Crypto Briefing 4/15/22 - The Forecast

Crypto Briefing 4/15/22

Crypto Briefing 4/15/22

While BTC continues to consolidate, its ability to hold $40,000 indicates that it has more room to run. This recent correction has allowed for the market sentiment to reset, which will pave the way for Bitcoin to reach our $55,000 target by the end of Q2. Bitcoin should resume its short term uptrend by early next week, but will still remain volatile. The trend into the summer is for Bitcoin to make higher highs and lower lows.  When Bitcoin tops, in prior cycles, its final decline has triggered a multi-year bear market, but with greater retail and institutional adoption, we expect any crash to be bought up by smart money. When we do see a major correction in the crypto market, some of our top rated altcoins will be on sale for 50% to 70% off from the new highs they will soon set.

One altcoin that has largely been ignored by crypto investors is XLM. This is a project that derives its underlying technology off of the XRP ledger, but has a unique use case when compared to most projects. Stellar will be used for central bank digital currencies in the future and is being leveraged to ‘bank the unbanked.’ There are 1.7 billion people in the world right now who do not have a bank account and XLM is already tapping into this market through a partnership with Moneygram.

XLM is also being utilized by the Ukrainian central bank to create a CBDC. This will enable the people of Ukraine to receive stimulus from their government more efficiently without the need to be sent a physical check. XLM has a potential to become a major crypto related narrative as the conflict continues and could lead to more retail adoption of Stellar Lumens. Sitting at $0.20, XLM has retraced 60% from its previous all time high of $0.80. As we see our movement in the altcoin market take place, XLM could see a rally to $2 to $4.