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Big News Incoming
The most significant news happening for crypto investing is taking place at 2 pm today when the FOMC will publish its policy decision regarding interest rates.
Over the last month, it's not just Bitcoin, but all the major markets are down and their future trajectory will largely be determined by the results of this meeting happening today.
Although we believe the markets have priced in 'no chance of a change' in interest rates, a change in the interest rates, either up or down would have a significant impact, with an increase being bearish and a decrease in the interest rates being bullish.
Considering the drop we have seen in the markets over the last month, it could be presumed the logical approach for the FOMC would be to decrease interest rates however, we will not know until the policy is officially announced.
Why I'm Buying Bitcoin
The news today offers crypto investors the opportunity to play in the volatility these types of news events can cause.
If we look at the price performance of Bitcoin, over the last year it has increased more than 100%, from $28,000 to today at around $56,900.
Although, in the last month, the price of Bitcoin has dropped considerably from its all-time high, the current price offers a good buy-in opportunity (January 2024 prices).
Depending on the FOMC news today, we can expect a quick recovery in the price of Bitcoin or if the news is bearish, a further drop in the price.
Over the longer term, I do expect to see the price of Bitcoin recover with new all-time highs for Bitcoin (and many altcoins) occurring in the second half of this year.
Join Us - As We Move into Run-Up Phase
It's official - The Bitcoin Halving has taken place and although Bitcoin has dropped back down to $56,900, we are now officially in the run-up phase, a once-in-every-four-year opportunity.
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
An absolute sea of red this week...except for Helium!
Today's Crypto Fear & Greed Index
Today's Crypto Fear and Greed Index = NEUTRAL –> Decreased to 54 (from 66 last week).
Bitcoin & Ethereum Price Movement
Bitcoin decreased 11.9% in the last week, currently trading at $56,945. In the previous 90 days, Bitcoin has decreased by 7.3%.
Ethereum decreased 15% in the last week, currently trading at $2,881. In the previous 90 days, Ethereum has decreased by 15%.
Global cryptocurrency market capitalization has increased to $2.14T (from $2.42T last week).
Top 100 Gainers - Last 7 Days
Over the last 7 days, the biggest gainers (within the top 100):
Helium (HNT) +33.6% - Ranked #98
Helium (HNT) is a decentralized blockchain network designed to support wireless communication for Internet of Things (IoT) devices. It uses a unique "Proof-of-Coverage" consensus mechanism to verify the reliability and location of nodes, called Hotspots, which facilitate data transfer. Hotspot owners earn HNT, the network's native cryptocurrency, by providing network coverage and data transmission services. Launched in 2019, Helium aims to create an efficient, cost-effective alternative to traditional cellular networks, supporting widespread IoT deployment.
Pepe (PEPE) +18.8% - Ranked #37
Pepe (PEPE) is a meme cryptocurrency linked to the Pepe the Frog internet meme. Launched in April 2023, it operates on the Ethereum blockchain as an ERC-20 token and employs a deflationary model. The coin features a redistribution system rewarding holders with a share of transaction fees and utilizes a burning mechanism to reduce its total supply. PEPE quickly garnered a significant following, becoming notable in the meme coin category for its rapid market cap growth and strong community support. Despite its meme-based nature, PEPE remains part of the broader trend where internet culture significantly impacts cryptocurrency value and adoption.
Bonk (BONK) +17.8% - Ranked #59
Bonk (BONK) is a meme coin launched on the Solana blockchain, distinguishing itself as the first dog-themed cryptocurrency in this ecosystem. It gained attention through an initial airdrop and quickly soared in value due to strategic token burns and listings on major exchanges like Coinbase and Binance. Bonk promotes a community-focused and equitable approach, aiming to distance itself from the "toxic" tokenomics seen in some venture-backed crypto projects. Bonk integrates with over 350 projects across various sectors within Solana, enhancing its utility and presence. However, Bonk's anonymous creators and the volatile nature of meme coins add a layer of risk.
Hedera (HBAR) + 15% - Ranked #27
Hedera (HBAR) is a public network that utilizes the hashgraph consensus mechanism, which provides faster transaction speeds and greater security compared to traditional blockchain systems. The native cryptocurrency, HBAR, is used to power applications, secure the network, and handle transaction fees. Hedera is distinguished by its robust governance, maintained by a council of leading organizations, ensuring stable and decentralized network management. It supports a variety of applications, including decentralized finance (DeFi), secure messaging, and enterprise solutions, aiming to serve as a cost-effective, high-throughput platform for diverse industries.
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)
- ZYN +1,013% - Africa's First native blockchain (Micro-Cap)
- MAZZE +227% - Layer 1, 40,000 TPS, PoW-based DAG (Micro-Cap)
Meme Coins
We love to hate and hate to love meme coins. These projects are frowned upon by most serious investors because they don't have any intrinsic value however, meme coins are responsible for more crypto millionaires than any other sector in the crypto market.
If you are looking for the next +100x altcoin, chances are it will be a meme coin.
Top Performing Meme Coins
Meme coins across the board, as with much of the crypto market have dropped in the last week. Yet, we can still see some of the extraordinary gains some of these tokens have made. The biggest gainer for meme coins in the last 30 days has been .....ANDY ETH (ANDY) +19,932% (30d).
What is the Next 100x Meme Coin?
The next 100x meme coin is not likely a project you will hear about on Twitter, TikTok, or Facebook. If it is already trending on social media, then it's likely already too late as the buying opportunity for 100x gain has passed. Here's how to find the next 100x meme coin.
Anna Petrov
Monthly Altcoin Pick
Within the next week (depending on market conditions), we will release our Altcoin Pick for May. 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.
