Crypto Briefing 10/14/22 – The Forecast

Crypto Briefing 10/14/22

Crypto Briefing 10/14/22

Similar to the stock market, Bitcoin has its own version of the US PPT (Plunge Protection Team). Whenever Bitcoin’s price appears close to breaking beneath $19,000, there is a surplus of capital buying the dip.  But there presently is a general feeling of exhaustion in the crypto world, and after this final low, we expect to see some bullish momentum into year-end.

Meanwhile, XRP has continued to show tremendous strength with it remaining within the high forty-cent range. Additionally, we are seeing some explosive price action for Sologenic and Coreum, two coins that reside on the XRP ledger and are included in our model portfolio. While SOLO and CORE are more speculative than owning XRP outright, this project is attempting to tokenize assets. With the Sologenic team in the process of acquiring a US Broker dealer license and taking steps towards being globally compliant, we feel this project could provide immense value to traditional financial markets. Should crypto continue to follow the stock market and have a bearish outlook into 2025, SOLO and CORE could be some of the big winners of this crypto bear market.

Over the past few weeks, we have witnessed the de-platforming of celebrities such as Kanye West and Andrew Tate from the financial system. After being at the center of several controversies, the artist Kanye West was banned from Chase Bank, while Andrew Tate ran into issues with payment processors for his businesses. Never before in America have we witnessed the private sector become this hostile to individual dissidents. As we have seen throughout history, these sorts of punitive actions begin with a small minority of people but inevitably spill over to the larger populace.  Cryptocurrencies could prove to either exasperate this issue or be the solution. On the one hand, digital assets represent permission-less decentralized technologies that allow anybody anywhere to exchange value with a counter-party. Web 3.0 empowers people to take control of their financial destiny and be the custodian of their assets. Conversely, we are also seeing the creation of central bank digital currencies and digital ID’s by governments around the world that will allow them to have more control over their citizenry. Ultimately, there could not have been a better time in history for Web 3.0 to emerge. With people’s sovereignty under attack from every direction, cryptocurrencies offer one of a few solutions which allow people to take their power back.