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It's the End of Q1 - And it's More Important than you Think!
At the end of the first quarter of 2024, a time when large asset managers rebalance their portfolios by cutting the poorly performing assets and reinvesting into the winners.
The beginning of this year also marks something that these asset managers have never been able to do before - that is to buy Bitcoin (via the Spot Bitcoin ETFs).
Since January of this year, Bitcoin is up over 55%!
So what are these asset managers going to be buying more of?
And while these large asset managers will be buying more Bitcoin...so will China.
Meanwhile, in China...
China is also coming after Bitcoin. In Q2 of this year, China is scheduled to go live with their Spot Bitcoin ETFs which will likely result in a similar effect as we have seen with the SEC's approval of Spot Bitcoin ETFs in America.
China is a country and culture that believes heavily in investing...especially in real estate. However, with the recent collapse of Evergand and since 2021, both property sales and property developments have fallen drastically in recent years.
Investors in China, a country historically focused on investing in gold and real estate, are now looking for alternative assets. With the upcoming approval of Spot Bitcoin ETFs in China, many investors will move their investments to Bitcoin.
To put into perspective how influential the Asian market is in crypto, about 70% of the trading volume of Bitcoin came from South Korea and China last year!
Combining the falling returns in the global stock markets, a declining Chinese real estate market, and the recent approval of Spot Bitcoin ETFs, make it a perfect opportunity for many of these investors to move into Bitcoin, further pushing the price up.
Bullish for Bitcoin
We are only 20 days away from the Bitcoin halving event, which historically has always resulted in new all-time highs for Bitcoin.
Combining the increasing volume in Spot Bitcoin EFTs we are seeing in the US, the upcoming approval of Spot Bitcoin ETFs in China, and overall positive market sentiment, the signs are very bullish in the upcoming weeks and months for Bitcoin and the crypto market overall.
Join Us - As We Move into Run-Up Phase
The price of Bitcoin is now sitting above the $70k mark and while this may sound like a lot of money for a single Bitcoin, we believe this is just the beginning of what will become one of the biggest growth opportunities we have seen in the crypto space for at least the last four years.
If you haven't already started diversifying your portfolio with crypto, it's still not too late. Now is an excellent time to enter the market while prices remain relatively low.
If you want to know what we are buying, you are welcome to join us as we share our monthly Altcoin picks in anticipation of the upcoming bull run - Become a member to gain access.
Richard.
Top 100 Trending Altcoins
Lots of green in the market this week!
Today's Crypto Fear & Greed Index
Today's Crypto Fear and Greed Index = EXTREME GREED –> Increased to 79 (from 75 last week).
Bitcoin & Ethereum Price Movement
Bitcoin increased 10.5% in the last week, currently trading at $69,781. In the previous 90 days, Bitcoin has increased by 60.6%.
Ethereum increased 6.7% in the last week, currently trading at $3,517. In the previous 90 days, Ethereum has increased by 50.6%.
Global cryptocurrency market capitalization has increased to $2.62T (from $2.49T last week).
Top 100 Gainers - Last 7 Days
Over the last 7 days, the biggest gainers (within the top 100):
Core (CORE) +104.6% - Ranked #99
The Core (CORE) project is a Layer 1 blockchain compatible with the Ethereum Virtual Machine (EVM), making it suitable for running Ethereum smart contracts and decentralized applications (dApps). It uses a unique "Satoshi Plus" consensus mechanism, to balance scalability, security, and decentralization.
Core was launched in January 2023 and is governed by a decentralized autonomous organization (DAO), CoreDAO, although the identities of its founders and key contributors are not publicly disclosed.
dogwifhat (WIF) +83.1% - Ranked #34
Dogwifhat (WIF) is a meme cryptocurrency based on the Solana blockchain, gaining attention and popularity within the crypto community. It features a trendy internet meme of a Shiba Inu dog with a pink hat. Launched in late 2023 with limited liquidity, its prominence rose significantly in early 2024 after being supported by major exchanges like Kucoin and Binance.
This support boosted its market cap and trading volume considerably. Despite its speculative nature and lack of inherent utility or detailed project plans, the community has embraced Dogwifhat as a speculative asset driven by market trends and narratives.
Mantle (MNT) +49.2% - Ranked #37
Mantle (MNT) is a Layer 2, EVM-compatible blockchain built on the Ethereum network, aimed at modularizing blockchain operations to enhance user experience without compromising on security and decentralization. It leverages optimistic rollups, EigenLayer's EigenDA for data availability, and multi-party computation to improve transaction speed and reduce costs.
Mantle facilitates faster and cheaper transactions by batching them and ensures a secure network through a novel combination of technologies. Its architecture allows for efficient communication with the Ethereum mainnet, promising a significant boost in performance
Pendle (PENDLE) +48.1% - Ranked #97
Pendle (PENDLE) is a decentralized finance (DeFi) platform that enables the trading of yield-generating assets. It allows users to tokenize and trade future yield, which is a novel concept in the DeFi space. This means users can lock in yield farming or lending returns ahead of time by selling the rights to them in the form of tokens. Conversely, investors can buy these tokens to speculate on the future yields of various DeFi protocols or to secure a fixed income stream.
The platform uses an automated market maker (AMM) model similar to other DeFi protocols for facilitating trades. Pendle's unique approach to yield tokenization and trading aims to add liquidity and flexibility to the DeFi yield market, making it easier for users to manage and speculate on their investments.
Biggest Micro-Cap Gainers in the last 30 days
We review and analyze small and micro market cap cryptos weekly, looking for the next low-cap gem. These are the best-performing (quality) micro-cap projects over the last 30 days:
Best Performing Quality Micro Caps (Last 30 days)
- SERSH +5,126% - Multi-chain data storage (Micro-Cap)
- ART +1,481% - Buy/Sell Art on the Blockchain (Small-Cap)
- LIME +1,054% - iMe Messenger & Crypto Wallet (Micro-Cap)
Meme Coins
Meme Coins, are cryptocurrencies inspired by internet memes, humor, and or online communities. Overall the meme coin sector has continued to perform well this week.
However, as fun and novel as these projects may be, the majority of meme coins have no intrinsic value and often suffer from pump-and-dump schemes. While we don't recommend investing in these types of coins, it is always interesting to watch this sector perform in a bull market.
Top Performing Meme Coins
Meme coins continue to soar again this week. The largest meme coin gainer is Doge Eat Doge, at over +20,311% in the last 30 days.
James Anderson
Monthly Altcoin Pick
In the next few days, we will announce the April Altcoin Pick.
If you would like access to this and future monthly Altcoin picks, consider becoming a member - It's only the price of a few cups of coffee a month.
Altcoin picks are emailed to members as soon as they are published. If you are wondering how we choose our monthly Altcoin Picks, this is the methodology we use.
Our Altcoin Picks for the prior months can be found here.
Thanks and appreciation to all our members!
Until the next report,
Richard.
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