The bitcoin price, like the entire cryptocurrency market, is back in the red, but some whales are still filling their bags despite warnings that the bitcoin price could fall even further below $40,000. Should you buy bitcoin? Should you buy altcoins? So guys, if you want to earn from 200% up to 2,000% APY, just copy best traders with an official broker of the Binance exchange, Jet-Bot, that is launched since 2019.
Bitcoin watch & news
What I want to share with you is that we are still getting a lot of mixed signals in the market. It’s really crazy to kind of look at what is happening right now because bitcoin whales are still filling their bags despite the fact that right now, at the time of this recording, we’re sitting at $39,500, approximately going up and down.
And I know there are a lot of people out there saying that we could break down, and this is very, very possible. If bitcoin breaks down, you know a lot of these other coins are going to break down with it. So what I want to share with you today is simply that there’s too much unknown. I think that you need to be prepared for both situations.
I felt a lot more confident, if I’m being honest, all the way back here in late July because we still had a few different narratives that I thought could bring bitcoin to new all-time highs, and that’s exactly what we ended up doing, but then we have just been in this massive downtrend. We have slowly kind of climbed out of it, but again, this could just be a gigantic trap. However, there are a lot of other signs too that could be bullish for Bitcoin.
One of the most significant is crypto. The Russian government is reviewing and finalizing a cryptocurrency bill. Anthony Pompiano tweeted out the breaking news that Russia’s government and central bank have just reached an agreement on cryptocurrencies according to Russian Kommersant, and both organizations will treat bitcoin in crypto assets as currencies.
But again, we still don’t have all the information just yet. It does not seem to me that they’re actually legalizing payments just yet either, but this was a speculated rumor because, well, there’s been a lot of sanctions on Russia due to the war, and they need to actually make payments and just get money across and do things, so they’re probably going to legalize crypto. That’s what people were thinking, but again, nothing has actually been confirmed just yet.
And then, in other bitcoin news, I wanted to share with you that over the weekend, $1.2B worth of Bitcoin flowed out of Coinbase to cold wallets, so why am I sharing this news with you and why is it relevant?
In fact, Bitcoin here for the last year has really been trading sideways, doing nothing. If you had bought Bitcoin a year ago, you would have gone nowhere. But if you had bought BNB XRP, Solana, Luna, Cardano, and a lot of these other cryptocurrency coins, you’d still be in massive profits today.
So let me share with you now a brief update on the market. You can see that all coins are definitely going to get hit harder if bitcoin is also going down, but to me, this is where the opportunity potentially lies.
All-in Altcoin
So I want to share with you now the one Altcoin that I’m going all in on and that is going to be XRP.
Last week, Ripple secured a big win in its lawsuit against the SEC and we did see some very nice price action a few days ago. I wanted to share with you some other information. The judge presiding over the SEC law case with ripple denied an SEC motion for reconsideration of the deliberate process privilege regarding a set of emails and draft versions of speech made by the SEC director, William Hinman.
So what does this mean? Well, in other words, it means that the SEC will now have to release these emails and draft versions of the 2018 speech. So you might be saying, “I don’t even know what this is about.” I don’t even care what this is about. Why does this matter? ” It matters because earlier in the month, the non-profit organization’s empowerment oversight publicized a separate set of internal SEC emails that contained evidence of improper conduct by the SEC.
If we take a look at the price of XRP right now, it is sitting at 74 cents and if we ever take a look back just a few days ago, we had a nice little bump up right around 83 cents, but you can see on the chart here we’ve virtually been trading sideways for quite a while. We went all the way up to $2 and we came all the way back down to 60 cents and we’ve been in this consolidation pattern for quite a while and I do believe we are consolidating and everything is going to be pending upon XRP’s case against the SEC.
If they win it tomorrow and it gets relisted everywhere, I think this coin is going to go absolutely nuts, especially in a bear market. I truly do think right now we are in a bear market. There are multiple different indicators that lead me to believe this, so ultimately, I’m not going to go all in on this cryptocurrency right here right now, but I am going to start accumulating more of it just in case.
What does that mean? Well, in this case, since it is an Altcoin that’s got a little bit of a higher market cap, to say the least, sitting at 35 billion, how I go about actually buying this cryptocurrency in smaller increments. It’s more of a dollar cross-average strategy, even though I’m not a big dollar cost average guy. What I will do is start rolling some of my Altcoin profits from other projects into coins like this one that I think have better opportunities to make money.
This is cryptocurrency two that I will be taking and just buying with fiat currency and other sorts of profits, so this is the one that I personally am accumulating. Full disclosure here, I do own some XRP, but again, I truly do think this one is going to absolutely go crazy.
Where to get this coin
If you go to the market cap right now, you can see that there are a lot of exchanges that you can get this crypto on and you can see right now that there’s cracking and there’s a couple other exchanges that will allow you to buy it. One of the easier exchanges to buy on right now that I believe U.S citizens are allowed to buy on is KuCoin. The rest of these you may not be able to buy as a US citizen. There are a few other exchanges that you can buy on as a US citizen, but personally, I try to use the bigger exchanges because I already have them set up.
If you do want to buy XRP, that’s exactly how you do it. All you need to do is click on the market tab, find the different exchange that you would like to use, and then you can see all the different pairings. A lot of them are either with Bitcoin or USDT, some of them are with just USD, but then you basically go to that cryptocurrency exchange and that’s where you can buy this coin, but you can also sell it.
Let’s get into some rapid fire Altcoins that Plutonian is going to be listing and launching tomorrow. The trailer looks absolutely incredible to me and these are the time-sensitive details and alerts.
Rapid-fire Altcoins
Let’s talk about Plutonian. Plutonian’s private sale offering on the Savannah launch pad and alpha decks will be starting very soon, and the IPSO will begin on April 18th at 13:00 UTC.
We also have some other breaking news and announcements. The Plutonian token generation event will occur tomorrow, which is going to be Tuesday the 19th of April, and if you did get into this pre-sale, congratulations. Make sure to check the vesting schedules for the claimers of seed, private or strategic, and some other public rounds as mentioned in this article.
There is the medium article, where you can see the token generation event date and how you can claim it. There are two tokens for this project, and your tokens should be ready to claim at 1 pm UTC. You’re also going to be able to stake your token to earn an amazing NFT spaceship, and there’s so much more that this project has to offer. Again, it is so important to do your own research on these projects, and please understand that these new cryptocurrency projects are incredibly risky.
What does that mean? Well, right now I believe that we’re in a bear market, and so for a coin like this, even with a hundred thousand followers, they have some incredible partnerships such as StarLaunch, Kaizen.Finance, and many other things going for it. I just think this project looks really, really cool, but that does not mean that it’s going to pump to the moon tomorrow.
Let me give you an example of this. If you choose Axie Infinity, you can see right now one Axie token is at 44 dollars, but if I go ahead and click on the max chart, you can see that for a very long time, Axie Infinity was trading under a dollar. I’m talking months and months and months that this was trading under a dollar, then it finally went over a dollar. If you take a look at the chart all the way back here, you can see that it had a nice little steady incline, but for a lot of it. It was very flat. What does this mean? Give these projects time to develop. That is the most important thing.
I think so many of us are fixated on the day-to-day. What all these coins are going to do is that it can get a little bit discouraging if some of your coins are down or if they’re not pumping to the moon. Let me give you another example here.
If you take a look at Cardano 90 cents, this is a top 10 cryptocurrency coin with billions of dollars in market cap, at $29B. If you take a look at the max chart here, you can see that Cardano in the last bull market went to $1.8. Then in the bear market, it had a nice little bump to 36 cents. It flattened out and it went all the way down to 2 cents. The all-time low was actually 1.9 cents. That is literally a 98% loss if you had bought all the way at the top here at $1 and held all the way down here to 2 cents. If you had just kept holding onto this cryptocurrency coin, you would have gone from 2 cents to 4 cents. If you bought it for 2 cents. This is crazy, because this was like super low back in March of 2020. This is when we had that massive capitulation. If you take a look, we went all the way from 2 pennies to 3 dollars. Okay, it was absolutely crazy that the all-time high went to 3 dollars and today we’re sitting at 90 cents. So if you had bought it at 2 cents, you’d be up 45 times your money right now, even though we’re down 72%.
So timing is very important with these cryptocurrency coins, which is why I share all of these time-sensitive details, alerts, and updates on these projects with you because if you’re able to get in early on these things and they actually do well, this could be these opportunities where you can multiply your money even just a couple of times, which is absolutely insane when it comes to a lot of other markets right now, but please understand the risk is much higher. So higher risk equals higher rewards, but it also means you get the volatility, like I just showed you with Cardano, a billion dollar cryptocurrency coin.
So it is not uncommon for these micro-cap coins to fall by 90% or more for some of these that are in the millions or just starting out in the hundreds of thousands, actually pretty normal in cryptocurrency.
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You can see that a lot of people, unfortunately, do very similar things. They end up selling at the bottom. Like somebody sold here at the bottom of 2 cents of Cardano. That happened for somebody, but then somebody else bought here and the price went all the way back up to 10 cents and beyond just a few months later.
So please do understand the risk reward with these cryptocurrency coins. And also, not every single project is going to do what Cardano has done. Some of these projects will just never make it. They’ll never get the funding that they need, but they’ll never get the development that they need. This is very, very common. In fact, a majority of the cryptocurrency Altcoins will do this.
Other crypto projects
Seedify has a lot more projects coming up. Just a few days ago, we talked about the realms of Ethereum. They have the Moon Metaverse and many others coming very soon. Speaking of other projects’ listings very soon, PolyPad is incubating more projects and it was ranked number seven in the top 10 cryptocurrency coins on coin get go. It has been a trending cryptocurrency coin.
If you take a look at the price, you might be saying to Joe, “What happened to PolyPad?” Well, there’s so much cell pressure because if you were to understand the tokenomics, people who have KCCpad and TronPad tokens are taking a lot of profits from those coins by transferring them over and then selling the PolyPad tokens. The Polypad went all the way up to 20 cents at the initial launch and then came crashing down. You can see here on CoinGecko that it said its all-time high was actually 12 cents, but this is wrong because the data was not actually collected at the time of the listing. But what’s my point with all of this? My point with all of this right now is that incubators and launch pads do offer you a unique opportunity, but you have to be able to recognize where we’re at in the market and what that opportunity is.
It is very important that you do your homework and your research. This is done to ensure that loyal KCCPad and TronPad community token holders have access to guaranteed allocations. They have done guaranteed allocations for everyone except for Kappa, which has a 1 lottery tier ticket system.
Now again, the more that you stake and hold, the higher the pool weight is going to be, but again, it’s very risky to get into some of these cryptocurrency coin projects because we do not know what is going to happen in the near future with Bitcoin in the entire cryptocurrency market.
However, if things do turn bullish yet again, incubators, launch pads, and new cryptocurrency projects will be going crazy, and this is where you could see a potential PolyPad price recovery again. Where would you have preferred to have purchased cryptocurrency coins, at the top at 5 or 6 cents, at the top at 12 cents, or all the way down at 2 cents?
I think too many of us get focused on just one or two of these projects, and we put way too much money into a lot of these very high-risk speculative coins. Again, you really need to manage your risk with a lot of these cryptocurrency Altcoins, especially the Micro-Caps.
So there you have it. What do you think about all the coins in Bitcoin right now? This market is very very shaky. Do you think it’s going to go up and down sideways?
[This article is a transcription of a video made by Joe Parys]
Original video: https://youtu.be/-5RPwo0dlek]
