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Prior to the DoJ’s recent FUD (Fear, Uncertainty and Doubt) and US stock market weakness-induced pullback in Bitcoin and broader cryptocurrency markets On Wednesday, the crypto trading crowd experienced its second most bullish week in sentiment in the past 14 months, crypto analytics firm Santiment revealed in a chart. shared on Twitter on Thursday.

From the 17e of January, Santiment’s Bitcoin The Weight Social Sentiment Index (BWSS), which is released weekly, had jumped to 1.219. The jump coincides with Bitcoin’s recent rally north of the $21,000 level for the first time since before the abrupt collapse of Sam Bankman-Fried’s FTX/Alameda crypto trading empire.

Santiment’s BWSS index will likely drop a little next week if Bitcoin is unable to rally back north of the $21,000 level. BTC/USD last changed hands in the $20,700 range. Prices are currently being held down by some very late profit taking, with the 14-day Relative Strength Index (RSI) recently hitting its most overbought level since the start of 2021.

But there’s every chance that Santiment’s BWSS will remain high near multi-month highs amid growing signs that Bitcoin’s bear market may be over.

Bitcoin Bulls Bet The Bear Market Is Over

In 2022, Bitcoin bulls were caught in a number of bear market traps – this is where, after an extended decline, the market teases the bulls with a small rally, sucks them in again, then starts again to lower. Bitcoin’s bulls were caught on the wrong foot as US and global inflation rose more than expected, prompting major central banks like the Fed to tighten financial conditions much more aggressively than expected.

Not only did 2022’s aggressive rate hikes force investors out of speculative assets like crypto and dampen global economic growth, but changing macro conditions triggered a painful deleveraging cycle in speculative corners of the world. crypto industry, starting with the collapse of unsustainable ecosystems. like Terra and highly leveraged hedge funds like Three Arrows Capital before culminating in the collapse of FTX in November.

But from a macro point of view, 2023 should be very different. The room for further rate hikes from the Fed appears to be minimal, with inflation already falling back towards the central bank’s target faster than expected and US growth receding. In recent months, financial markets have increased their bets that the Fed will eventually cut interest rates toward the end of 2023 and into 2024.

Strategists believe this could give crypto prices some breathing room in 2023, as the sector has seemingly eliminated most of the speculative excess accumulated in 2020 and 2021. As a result, many strategists felt that “this rally is different” from the bear market traps of 2022.

And many technical and on-chain indicators support this idea. Bitcoin is back above its 200-day moving average and its realized price – both are slightly below $20,000 and both are considered key psychological levels.

After a long period in the red, Glassnode’s Net Unrealized Profit/Loss (NUPL) has returned to positive territory, which essentially means that the average wallet on the Bitcoin network is once again in profit. Typically, a recovery of the NUPL indicator into positive territory after an extended period in the red signifies that a new bull market has begun.

Meanwhile, according to analysis by pseudonymous crypto-focused Twitter account @CryptoHornHairs, Bitcoin could be at the start of a bull market that could last nearly 1,000 more days.

Alternative.me’s Bitcoin Fear & Greed Index also recently moved back above 50 and out of “Fear” territory for the first time since last April. An extended rally above 50 (which has yet to be seen) has usually occurred in tandem with the start of a new Bitcoin bull market. From the 19e of January, the index was at 45 and is just coming back in “Fear”.

Altcoins to consider

Cryptocurrency markets have been doing well since the start of 2023, but the longer-term bear market still remains in play. Investors could still consider diversifying their holdings with the discounted presale tokens of some promising crypto projects and promising. Here is a list of a few that Cryptonews.com analysts believe have the potential to do well.

Fight Out (FGHT) – Presale Now

The young mobile cryptocurrency niche has shown a lot of promise, but early success stories like STEPN have significant limitations that have, until now, prevented them from reaching mainstream audiences. Billing itself as the future of the movement to win, Fight Out wants to change that in 2023. Fight Out is a brand new web3 fitness app and gym channel that rewards its users for training, challenging and competing. in a first-of-its-kind fitness metaverse.

While existing M2E apps such as STEPN only track steps and require expensive non-fungible token (NFT) purchases to participate, Fight Out takes a more holistic approach to tracking and rewarding its users for their exercise and activity, and do require expensive buy-ins to participate. Fight Out seeks to combine the physical and web3 worlds.

The project aims to eventually acquire gyms in every major city in the world, while simultaneously promoting an integrated web3 fitness experience. At the center of Fight Out’s digital ecosystem will be its smartphone app which, according to the Fight Out white paper, is expected to launch in the second quarter of 2023.

The Fight Out app will leverage smartphones and wearable technology to measure and track physical performance. The app will have its own in-house tokenized economy, where users can earn rewards for completing M2E tasks, and can create their own soulbound token avatar, through which the user can interact with the Fight metaverse Out.

FGHT is the token that powers the Fight Out metaverse ecosystem. Users will pay to participate in competitions and leagues with FGHT, and winnings will be paid out in FGHT.

FGHT can also be used in peer-to-peer fitness betting. Fight Out FGHT tokens are currently selling at 60.06 for 1 USDT, and interested investors are encouraged to act quickly to secure their tokens, as the pre-sale has already raised almost $3.05 million in just a few weeks. FGHT is the token that will power the Fight Out crypto ecosystem.

Visit Fight Out now

Calvaria (RIA) – Presale almost over

RIA, the token that will power the afterlife fantasy-themed NFT battle card game Calvaria, is also currently on presale. The play-to-earn (P2E) crypto gaming startup has raised nearly $3.0 million in just a few months since launching its pre-sale. Only about 8% of his tokens remain up for grabs.

Calvaria is looking to bring crypto gaming into the mainstream by tapping into a huge existing market – the market for physical battle card games (think viral sensations of the past like Pokemon and Yu-Gi-Oh). And with the crypto gambling space set to grow from $4.6 billion in 2022 to $65.7 billion by 2027, according to analysis by Markets and Markets, there is plenty of room for massive growth. Calvaria is expected to launch its fantasy-themed card game “Duels of Eternity” in the second quarter of 2023.

Visit Calvaria here

C+Charge (CCHG) – Presale now underway

The carbon credit industry should be worth $2.4 trillion by 2027. Democratizing access to rack up these benefits is going to drive massive business in the years to come and it’s something crypto startup C+Charge hopes to achieve. C+Charge is currently building a blockchain-based Peer-to-Peer (P2P) payment system for EV charging stations that will allow electric vehicle (EV) drivers to earn carbon credits.

C+Charge aims to reinforce the role of carbon credits as a key incentive for the adoption of electric vehicles. Right now, big electric vehicle makers like Tesla are making millions selling carbon credits to polluters. C+Charge wants to democratize the carbon credit market by allowing more of these rewards to end up in the hands of electric vehicle owners, rather than just large corporations.

C+Charge has just launched its presale of the CCHG token that its platform will use to pay at EV charging stations. The tokens are currently selling at $0.013 each, but by the time the presale ends, that will have increased by 80%. Investors interested in jumping into a promising eco-friendly cryptocurrency project early should act quickly, as the project has already raised over $320,000 in just a few weeks since the presale kicked off.

Investors should note that the remaining tokens could be recovered quickly. A crypto whale recently scooped over $99 from CCHG in a single transaction, as can be verified here at BscScan.

Visit C+Charge here

Meta Masters Guild (MEMAG)

Meta Masters Guild is an up-and-coming Web3 mobile gaming ecosystem that claims to create fun and addictive games that use non-fungible tokens (NFTs), allowing community members to earn rewards, as well as wager and trade. Development of the game is already underway, with the team set to launch its first Meta Karts title in the coming months.

The promising crypto gaming startup is currently conducting a presale of its MEMAG tokens and has already raised a whopping $651,000 in just a few weeks. The tokens are currently selling at $0.007 each. According to some observers, this is a godsend. Moreover, this price will have risen to $0.023 by the seventh leg of the presale, meaning that early investors could be sitting on paper gains of over 300% by the end of the presale.

Visit Meta Masters Guild here.





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