Bitcoin’s Quest for a New All-Time High: A Golden Opportunity as Altcoins Retreat
Crypto Report
February 29, 2024
DAILY MARKET OVERVIEW
Bitcoin going for a new all-time high and altcoin sell-offs?
Bitcoin continues to hold strong and is expected to reach all-time this year. The bullish sentiment remains strong with massive catalysts such as the Bitcoin halving right around the corner.
Altcoins on the other hand have been fairly shaky as we saw significant sell-offs during yesterday’s short-lived dip.
We believe these altcoin sell-offs are a great opportunity to dip your toes in the market if you haven’t yet. And always do diligent research before investing!
TWITTER SENTIMENT
Will Doge Make It’s Great Return In 2024?
The all-beloved Doge has captured the attention of many today due to its sharp rise of 35% in just 2 days.
In 2021 Dogecoin was the hottest meme coin embraced by many and it’s looking like it could very well return to its throne in 2024.
Based on historical chart analysis from @TATrader_Alan we can see the Doge is likely to return on its rising path again and possibly reach close to 12$ this cycle.
Source: @TATrader_Alan
Here are some fun facts about Doge:
Doge was launched in 2013 which makes it older than Ethereum
Doge was launched using Litecoin Code which used Bitcoin Code (so technically Doge is the grandchild of BTC)
The Doge community will be launching a satellite in space called Doge-1 using SpaceX as the carrier
Many people say Doge is highly inflationary due to unlimited supply when in fact inflation is just over 3% halving every year.
Source: @datadynamix_
NEWS OVERVIEW
Recent Crypto News
YOUTUBE INFLUENCER SUMMARY
CryptosRUs - The Bitcoin PUMP Continues...All-Time High Soon (29.02.2024 Summary)
Bitcoin continues to pump, hitting $61,500 and looking likely to soon reach a new all-time high around $69,000
There is a lot of FOMO (fear of missing out) building, with more retail investors asking about and buying Bitcoin
ETF buying continues to increase, with over $700 million in Bitcoin inflows, helping push the price up
Many altcoins still have massive room for growth, with coins like Filecoin 3000% below their all-time high
CryptosRUs Dollar Cost Average portfolio is up 73% and he continues to DCA into Bitcoin, Stacks, and Solana
CryptosRUs made huge leveraged gains on Waves and Bitcoin though does not recommend following
Tomorrow could see Bitcoin test the $63,600 level again as momentum continues upwards
Overall the market seems extremely bullish, with Bitcoin appearing likely to break its all-time high soon and alts having lots of room to grow
CoinBureau - They’re Obsessed With CRYPTO!! This Report Explains It All! (29.02.2024 Summary)
Chinese and Thai crypto investors stand out as highly risk-tolerant, with most allocating over half their portfolio to crypto. Profit expectations are also very high among these groups.
In contrast, South Korean investors appear more conservative, with lower crypto allocations and modest profit targets.
Despite China's restrictions, its crypto industry continues to thrive with most trading still happening on centralized exchanges.
Asian crypto investors are far from one-dimensional - risk appetite and outlook varies greatly across countries and merits further investigation.
But broad themes are bullishness towards crypto in China and Thailand versus conservatism in South Korea. Regulatory approaches may motivate some of these differences.
In summary, crypto investment risk tolerance differs greatly across Asia, with Chinese and Thai investors distinctly optimistic and daring compared to their more prudent South Korean counterparts. However, crypto persists in flourishing across the region in different shapes and forms.
DAILY BET
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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.