Crypto Briefing 1/28/23 – The Forecast

Crypto Briefing 1/28/23

Crypto Briefing 1/28/23

For the first time in 10 months, the Bitcoin fear and greed index has oscillated to greed. Despite Bitcoin still consolidating before its next move up or down, the market has a positive sentiment, with many believing the worst of the bear market is behind them. Over the next few days, we should gain more insight about whether or not BTC is in a bull channel or a trading range.

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Quant has the potential of becoming one of the strongest-performing altcoins of the next bull market. With a smaller supply than Bitcoin and actual utility there is a high probability that speculation and real-world demand help drive QNT’s price. We have been consistently impressed with Quant’s price action throughout the bear market. With more countries set to announce pilots for their own CBDCs, Quant will at minimum receive additional attention from the crypto community due to its unique ability to have different blockchain legacy systems interoperate with each other.

Even though we are excited about crypto’s future over the next few years, there is an unnerving market signal that cannot be ignored. Aptos is a new layer one network, which has been hyped up immensely by crypto zealots. As we have seen in the past, whenever a new relatively unknown asset has rallies of this magnitude, it could be an early warning sign of an impending reversal in the market. Aptos has already made a measured move up, but as the hype dissipates speculators could be in store for a correction.