(Monday) Crypto and Bitcoin Livestream

Boxmining avatar Boxmining
23.9K views 409

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

The crypto market is currently experiencing an "insane" boom, with altcoins like Binance Coin and Ripple seeing monumental gains, while Bitcoin and Ethereum battle at crucial resistance levels. This period is heavily influenced by the global economic climate, particularly the fear of hyperinflation, alongside the growing impact of social media and institutional investments. The video highlights the importance of understanding market cycles, managing risk, and staying updated on new projects to navigate this highly rewarding yet volatile landscape.

Here's a deeper dive into what's happening:

* Market Explosions and Bullish Outlook:
* Binance Coin (BNB) has surged past $500, a level that was unimaginable just six months ago, making past predictions of holding it for the long term seem incredibly prescient.
* Bitcoin (BTC) is touching $60,000, and Ethereum (ETH) is nearing its $2,100 resistance, both engaged in a "big battle" where selling pressure is immediately met by strong buying interest.
* This consistent buying on dips signals that buyers are "not giving up," leading to an expectation that once sellers are "exhausted," Bitcoin and Ethereum could see a 20-30% price increase.
* On-chain data confirms that the number of people selling Bitcoin by moving it to exchanges is declining, indicating a robust underlying demand.
* Past attempts by miners to "spook the market" to trigger sell-offs have largely ceased, as people are no longer falling for such tactics.
* The market's upward trajectory is primarily fueled by the global risk of hyperinflation, driving people to assets like Bitcoin, and the continuous social media promotion by figures like Elon Musk.
* Profits were taken from some holdings but quickly reinvested, convinced that the market's current momentum, backed by social media influence and hyperinflation fears, shows no signs of stopping this year.

* Institutional Money and the Altcoin Phenomenon:
* There's been a significant surge in large crypto VC deals in 2021, doubling those from 2020, with more dedicated crypto funds and family offices (like MicroStrategy, Alphabet, Genesis Block Ventures) entering the space.
* These large funds are finding it hard to deploy their capital into small, new projects, which often have tiny raises, leading them to pour money into existing altcoins. This trend is causing existing alts to "explode left, right, and center."
* Ripple (XRP) breaking above $1.00 is a key indicator of surging "retail interest" and FOMO, reminiscent of past market cycles.
* The altcoin season index is consistently hitting and breaking new highs, indicating "insane growth" in the altcoin market. While historically such peaks would signal a time to sell, the utility of altcoins has "vastly expanded" into areas like DeFi and NFTs, suggesting the traditional market cycle might be "broken" this year.
* Profits were selectively taken from altcoins that have already achieved "30 to 100x" gains, while exposure was increased in promising altcoins that haven't yet seen massive movements.
* Crust, a project that had been previously highlighted, surged from $3 to $173, illustrating the "total insanity" and immense gains possible in this market.
* Holding through tough times is crucial; for example, VeChain (VET) was ridiculed as a "VeScam" when its price dropped but went on to achieve a 37x gain last year. This demonstrates the determination needed to succeed in the high-risk, high-reward crypto space.

* Navigating Risk and Market Psychology:
* Success in this market demands a delicate balance of "controlling your greed" and being rational, while also "having some balls" to take calculated risks.
* It's essential to structure investments such that the failure of one asset doesn't lead to financial ruin, recognizing that even with good research, some projects may fail.
* The "insanity" of crypto means that one highly successful project can potentially offset losses from numerous others that don't pan out.

* Specific Projects and Ecosystem Trends:
* Binance Coin (BNB) & Exchange Ecosystems: The continuous 17% daily rise of BNB is causing "impermanent loss" for those providing liquidity in BNB-paired pools, leading to a dilemma about pulling funds out. This highlights a trend for exchange tokens like KuCoin Token (KCS), which saw a 150% rise in seven days.
* Binance Smart Chain (BSC) is flourishing with projects like PancakeSwap, which has risen to $26 from a low of 30 cents. BSC offers faster and significantly cheaper transactions than Ethereum, making it a compelling alternative for decentralized applications and NFTs, even though it is more centralized.
* Solana (SOL): Positioned as FTX's incubated blockchain, Solana is quickly gaining traction, with an increasing number of projects launching on its network, aiming to replicate BSC's success. Exposure to Solana has recently been increased.
* Elrond (EGLD): Rose to $236, leveraging Rust for its smart contracts (more secure but slower to develop) and featuring full sharding for scalability. It holds strong potential as a dominant DeFi platform.
* VeChain (VET): A long-term holding focused on enterprise adoption, particularly for anti-counterfeit solutions and supply chain management. It utilizes unique, encrypted RFID/NFC chips (not easily replicated barcodes) to verify authenticity and track items, from luxury goods to vaccines, providing a robust solution for supply chain integrity. Its recent growth is attributed more to institutional development than just retail hype.

* New Project Launches and Investing Strategies:
* New projects are performing exceptionally well due to their low initial valuations and rapid post-launch growth.
* Popular launchpads include Kickpad (Myst upcoming), PolkaStarter (Genesis Shards, EPNS, Poker Dex, Sierra Network), and Duck Starter.
* A "backdoor way" to participate in the Disbalancer launch is by holding and staking Hacken (HAI) tokens on the Hacken launchpad, though it's oversubscribed, leading to proportional allocation.
* TrustSwap (SWAP) is launching CalVPN, requiring a minimum stake of 4,000 SWAP.
* Ethernity Chain (ERN) is an NFT platform with upcoming developments.
* Polkafoundry (PKF) has partnered with Apron Network to provide decentralized node services, easing development.
* DAO Maker (DAO) is hosting a strong holder offering for Ispolink.
* Parastate recently completed a successful $5 million strategic funding round.
* A critical warning is issued about rampant scams impersonating launch platforms or offering "secret backdoor deals" for allocations; always verify sources and only use official platforms.
* Despite the presenter feeling "fatigued" by the overwhelming number of new projects, staying on top of developments is crucial for finding new opportunities.

* Tools for Market Analysis:
* Nansen: A tool for tracking whale trading activity, including inflows and outflows of projects on exchanges and movements within whale wallets, providing insights into a coin's "health."
* Dune Analytics: Another widely used data analysis platform.
* Zerion Wallet with Watch Wallets: A more basic method that allows users to monitor specific "whale" wallets, observing their trading patterns to potentially identify early investment opportunities.

Transcript

Oh, yeah, it's a Monday morning here in Hong Kong, bright and early. And man, the markets are just blowing up. It's been pretty insane the past week, especially if you look at Binance Coin. If you look at Ripple this past week. Yeah, there is a lot going on. I think, you know, the comment I said was, you know, if I told people, you know, six months ago that Binance Coin was going to hit 500, right? They would have just looked at me funny and be like, you crazy? You're absolutely bonkers, right?...