Crypto Briefing 4/8/22 - The Forecast

Crypto Briefing 4/8/22

Crypto Briefing 4/8/22

In our prior briefing, we warned of some short term volatility in Bitcoin and we are now seeing just that take place.  This week Bitcoin declined from $45,000 to the $43,000 level, which now marks new major support. Even though Bitcoin is likely to remain sideways into next week, altcoins can still see strong swings so long as BTC remains supported. Our next short term peak will be with the broader stock market during the latter half of April.

Yesterday it was announced by the HBAR Foundation that they would be providing a $250 million dollar grant to companies developing metaverses on Hedera. The metaverse represents a trillion dollar opportunity, and will meld reality, social media, and gaming into one seamless experience.  Hedera is the most suitable network for metaverses because of the high transaction output the network is capable of, alongside its institutional connections. The companies that sit on Hedera’s Governance Council include multi-billion dollar giants like Boeing, Google, LG, and Ubisoft.  Hedera Hashgraph is one of our highest conviction longterm holds, and we feel strongly that it will have a longterm place in the crypto industry. While coins like CSPR represent a higher ROI opportunity in the short term, Hedera has the potential to become a top 10 coin in the future. Hedera will enable builders to tokenize assets, leverage micropayments, and have state-of-the-art security. HBAR has just formed a low at $0.20 and is at an excellent entry point.  HBAR is our #3 highest conviction altcoin behind XRP and CSPR.  Over the next several years, a price target of $5-$10 would not be the slightest bit surprising.