Crypto Briefing 1/4/22 - The Forecast

Crypto Briefing 1/4/22

Crypto Briefing 1/4/22

After months of being in a downtrend, the crypto market is beginning to wake up. Bitcoin has broken $40,000 and Ethereum is approaching $3,000. While there may be some whipsaw due to volatility in the stock market, the crypto market’s trajectory is up into the Spring. Short term resistance should be seen at $41,000 Bitcoin and $3,000 Ethereum. Near term, there remains a chance Bitcoin forms a double bottom at $32,000 or a slight undercut low. However, a two-day close over $43,000 will almost certainly negate this path – the retest is not necessary for Bitcoin to continue rallying.

In our previous briefing, we highlighted one of the best long term holds in crypto, Quant. Shortly after our briefing, the coin’s price began to surge and is presently up by over 40%. Unlike most altcoins, Quant’s price is capable of ignoring market conditions and can even trend up during a declining market. We believe that every investor should have some exposure to interoperability projects that will allow for various blockchain and legacy systems to connect. Due to the talent and sound tokenomics of QNT, we feel confident about its long and short term success.

Out of the 10,000+ coins trading on the open market, we believe that XRP has the most catalysts for a parabolic move. On the announcement of a settlement with the SEC, retail investors will begin piling into XRP. We believe that it is important to have a position before this event occurs. Another strategy that we will employ during the imminent altcoin rally is funneling profits from other coins into XRP. Crypto is a historically rotational asset class, and XRP has traditionally rallied last. As a result, we will be taking profits from a portion of our altcoin portfolio and reallocating it into XRP. Our conservative price target for XRP is $5-$10, while our more speculative one is $20-$25.