This recent correction serves as a powerful reminder of the volatility of crypto. While we expected a retest of the $39,000 level, news of Russia banning crypto has sent the market spiraling downward. Outside binary events like these are always possible and can magnify the highs and lows achieved in the crypto market. But our forecast remains intact and we still expect a major rally this year. However, we believe that if the $36,000 level is breached, it may be possible for $30,000 BTC, which would drag all altcoins down with it. We at The Forecast are personally accumulating significant amounts of cryptocurrency at these levels, adding to all positions in the model portfolio especially XRP, CSPR, HBAR, ALBT, and QNT.
One of our favorite digital assets, Hedera Hashgraph (HBAR), announced that its underlying code would become open source. This shift will help drive more developers to the network and will attract more businesses to utilize it. Hedera is one of the fastest and most efficient networks in the crypto industry, and we expect it to become a top 10 coin in the future. While we understand that this level of volatility can be frustrating for investors, we would like to remind members that volatility has helped push assets upward. Assets are guided by fundamental laws of nature – like gravity – and very frequently the lower an asset is pushed, the higher it can explode. For this reason, crypto will almost always decline before major rallies are seen. Last year, Bitcoin collapsed to $10,000 before its run to $60,000. We have a very longterm perspective on digital assets, and believe that this market has the potential to reach $100 trillion plus when we see widespread adoption. Our fundamental perspective on our altcoin portfolio remains unchanged, and we are expecting a decisive move upwards into late March.