Crypto Briefing 4/2/24 – The Forecast

Crypto Briefing 4/2/24

Crypto Briefing 4/2/24

Bitcoin continues to consolidate on the weekly chart, and we believe there is a possibility that it will continue to churn sideways for several more months before moving another leg higher. It is unlikely that we see BTC retest $50,000, with $60,000 now being a strong base level of support.  Today we want to discuss narrative plays that can be made during the 2024/2025 crypto bull market. Historically the crypto market experiences rapid levels of innovation and adoption during bull markets. In previous cycles, we have seen products like liquidity pools, NFTs, and meme coins reach their crescendo. Even now people are adopting the Solana network so that they can speculate on meme coins native to that network. Over the next one and a half years we expect to see Game-FI tokens to become rapidly adopted in the crypto space. Markets by their very nature are forward-looking, and because of this money tends to move into projects that excite people’s imaginations and greed the most. We expect to see gaming-related projects to cash in on the excitement that NFTs generated in 2021. Additionally, the best gaming projects in the crypto space did not just close up shop during the crypto winter, but allocated the time to build out their visions. 

While there are many gaming-related projects that you can diversify into we feel that GALA has the highest probability of performing well in this cycle. Since it is still 90% from its previous all-time high, we feel that there is a sizeable margin of safety in this coin.  Speculating in altcoins is similar to buying real estate, in the sense that you make your money when you buy. If you purchase an altcoin when it is at a new all-time high, you are asking to lose the principal you invested. It is important not to overpay for these assets, and not risk more money than you are willing to lose. As we have said from our first briefings, buy them when they sleep, sell them when they leap.