be a game-changer, and patient investors who weather the storm are set to reap the rewards.
So, get ready Bitcoin fans - the halving is just around the corner, and the future is looking brighter than ever for the king of cryptocurrencies, as Satoshi Stacker has been saying. 🌕
The information provided in this newsletter is for general informational and educational purposes only. It should not be considered financial advice or a recommendation to buy or sell. Please consult a qualified financial advisor for personalized advice that considers your individual financial situation and goals.