Altcoins

Expert Says You Can Still Become a Crypto Millionaire This Cycle

Published

7 months ago

18 June, 2024

Expert Says You Can Still Become a Crypto Millionaire This Cycle

The Altcoin Daily host claimed that investors in the crypto market still have a good chance of becoming millionaires during this cycle.

In a recent analysis, the community expert sought to reassure investors in a current bear market. Notably, Bitcoin failed to hold the $70,000 mark reached last week and instead fell significantly to retest $65,000.

This development has triggered considerable angst among altcoin holders. Compounding this sentiment, some figures in the crypto community are suggesting that Bitcoin may have reached its cycle peak, with some predicting a drop to $48,000.

However, Altcoin Daily highlighted that the market remains in an uptrend, suggesting that people looking to become millionaires still have a good chance. He supported his view by citing leading industry commentators who are confident that Bitcoin could reach as much as $200,000 by next year.

Bitcoin peak not yet reached

The presenter first referred to analysts at multibillion-dollar asset management firm Bernstein, who recently revised their Bitcoin price forecast to $200,000 by next year, up from $150,000 previously. Additionally, Bernstein analysts predict that Bitcoin could exceed the million dollar mark by 2033.

To underline the importance of this projection, Altcoin Daily highlighted that Bernstein’s business involves advising high net worth individuals on lucrative investments. Essentially, he pointed out that Bernstein is now incentivizing these high-net-worth clients to view Bitcoin as a significant investment, forecasting a potential target of $1 million within nine years.

This bold forecast is notably supported by the expected rise in Bitcoin. demand for spot ETFs issued by giants like Fidelity and BlackRock.

3 bullish factors for Bitcoin

Additionally, the Altcoin Daily host cited Zach Pandl, CEO of Grayscale, who explained why Bitcoin will advance significantly this year. Pandl identified three major trends driving this optimism:

The Federal Reserve’s interest in lowering rates as inflation falls.
Steady demand for Bitcoin ETF spot products.
More favorable political trends for the asset class.

“I don’t see a major change in these trends today. So I think we can retest the all-time highs over the course of this summer. » remarked Pandl.

While acknowledging that the speed at which Bitcoin reaches this all-time high depends on various factors, Pandl sees no reason for current trends to change in the near term.

Additionally, Altcoin Daily referenced Coinbase CEO Brian Armstrong’s revelation that 56% of Fortune 500 companies are now engaged in on-chain activities. Armstrong cited BlackRock’s move to tokenize real-world assets, JP Morgan’s blockchain initiatives with Onyx, Google Cloud’s acceptance of crypto payments and PayPal’s work with stablecoins.

In essence, Armstrong asserted that crypto is here to stay, and that the world’s largest companies are increasingly adopting it.

Altcoin Daily also cited the opinion of Bitwise CIO Matt Hougan, who argued that crypto and Bitcoin have become mainstream with Wall Street’s adoption, which would only fuel more bullish momentum.

A whale buys BTC in billions of dollars

In addition to these bullish opinions from industry commentators, the Altcoin Daily anchor cited the channel to reinforce the bullish sentiment. At the top of the list was the accumulation of BTC by whales.

Specifically, he highlighted a steady upward trend in flows to renowned BTC accumulation addresses, supported by data showing a recent purchase of $1.3 billion in Bitcoin. He noted that this contradicts bearish outlook arguments.

Additionally, he highlighted Bitcoin’s chart from last summer, showing how the asset significantly broke out of a prolonged consolidation phase.

Crypto Millionaire Mindset

As a result, he stressed that investors need patience in the current difficult times.

Meanwhile, the community expert noted that the bullish sentiment transcends Bitcoin. He highlighted that altcoins like Ethereum are now at the forefront, supported by the impending trading of Ethereum Spot ETF expected to start in July. He also cited projections that Ethereum would reach $12,000 at the top of this cycle.

As a result, Altcoin Daily pointed out that with the prosperity of Bitcoin, Ethereum, Solana, Chainlink and many other top projects, money will likely flow to small-cap coins and meme coins, where the majority are located. retail investors.

He suggested that a wealth transfer would occur as many look for alternative assets capable of generating returns above 4X, while ETH and BTC could peak at around 2X. He pointed out that this phenomenon occurs every time Bitcoin exceeds an all-time high (ATH).

“All crypto-millionaires know this little trick” » submitted the Altcoin Daily host.

Disclaimer: This content is informational and should not be considered financial advice. The opinions expressed in this article may include the personal opinions of the author and do not reflect the opinions of The Crypto Basic. Readers are encouraged to conduct thorough research before making any investment decisions. Crypto Basic is not responsible for any financial losses.

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Altcoins

Long-Term Impact of Ethereum ETF on Cryptocurrency Market

Published

6 months ago

29 July, 2024

CoinFlix Staff

Long-Term Impact of Ethereum ETF on Cryptocurrency Market

Popular crypto analyst Michael van de Poppe has highlighted his altcoin portfolio approach in light of the new Ethereum ETF. In a recent Youtube videoThe analyst explained the measures he would take for this major market event.

The Ethereum ETF was listed on the stock exchange and it took time to get approval and so far there has been no significant change in price. The analyst pointed out that the long-term effect could be quite significant, comparing it to the situation of the Bitcoin ETF where the initial decline was followed by large inflows.

According to Van de Poppe, the Ethereum ETF’s trading volume on the first day of trading was about 25% of the volume Bitcoin ETF He noted that the first day of trading was marked by low inflation, and said there was a net inflow of $150 million to $160 million, which reduced the available supply.

Altcoins are poised for growth

The analyst said that as Ethereum adoption increases in the future, the supply of Ethereum will decrease, which is a deflationary model. Ethereum is up about 15% since the ETF approval, the broader market reaction has yet to happen as several sell-offs have taken place, including the Grayscale Trust.

Van de Poppe also mentioned other important market events, including the end of Mount Gox The process of repaying creditors initially caused tensions in the markets, but had little effect subsequently. It also highlighted the role of macroeconomic factors, which can lead to Fed rate cuts, which can affect markets.

In this regard, looking at van de Poppe’s strategy, he is still keen to trade within the altcoins of the Ethereum ecosystem. He stated that there is a possibility of short-term price fluctuations that may discourage many people, but the long-term still looks good due to the improvement and adaptation that has been made to Ethereum and its environment.

According to the analyst, substantial inflows could propel Ethereum towards new historic highs with estimates ranging from $5,000 to $7,000. Despite the current market fluctuations, he is confident that macroeconomic changes and greater liquidity will be favorable for altcoins.

He explained that his broad approach to altcoins, especially those associated with Ethereum, will be beneficial because the market will react differently to these events. The basis for his optimism comes from the fact that he believes that Ethereum and all associated projects are still extremely undervalued and have the potential to skyrocket as sentiment changes.

Looking ahead and market adjustments regarding the Ethereum ETF and other macroeconomic factors, the analyst remains bullish on altcoins. He suggested investors stay informed and believe that in the ever-changing world of crypto, they will eventually be rewarded.

Fuente

Altcoins

Altcoins Are Severely Undervalued, Awaiting Ethereum Move | Flash News Detail

Published

6 months ago

28 July, 2024

CoinFlix Staff

IntoTheBlock Releases Report on Institutional DeFi Trilemma

Disclaimer

Disclaimer: Blockchain.news provides content for informational purposes only. Under no circumstances shall blockchain.news be liable for any direct, indirect, incidental or consequential damages arising out of the use of, or inability to use, the information provided. This includes, but is not limited to, any loss or damage resulting from decisions made based on the content. Readers should conduct their own research and consult professionals before making any financial decisions.

Fuente

Altcoins

Altcoins Correct Amid ETH Decline, Grayscale Outflows | Flash News Detail

Published

6 months ago

28 July, 2024

CoinFlix Staff

Disclaimer

Fuente

Altcoins

Epic Altcoin Rally Expected for August and September

Published

6 months ago

28 July, 2024

CoinFlix Staff

Crypto analyst predicts massive altcoin rally similar to Q1 2024, urging patience and accumulation.
Bitcoin’s potential as a reserve asset and its technical patterns suggest that it will drive the rise of the cryptocurrency market.

Captain Faibik, a renowned crypto analyst, has created excitement in the cryptocurrency sector with his latest prediction. He indicated that we are on the cusp of a massive altcoin rally, similar to the one we saw in Q1 2024.

We are on the verge of a massive Altcoin rally, similar to Q1 2024📈

Keep accumulating and hold with patience. (Patience will be rewarded)

The majority of #Altcoins have already hit rock bottom and are about to escape.

In my opinion, August-September is going to be epic for Altcoins.🚀🚀#Crypto pic.twitter.com/cMdHagiaYc

— Captain Faibik (@CryptoFaibik) July 24, 2024

Accumulating and Holding Altcoins: The Path to Potential Profits

He stressed the need to accumulate altcoins and hold them patiently, as it will eventually pay off. According to him, the majority of altcoins have already bottomed out and are about to break it. He believes August and September will be epic months for altcoins.

In a chart posted by Captain Faibik, the overall crypto market cap, excluding Bitcoin and Ether, known as TOTAL3, is approaching the upper boundary of a descending channel pattern.

This context suggests a potential breakout and a significant rally towards the $1 trillion mark. Technically, the decline since mid-March is interpreted as a corrective trend for the value of TOTAL3, signaling a preparation to enter a rally structure.

Bitcoin’s influence and legislative developments suggest good prospects for the future

Furthermore, based on sentiment and technical patterns, Bitcoin, the world’s leading cryptocurrency, appears poised to lead the charge in the cryptocurrency market. Bitcoin’s performance often sets the tone for the market as a whole, and a strong move in BTC could trigger a significant rally in altcoins.

Previously, as we have already said reportedSenator Cynthia Lummis said she plans to introduce a bill at the upcoming Bitcoin conference that would require the Federal Reserve to hold Bitcoin as a reserve asset.

If this law passes, the US will treat BTC as a long-term investment rather than selling huge amounts infrequently, which could disrupt the market.

In addition, asset management firm VanEck has proposed a bold scenario in which Bitcoin Price Could Reach $2.9 Million Per BTC By 2050based on its fundamental outlook. Matthew Sigel, head of digital assets at VanEck, and senior investment analyst Patrick Bush noted that their estimate is based on Bitcoin’s adoption as a global medium of exchange and reserve asset.

As Bitcoin price increases, altcoins are expected to gain popularity, indicating the start of a bullish rally shortly after the BTC halving event.

Meanwhile, at the time of writing, the price of BTC was hovering around $67,007.99up 4.67% over the past 24 hours following a short-term correction.