📰 Is a Parabolic Move Coming Soon?
💎 Top Narratives of Q1 - What Next?
💥 Tokenless Projects That May Launch Soon!
📢 Solana's Zeus Network Valued at $100 Million, Powell Bearish on Rate Cuts, and MORE!
💭 Giveaway Incoming!
Good Morning Degens,
Wormhole (W) went live yesterday and as with all new token launches it had a volatile start. It’s currently at $1.17 with a Market Cap of $2,120,772,810 and a Fully Diluted Valuation (FDV) of $11,782,071,168. That means the MC/FDV ratio is a low 0.18. Yikes!
Meanwhile, the market is chopping everyone up. I’ll tell you this, I’m even starting to get a little bit of bearish sentiment from within the Banter team. And that is bullish if you ask me. As Ran has been saying, we need people to be scared for this correction to be a real correction.
Me, I’m numb, and watching my portfolio dump 33% in two weeks is trivial because I believe it will go up again. I’ll back that up with some evidence and show you a chart that predicts an extremely parabolic move soon.
Let’s dive in!
🌍 Market Catch-Up
Top 100 coins Daily Performance - Banter Bubbles
📰 Question of the Day
Is a Parabolic Move Coming Soon?
Probably…
Firstly, the Bitcoin CME gap everyone was worried about at $64,100 has been filled. And, we just got the second consecutive day of positive net inflows into the Bitcoin spot ETFs, coming in at $114 million.
And Gold is printing an ATH… Could Bitcoin - aka digital gold - follow?
“Ok! Are we in a bull market or are we all just delusional?”
Let’s first explore this question.
So, the second red dot (that indicates a bull market) has just appeared on Plan B’s Bitcoin Market Cycle model below. This model has been accurate for the most part, and Plan B is no joke, with nearly 2m followers on X.
People trust Plan B’s models.
Nothing is definite, but we rely on probabilities. The probabilities say we are in a bull market according to this.
“But Bitcoin is going down! Surely it is all over!”
There is evidence to back the fact that we are nearing a local bottom.
Here we see how short-term investors (maybe after trying to make a quick buck) are selling back into the market at a loss. According to the chart we are seeing panic selling levels that usually mark a local bottom.
So, let’s assume this is also true.
“Yeah, but we’ve lost momentum now!”
Below are the Bollinger bands on Bitcoin. They measure volatility. Usually when they tighten up, what follows is an explosive move - not necessarily up, however. All we know is that an explosive move should be imminent.
Which way it goes depends on the current overall sentiment in the market. As far as I can tell, the sentiment remains bullish and this is indeed a bull market. So the move, if you ask me, will be upwards.
And it could be insane!
And as if that isn’t enough, I’ll show you the chart I promised you further up to tie it all together. Here we see Bitcoin’s parabolic curve chart. Every time it touches the curve it (you guessed it!) goes parabolic!
Do with this info as you will.
💎 Degens’ Den
Top Narratives of Q1 - What Next?
Here we see the top performing narratives of Q1 in crypto.
The top 8 most profitable crypto narratives in 2024 so far:
Memecoins - 1313%
Real World Assets (RWAs) - 286%
Artificial Intelligence (AI) - 222%
Decentralized Finance (DeFi) - 99%
Decentralized Physical Infrastructure Networks (DePIN) - 81%
Layer-1s (L1s) - 70%
Gaming - 64%
Layer-2s (L2s) - 39%
Anyone could have guessed that memecoins would be at the top of that list seeing as they are all anyone's been talking about for the last few weeks. But how could anyone have known that beforehand? They couldn't have.
But, markets are all about probabilities. So tell me this, what is more likely now:
Memecoins run even further, leaving the other narratives completely in the dust.
The other narratives now have their time in the spotlight.
Personally, I’ll be looking towards the strong narratives that haven’t yet run.
For example, the L2 narrative.
VanEck is predicting that Ethereum (ETH) L2 valuation will total $1 trillion by 2030. It won’t happen overnight if it does. It will be a slow grind-up. And it could begin in the 2024 bull run.
And as for AI…
Remember how Fetch.ai (FET), SingularityNET (AGIX), and Ocean Protocol (OCEAN) are merging their tokens into one: the Artificial Superintelligence Alliance (ASI) token? They just released their official Vision Paper! Together each of these projects complements each other. Ocean Protocol can be seen as the data layer, Fethch.ai as the execution layer, while SingularityNET can be seen as the go-to decentralized AI model marketplace for a unified AI ecosystem.
AI is not just a crypto narrative. In fact it is more a real world narrative than a crypto one. And news like this will surely help out with the narrative. 👇
💥 Best Alpha Posts of the Day
Tokenless Projects That May Launch Soon!
Here are some projects without tokens that could soon be launching (some of them have already closed private sales).
As The DeFi Investor outlines in their post, new shiny coins usually outperform old coins in a bull market.
Here’s the list. It might be a good idea for us to follow these projects on X.
Fantom x DeFi… Again!
We were definitely spot on with the thesis that Fantom is going heavy on the Decentralized Finance (DeFi) narrative.
Fantom has just announced their next angel investor for Fantom Sonic: Fernando Martinelli, CEO of Balancer Labs. Balancer is a decentralized AMM protocol and yield hub for DeFi liquidity with $1.25b in assets.
All announced angel investors for Fantom Sonic so far have been routed heavily in DeFi.
Bullish!
🐸 MEMEoirs of a Degen!
📢 Biggest Announcements
Solana's Zeus Network Raises Funding at $100 Million Valuation for Interoperability Layer
Jerome Powell Indicates Rate Cuts Unlikely Until Inflation Confidence Improves
Coinbase Collaborates with Lightspark to Integrate Bitcoin Lightning Network
💭 Banter’s Take
We will soon be running a giveaway right here in Good Morning Crypto. It will be announced within the next few issues…
You definitely don’t want to miss it! By the way, you might want to note this code down 😉: 8HIRJIDT
See you all tomorrow!
Excellent... As always💚💚💚💚