Crypto Briefing 3/4/24 – The Forecast

Crypto Briefing 3/4/24

Crypto Briefing 3/4/24

Bitcoin is likely to make a new all-time high before the Bitcoin halving. The crypto market is euphoric, with meme coins surging and altcoins picking up steam. We expect to see an increased amount of institutional capital enter the crypto space into 2025.

Ethereum remains in a strong bull channel and while it has not been as strong as Bitcoin has been throughout 2023 and 2024, it will have its time in the sun later this year and throughout 2025. The way the crypto market cycle works is Bitcoin leads and outperforms, money rotates into Ethereum, which inevitably outperforms BTC, and then altcoins have their blowoff top.

Fantom is up nearly 50% since we first highlighted it in our crypto brief. While we are not seeing strong follow through as of yet, it will likely retest previous highs in the months to come.

Robinhood has the potential of being a tremendous beneficiary of the crypto bull run. Coinbase continues to run into major problems such as the exchange shutting down during peak trading hours and exorbitant fees. For example if you wanted to purchase $1,000 of Bitcoin you could be paying up to potential $38 in commission for one side of the trade. Meanwhile Robinhood offers commission free trading where there is only a few dollar spread between the bid and the ask. We believe Robinhood will be adopted by newer and experienced crypto investors looking to purchase Bitcoin and Ethereum without the excessive fees. HOOD is up 62% since we highlighted it when it was at $11.00.

While we have some fundamental issues with Coinbase’s business model, that does not mean they will do poorly. COIN is still in a clear uptrend, and could even reach its IPO price if this bullish fervor continues.