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Reflecting on 2023: A Stellar Year in Crypto!
Welcome to the last Weekly Report for 2023,
As we bid farewell to 2023 and welcome the advent of 2024, it's an excellent time to look back and gauge the progress in the cryptocurrency market as we step into a fresh chapter. Indeed, the past year has been remarkable for the cryptocurrency world.
Bitcoin led the charge in 2023, witnessing an impressive surge of over 160% in its price bringing the entire cryptocurrency market with it. Some notable Altcoins to mention during this year are the growth in Solana and its meme coin, Bonk.
- Bitcoin +160%
- Ethereum + 91%
- Solana +925%
- Bonk +7,302% (Solana Ecosystem)
In 2023, the crypto market also witnessed significant upheavals, including:
- The collapse of major banks like Silicon Valley Bank and crypto-centric Silvergate Bank, led to wider financial instability.
- Sam Bankman-Fried was found guilty of various charges related to the collapse of FTX.
- Binance and its founder faced legal scrutiny and hefty fines from U.S. authorities for violations of anti-money laundering laws and other financial regulations.
These events marked a tumultuous year for the crypto sector with substantial legal and financial repercussions, meanwhile, the upward trajectory seen in the cryptocurrency market reflects a broader trend of resurgence and positive sentiment within the cryptocurrency sphere.
Looking into 2024
As we look toward 2024, anticipations are high for a landmark year in the crypto market, primarily driven by the expected SEC approval for Spot Bitcoin ETFs. This move is poised to open the floodgates for institutions to enter the cryptocurrency ecosystem. Additionally, the anticipated Bitcoin halving around mid-April is predicted to act as a catalyst for further market upswings, as has been historically observed.
At Altcoin Investor, we're forecasting that the market will begin its ascent early in the year, likely spurred on by the early approval of Spot Bitcoin ETFs which would lead to a massive inflow of institutional money into the cryptocurrency space.
The SEC's approval of Spot Bitcoin ETFs, coupled with the Bitcoin halving event is expected to significantly amplify the already bullish crypto sentiment.
Looking ahead, 2024 stands to be an extraordinary year for Bitcoin and the wider cryptocurrency market.
Wishing everyone a Prosperous New Year!
Best Wishes,
Richard.
Join Us - As We Accumulate
Now is still an excellent time to get into the market while prices are still relatively low. If you want to know what we are buying, you are more than welcome to join us as we share our monthly Altcoin picks in anticipation of the upcoming bull run - You just need to become a member.
Richard.
Top 100 Trending Altcoins:
The crypto market is full of green again this week.
Today's Crypto Fear & Greed Index:
Today's Crypto Fear and Greed Index = Greed –> Decreased to 67 (from 74).
Bitcoin & Ethereum Price Movement
Bitcoin decreased 3.47% in the last week, currently trading at $42,345. In the previous 90 days, Bitcoin has increased by 21.7%.
Ethereum decreased 0.53% in the last week, currently trading at $2,299. In the previous 90 days, Ethereum has increased by 26.2%.
Global cryptocurrency market capitalization has decreased to $1.65T (from $1.67T last week).
Top 100 Gainers - Last 7 Days
Over the last 7 days, the biggest gainers (within the top 100):
Bitcoin SV (BSV) +82.8% - Ranked #46
Bitcoin SV (BSV) is a cryptocurrency that originated from a hard fork of Bitcoin Cash, aiming to closely align with the original vision of Bitcoin as stated by Satoshi Nakamoto. It focuses on scalability through larger block sizes, protocol stability, robust security, and promoting safe instant transactions.
The project is known for its controversial claims by proponents like Craig S. Wright, who asserts he is the original creator of Bitcoin and has sparked debate within the cryptocurrency community for its technical and ideological decisions. Despite controversies, BSV has a dedicated community and continues to develop its network and infrastructure.
Sei (SEI) +65.9% - Ranked #57
Sei (SEI) is a Layer 1 blockchain specifically designed for trading and decentralized finance applications, with an architecture optimized for high-speed order matching. It aims to cater to the trading sector, addressing challenges like fragmented liquidity and inefficient asset management.
The project is developer-friendly, focusing on tools and an environment for efficient application development. Sei seeks to build a robust community and network to support its specialized approach, offering potentially improved performance for trading platforms and financial applications in the blockchain space.
ORDI (ORDI) +51.5% - Ranked #54
ORDI is a project that uses the Ordinal Protocol on the Bitcoin network to inscribe content such as text, images, audio, and video onto individual satoshis, effectively creating a form of NFT or token within the Bitcoin ecosystem without needing a separate token or side chain (BRC-20).
Tellor (TRB) +47.7% - Ranked #95
Tellor (TRB) is a decentralized oracle network that provides secure and reliable real-world data to smart contracts on the Ethereum blockchain. TRB is the native token of the Tellor ecosystem, used as a stake by data providers who submit data and as an incentive for validating data accuracy. It aims to address the need for trustable data sources in decentralized finance (DeFi) and other blockchain applications.
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):
- CREO +3,406% - NFT Gaming Platform (Nano-Cap)
- KEX +2,731% - Trustless Computing (Micro-Cap)
- EPIKO +1,544% - Metaverse & Ecosystem (Nano-Cap)
- SEILOR +892% - SEI Liquid Staking (Micro-Cap)
- VAB +796% - Think "Netflix" for Crypto (Nano-Cap)
Monthly Altcoin Pick:
In a few days we will be releasing our next 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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