Crypto Briefing 4/26/22 - The Forecast

Crypto Briefing 4/26/22

Crypto Briefing 4/26/22

Bitcoin is continuing to follow a volatile chart pattern and will likely need more time to consolidate. We still project a sizable move occurring into June. As we see this whipsaw take place in the crypto market, sentiment amongst market participants will continue to oscillate between extremes. For example, the Bitcoin Fear and Greed Index shows the sentiment of the market, and we will soon see a reversal from fear to greed coinciding with Bitcoin’s rally.

When viewing the Bitcoin price chart, it becomes apparent that more consolidation is necessary before we see a move higher. As the NASDAQ and SPX recover from their recent decline, price action should begin to move higher. Even though this is a precarious time in global markets with rising interest rates and declining economic output, there will still be an opportunity to profit from our altcoin positions. 

Casper still remains one of our top holdings in our altcoin portfolio. Early adopters of Bitcoin and Ethereum were able to create generational wealth. There are millions of success stories in the crypto market, but they all share one common thread: the investors who benefited were the ones who got in early.  Ever since Casper was released to the public in 2021, it has consolidated from $0.07 to $.12. Even though the Casper blockchain has been live for only a year, it has incredibly strong fundamentals. For instance, fortune 500 companies are in talks to leverage Casper in addition to China’s blockchain service network. Casper’s chart mirrors the early days of projects such as Solona, and its inevitable move has the potential to be just as powerful.