Crypto Briefing 4/12/22 - The Forecast

Crypto Briefing 4/12/22

Crypto Briefing 4/12/22

We warned of some short term volatility in BTC which has now manifested over the past few days. Bitcoin should start reversing shortly and will likely make a new high. Our next short term target for BTC is $49,000-$50,000.  We expect to see Bitcoin whipsaw inside this ascending channel, oscillating with great volatility until a clean breakout occurs. So long as Bitcoin remains supported, we will have a window to capitalize on our altcoin positions. The crypto market should remain bullish into July, but after that we have a brief danger period in the market.

When it comes to movement in XRP, patience is essential. As we start to see more altcoins rallying, XRP will likely continue to consolidate. Even though we have the mentality that the Ripple SEC lawsuit could end at any moment, we are weighting our portfolio more heavily in other altcoins. We plan on rotating any profits we take from other altcoins into assets that have not broken out, and XRP will likely be one of these.  While we would like XRP to rally sooner, it is likely that we will see a surge in price during June and July. There is also potential for another leg up in XRP and the altcoin market in September and October. If XRP is able to reach $10 plus into July, then it is possible we could see a $20 to $25 price in the fall. We expect extreme volatility in both directions for the rest of this year, and continue to advocate for maintaining a cash position.