A Crypto Price Crash Looms! 💥

Helping EVERYONE to make better crypto investment decisions.

Many have been asking, so for the next 30 days, for new yearly subscribers of our substack updates, we will send a signed copy of the book ‘Crypto Titans: How trillions were made and billions lost in the cryptocurrency markets” to their postal address (no extra shipping and handling fees).

👇 1) For several months, we have favoured Bitcoin over Altcoins, given the increase in Bitcoin’s dominance from 38% to 48% in 2023. This year, the crypto market has displayed rapid fluctuations, with Bitcoin generating most of its returns within three weeks due to three key events. Firstly, Bitcoin prices surged in January due to weaker US inflation data. Then, in March Bitcoin rallied as Binance moved their BUSD holdings into Bitcoin. Finally, in June, Bitcoin rallied again when news of Blackrock’s application for a Bitcoin ETF surfaced.

👇 2) While Bitcoin has shined, higher beta cryptocurrencies have largely underperformed. The reason is quite straightforward; the inflation (macro) event had a positive impact on the entire crypto market, the latter two events were Bitcoin-specific. Ether topped out on April 17, while Bitcoin peaked on July 14. This divergence underscores that the news about Blackrock’s ETF had minimal impact on Ether prices, and failed to benefit Altcoins significantly.