Crypto Briefing 4/19/22 - The Forecast
Start Free Trial

Crypto Briefing 4/19/22

Crypto Briefing 4/19/22

As we discussed in last week’s briefings, Bitcoin has once again started to turn bullish. With tax season officially over, the crypto market faces less selling pressure and can begin its rally again. Our next short term price target for Bitcoin is between $49,000 and $52,000. As Bitcoin starts its recovery in earnest, we should begin to see more altcoins enjoy parabolic moves to the upside.  Aside from technical analysis we rely on a variety of tools that give us an edge in our market analysis. For example in the stock market we monitor market cycles, market sentiment, and fundamentals. For our research in the crypto market this extends to on-chain data. Currently, we are seeing a net outflow of Bitcoin from exchanges. Whenever this chart reaches an oversold level, you can expect a large rally to occur shortly thereafter.

There are a number of bullish signals that could potentially portend Bitcoin making a new all-time high in the months ahead. For example, nearly every single commodity has set multi-year highs. With inflation now affecting gas prices, food, and services, there is a possibility that Bitcoin could set a new all-time high from the same forces at work.  While Bitcoin is not a commodity itself, it benefits from the same catalysts. The degree of price increase seen in commodities implies strength in Bitcoin’s use cases as an inflationary and geopolitical hedge.  And while far more functional than bullion, Bitcoin has been dubbed “digital gold” for good reason.
The Forecast

The Forecast

Have Any Questions?

Contact Support
Facebook Twitter

@ 2020 The Forecast| Legal

IMPORTANT FINANCIAL DISCLOSURES

Please see full disclosures: http://theforecast.co/disclosures 

THE FORECAST DOES NOT PROVIDE OR OFFER ANY INDIVIDUALIZED, CUSTOMIZED OR PERSONAL INVESTMENT ADVICE TO ANY INDIVIDUALS OR ENTITIES. AT ALL TIMES, MEMBERS BEAR FULL RESPONSIBILITY FOR FINANCIAL, INVESTMENT AND TRADING DECISIONS. MEMBERS SHOULD SEEK THE ADVICE OF A QUALIFIED INVESTMENT PROFESSIONAL BEFORE MAKING ANY INVESTMENT DECISION.

The Forecast offers information, research, educational content, articles, alerts, bulletins, newsletter items and other conveyances of information that constitute the Services. The Forecast is a publication that is available to the general public via subscriptions. The Forecast provides market commentary, market analysis, and insights, as well as general investment education, and identifies particular trades that it believes will result in gains in value, but it does not provide investment advice, whether customized or otherwise.  The Forecast does not owe a fiduciary duty to anyone, and is not aware of any members’ financial situation, risk appetite or other investment preferences or parameters.