Crypto Briefing 3/18/22 - The Forecast

Crypto Briefing 3/18/22

Crypto Briefing 3/18/22

Over the past few days, Bitcoin has begun trending upwards. Over the next week, we expect to see a retest of $45,000. If Bitcoin is able to breach $46,000, then we will see a quick move to $52,000. A strong move in Bitcoin will allow altcoins to surge to new levels after months of stagnation – though even already we have begun to see some very interesting price action from coins in our model portfolio. Casper, Algorand, and XinFin have undergone price increases of 10% to 15%. We are seeing smart money accumulate altcoin positions, which will perform well over the next few months. During Q1, a record number of accumulation was also seen in Ripple, our top pick leading the altcoin portfolio. Our current projections for an altcoin rally are within the first half of 2022.

We are currently monitoring the stock RIOT as it can be a predictor for Bitcoin’s price action. RIOT is a Bitcoin mining ETF, and has historically rallied prior to larger Bitcoin rallies. We feel confident that Bitcoin will break out of its consolidation zone as the crypto market will be bolstered by a declining US dollar. Gold Members of our equities service were alerted to RIOT weeks ago, and are already up more than 20% on their positions.