Crypto Briefing 4/29/22 – The Forecast

Crypto Briefing 4/29/22

Crypto Briefing 4/29/22

Poor earnings from major tech companies have strained Bitcoin’s price. We are still seeing a period of consolidation occur, but this will change when the stock market reverses shortly. Bitcoin has continued to hold up above major support at $38,000, and we do not expect to see it break lower than this range.  Altcoins continue to dive lower and are at excellent entries. The altcoin market is more susceptible to volatility than Bitcoin, and some of our favorite alts have seen declines of 20%. We do not believe that the current prices reflect the fundamentals of these projects, as they are poised to disrupt a multitude of trillion dollar markets.

For example, the company Ripple has become a major player in the cross-border payment market. Services such as Ripple Net enable banks to settle nearly instantaneous transaction with the use of pre-funded payment accounts. However Ripple’s main service is On Demand Liquidity, which, through XRP, provides a similar settlement time without pre-funded accounts. Currently there is $27 trillion in trapped liquidity in such accounts, and XRP has the potential to dominate this market and become highly sought after. XRP is an asset that requires extreme discipline to hold, but it has historically delivered some of the best returns.

Hedera Hashgraph is another one of our favorite altcoins with ties to major companies such as Google, Ubisoft, LG, and Boeing. HBAR is a more sustainable version of Ethereum with transaction fees that are fractions of a penny. Hedera will likely be a major player in the emerging metaverse and micro-payments space.  Elon Musk also recently Tweeted out the coin’s logo, further increasing its relevance and publicity.  We feel confident that Hedera will find its bottom near $0.16. When Bitcoin begins to move up again, coins like HBAR and XRP will see decisive recoveries.