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CRYPTO MARKET UPDATE
The crypto market is going wild.
Bitcoin just hit a new all-time high of $70,083 (on March 8th), the Fear and Greed Index is at a high of 84 - Extreme Greed, meme coins are taking off and Bitcoin ETFs have exceeded over $10B in trading volume.
Although the market is full of green, within 6 hours of Bitcoin hitting its new all-time high, its price dropped by more than 12% to just over $61,000.
For many new crypto investors, this can be a roller coaster of uncertainty, especially with such as large percentage dip in an otherwise bull market.
However, as a cryptocurrency investor, it's important to realize that pullbacks of 10%, 20%, and even 30% should be seen as normal and healthy within the cryptocurrency market.
These pull-backs wipe out a lot of the late leverage positions and weak hands in the market, which in turn and over the long run, helps to crypto market to become stronger and more resilient.
Now that Bitcoin has reached a new all-time high, we can expect to see some pullbacks in the price of Bitcoin and the overall market as a whole.
As a point of reference, Bitcoin has increased in price by +50% in just the last 30 days!
We are still only 37 days until the Bitcoin halving event and with the continued increase in Bitcoin ETF trading volume as well as continued positive market sentiment, we expect to see Bitcoin continue to hit new all-time highs in the upcoming weeks and months.
Join Us - As We Prepare for the Run-Up
The price of Bitcoin is now sitting above the $68k 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
Continuation of the prior week's trend - 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 84 (from 80 last week).
Bitcoin & Ethereum Price Movement
Bitcoin increased 9.5% in the last week, currently trading at $68,255. In the previous 90 days, Bitcoin has increased by 55.9%.
Ethereum increased 13.2% in the last week, currently trading at $3,889. In the previous 90 days, Ethereum has increased by 65.9%.
Global cryptocurrency market capitalization has increased to $2.58T (from $2.31T last week).
Top 100 Gainers - Last 7 Days
Over the last 7 days, the biggest gainers (within the top 100):
FLOKI (FLOKI) +169% - Ranked #55
Floki (FLOKI) is a cryptocurrency inspired by Elon Musk's Shiba Inu, aiming to create real-world change through blockchain in fun and innovative ways. It focuses on community, utility, and charity, developing projects like Valhalla, a play-to-earn NFT Metaverse, and FlokiFi, a suite of decentralized finance products. Floki also emphasizes education with the University of Floki, aiming to onboard new users to Web3.
Pepe (PEPE) +130% - Ranked #37
PepeCoin (PEPE) is a unique meme coin inspired by the Pepe the Frog meme. Unlike typical dog-themed meme coins, PEPE aims to be the "most memeable meme coin in existence." It was launched in mid-April 2023 and quickly drew attention for its potential for significant returns, despite its association with various internet trends.
Bitcoin Gold (BTG) +121% - Ranked #95
Bitcoin Gold (BTG) is a cryptocurrency that emerged from a hard fork of Bitcoin in 2017, aiming to decentralize mining by making it more accessible to the general public using common graphics cards, as opposed to the specialized ASICs used for Bitcoin mining. This initiative was led by a community-driven effort, emphasizing a more democratic distribution of Bitcoin Gold.
Shiba Inu (SHIB) +101% - Ranked #10
Shiba Inu (SHIB) is a decentralized cryptocurrency, launched in August 2020 by an anonymous individual or group known as "Ryoshi." It was inspired by the Shiba Inu dog breed and positioned as a potential Dogecoin competitor. SHIB gained attention when Ethereum co-founder Vitalik Buterin donated over 50 trillion SHIB to the India COVID-Crypto Relief Fund in May 2021. The currency experienced significant price fluctuations, highlighting both its popularity and the volatile nature of meme coins.
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)
- FAKEAI +10,850% - Telegram Bot DeepFake AI (Nano-Cap)
- LIZA +2,021% - AI Powered Web3 (Micro-Cap)
- METAL +1,625% - Multiplayer Shooter Game (Micro-Cap)
- AIN +707% - Bringing AI to Web3 (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 and PepeSol, a meme coin built on the Solana blockchain, a project which aims to create a fun and engaging community alongside developing unique utilities has increased by more than 19,997% in the last 30 days.
Monthly Altcoin Pick
Last week we released our March Altcoin Pick a Layer-1 AI Powered Oracle.
This project uses AI to gather, verify, and provide external (real-world) data from smart contracts. This new functionality is a game changer when it comes to the automation and self-execution of smart contracts. You can learn more about AI-powered Oracles here.
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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