Crypto Briefing 7/15/22 - The Forecast

Crypto Briefing 7/15/22

Crypto Briefing 7/15/22

When it comes to Bitcoin and the crypto space, it is our expectation that once we begin to see the next leg lower for stocks, Bitcoin should follow. $18,000 remains a critical support level, and should we break down from this range then it is possible we test $13,000 to $15,000.  Markets traditionally move contrarily to the herd’s expectations. While many talking heads are calling for a bottom in crypto, the additional pressure we expect to see in stocks should make for some excellent entry points.

Upon the completion of this pullback, we are looking to make an aggressive entry into HBAR. Hedera has some of the strongest fundamentals in crypto and in the short term it has the potential to reach $0.03 depending on the magnitude of the pullback. HBAR’s previous all time high was at $0.50 and we are now seeing it at reasonable levels for an entry, which could yield significant returns.  Meanwhile, Quant continues to be an outlier in crypto as it continues to move up despite overall market conditions. Should Quant reach $40 to $50 upon this pullback, it would be an excellent entry. When you consider the strength of Quant’s price action to the rest of the market, it is very possible that QNT could be one of the best performing crypto’s of 2022. Furthermore, due to its scarce supply, there are rumors circulating that some crypto exchanges may even be out of QNT.  We have been calling for a September/August bottom for quite some time now, and major news headlines are starting to confirm this hypothesis. Ethereum developers are preparing to merge ETH into a proof-of-stake network, which should dramatically increase the scalability of Ethereum. So long as gas fees are reduced as a consequence of ETH 2.0, the entire crypto space should have the jolt it needs for an end-of-year rally.