(Wednesday) Crypto Livestream: Will we go back to Bitcoin all time highs?

Boxmining avatar Boxmining
15.8K views 541

Description

Latest Bitcoin, Ethereum, and Cryptocurrency news and trends. We take a look at the key events affecting the blockchain sector and review market movements. Combining both fundamental analysis and tech...

AI Analysis

This livestream dives into the rapidly heating-up cryptocurrency market, particularly focusing on the burgeoning altcoin season. The market feels fantastic, with Bitcoin and Ethereum showing strong support and steady growth, which is allowing altcoins to really shine.

Here's a breakdown of the key topics and insights:

* Overall Market Health & Altcoin Season:
* The crypto market is currently "fantastic" and "heating up," with strong rallies across Bitcoin and Ethereum.
* Bitcoin recently bounced strongly off the $45,000 support level and is holding around $54,000, indicating a very healthy market.
* Ethereum is also performing well, reaching $1,800 with solid support at $1,300.
* When Bitcoin and Ethereum are steady, it signals the start of "altcoin season" where smaller cryptocurrencies see significant gains.
* Many altcoins are performing incredibly strong, like Polygon (MATIC) which is up 35% after its rebranding, and Avalanche (AVAX) showing significant dominance.
* Enjin (ENJ), a project followed since 2017, has performed exceptionally, seeing a 5x increase from its previous mention as a "medium bag."

* Shifting Investment Strategies & Market Psychology:
There's a notable shift in how larger crypto funds operate: they are increasingly taking positions in already launched* projects, not just early-stage seed rounds. This is a big positive for the existing altcoin ecosystem.
* The market optimism is bleeding in from traditional markets, influenced by economic recovery hopes and massive US dollar printing over the past year and a half. This influx of printed money has been a major driver for crypto rallies.
* It's expected that companies that survived the pandemic will emerge stronger, like Tesla, which has been making significant crypto investments. This trend is being followed by major Chinese tech companies like Meitu.
* Looking at the Bitcoin Rainbow Chart, which tracks Bitcoin's historical movement, if patterns repeat, Bitcoin could reach $140,000-$160,000 in this bull market. The presenter humorously notes he started mining Bitcoin in 2012 at $10 but "sold early like an idiot."
* The Altcoin Season Chart confirms we're in a period where altcoins are outpacing Bitcoin's gains.
* Bitcoin whales (large holders) bought the recent dips aggressively, with orders for 100+ BTC hitting all-time highs. This suggests that the fear generated by supposed miner sell-offs (like the F2Pool narrative) was likely intentional to allow big players to accumulate at lower prices. Miners typically sell directly to funds like Grayscale at a premium, not exchanges.
* The presenter employs a dollar-cost averaging (DCA) strategy for long-term "hodl" positions (Bitcoin, Ethereum, VeChain), buying in during bear markets and starting to DCA out during the current "orange" phase of the bull market, though not aggressively yet.
* VeChain (VET) has been a strong performer recently, rewarding those who "held strong" through the bear market, now at $0.06 (equivalent to $6 before its 1:100 split).
* For volatile altcoins, he switches to an "ape brain" mode, jumping into new projects due to the high innovation and potential for aggressive returns in the current "ape market." He emphasizes focusing on the "bigger picture" and overall trends to avoid stress from minor price fluctuations.

* Key Project News & Developments:
* Southeast Asia's First Bitcoin Fund: The BCMG Genesis Bitcoin Fund One is launching, allowing institutional and traditional investors in Southeast Asia to easily gain exposure to Bitcoin. This is crucial for a region that "needs" crypto for remittances and economic growth, potentially making it the "next Korea" in terms of adoption.
* Furucombo & Meerkat Finance Compensation: Furucombo is issuing iouCOMBO tokens to victims of its $15 million exploit, where hackers stole funds from users' wallets. This highlights the experimental nature of DeFi and the crypto community's efforts to compensate users after hacks. Similarly, Meerkat Finance victims reportedly received around 95% of their stolen funds back after the developers were caught.
* Coinbase IPO: Coinbase is going public with an estimated $100 billion valuation. This is a huge legitimizing event for crypto, as Coinbase has taken a regulatory-compliant approach, making it easy for new users to enter the space. Its success will generate significant hype and encourage interest in other crypto services.
* HAPI: This is an on-chain cybersecurity protocol using trustless oracles to prevent hacker attacks and track illicit funds. It's like Chainlink but for hack data, crucial for law enforcement and preventing money laundering on decentralized exchanges. The presenter is an investor and praises its close relation, Hacken, for building diligently through the bear market and now securing partnerships with major exchanges like FTX.
* ChainGuardians: An NFT gaming project launching its IDO (Initial DEX Offering) on Polkastarter. It's creating a game where unique NFT characters can be used, gamifying the crypto experience and building a compelling story around digital assets.
* DuckStarter & Launchpads: The presenter highlights a "mania for launchpads," seeing new opportunities like PolkaFoundry, KeyTango, Lepricon, and Ethbox. He encourages doing thorough research and noting that whitelisting is often required to participate in these early-stage offerings.
* Refinable (briefly mentioned): An NFT project that the presenter is working closely with, with more details to come soon.
* PAID Network Incident: The presenter discusses the sudden drop in PAID token value due to a massive creation and dump of tokens, likely an "inside job" due to breached private keys. While expressing sympathy for those who lost money, he advocates for more positive discourse in crypto, criticizing the tendency to "throw shade" or label projects as scams without full context. He reflects on his own journey, almost becoming a "Bitcoin maximalist" in 2017 due to widespread scams, but ultimately choosing to focus on genuine innovation.
* LABS Group: A real estate tokenization project aiming to fractionalize property ownership, making it accessible to more people. The presenter was initially skeptical due to legal complexities but notes their strong security approach. He sees potential for it to be a "crazy play," especially with current opportunities like tokenizing Phuket resorts that are "bleeding" due to lack of tourism, creating a unique investment opportunity for post-COVID recovery.
* SuperFarm ($SUPER): The presenter believes SuperFarm will do "super well," dismissing "scam" accusations as noise from "salty investors" who missed out on allocations. He praises EllioTrades, the founder, as a genuinely nice guy.
* Vite ($VITE): A low-cap coin that has recently exploded. The presenter has been a long-time holder due to its novel concept of "free transactions." Instead of paying gas fees, users can opt for a small Proof of Work calculation (taking seconds) to prevent spam, or stake VITE for higher quotas and instant transactions. He finds this approach innovative and highly valuable for adoption.

Transcript

started let's go on live let us get started and we just click the live stream button welcome back guys to another episode of box money live stream where we cover everything about cryptocurrencies those bitcoins those eath well right now the market is just fantastic these two days this week has been heating up quite a lot so we're going to take a look at what's happening on the markets the cryptocurrency market caps we're going to take a look today and focus on a lot of these alts we have altcoi...