Ah yes, the DogeFather has taken over Twitter. So what does it all mean for crypto? And Dogecoin?
Additionally, If you’re confused about whether to buy crypto in these conditions, maybe a panel of experts will help point you in the right direction.
All that and much more in today’s Brew!
Overview:
- Time to buy, sell, or hodl crypto?
- BTC’s positive start to the week.
- DogeFather turned TwitterMaster
- NFTs: More Ape hacks.
Is it time to buy, sell, or hodl bitcoin? Let us see what 35 fintech experts said.
Once a week, Finder gathers a panel of +30 plus fintech experts to fill out a survey on the state of bitcoin. Let us look at the recent outcomes to help guide our decisions of whether to sell, buy or hold crypto in the current conditions.
Finder also provides an excellent overview of bitcoin on its website if you’re new to crypto. Below are some of the data points; if you’d like to review the entire report, it’s free to check out on their site.
Long-term price predictions
- 65k by the end of year 2022
- 179k by the end of year 2025
- 420k by the end of year 2030
Buy, sell, or hold BTC?
It appears a ⅔ of the panel agree it’s an excellent time to buy bitcoin, with only 9% agreeing it’s time to exit. Of those who point towards selling, one highlighted carbon emissions as the big concern, and another predicts Ethereum (ETH) will surpass BTC and is the better purchase. Considering the upcoming Ethereum merge, I agree with the latter’s opinion. Either way, the sentiment to sell crypto, in general, appears low across the board.
Which will be the top-performing coins of 2022?
The same panel appears extremely bullish on Ethereum (ETH), even more than BTC. Again, the merge is a significant catalyst in the next few months, and if you’d like to catch up on it, I wrote about it a few weeks ago. Think three bitcoin halvings in one instance.
The panel additionally appears bullish on Solana (SOL) and other layer ones we at Crypto Banter cover regularly. Consider these coins the more conservative plays in crypto and should constitute a large percentage of your portfolio. Of course, they won’t 20x from here in the short-term, but medium to long-term provide an excellent foundation for a solid portfolio. Not financial advice, by the way, strictly opinion.
Here’s a great thread on how to dollar-cost average, a preferred method of investment.
Market update 🌍
The market pulled a nice turnaround on Monday after the weekend doldrums, and bitcoin popped its a head above the upward trendline (green) noted yesterday behind decent volume. Despite four weeks of downward action, the fact price remains above the trendline is fascinating. On that note, BTC hasn’t had five straight weeks of downward movement in over two years, so statistically speaking, we could be experiencing the beginning of a slight upturn. But always remember, past occurrences don’t guarantee future performance. BTC closed the US session at US$40,400, up +2.47%
Source: Trading View
| US markets close | Gain |
| S&P 500 | +0.57% |
| Nasdaq | -0.13% |
| Dow | -0.63% |
| VIX | -4.22% |
Notable Gainers (24h)
| Protocol (Coin) | Price ($) | Gain (%) |
| DogeCoin (DOGE) | 0.15 | +20 |
| ApeCoin (APE) | 19.14 | +17 |
| ThorChain (RUNE) | 8.43 | +11 |
| Lido DAO (LDO) | 3.27 | +11 |
| Synthetix Network (SNX) | 6.25 | +11 |
| The Graph (G | 0.37 | +9 |
| Terra (LUNA) | 96.38 | +9 |
| ZoidPay (ZPAY) | 1.36 | +45 |
| Oasis (ROSE) | 0.23 | +14 |
| Synapse (SYN) | 3.12 | +12 |
| Balancer (BAL) | 16.25 | +15 |
| Bitcoin Fear and Greed Index | 27 Fear (+4) |
| “Crypto” Google Trends | 45 |
| “Bitcoin” Google Trends | 32 |
Newswatch 📰
DogeFather turned TwitterMaster. Watch out crypto bots; Elon Musk has taken over Twitter for $US44b and plans to take the company private to initiate drastic changes. Musk has mentioned that eliminating spam and scam bots on the platform would be the top priority. But the grander plans of enabling free speech on the forum remain on the table.
Rumors of making the platform open source do hold some weight, but decentralization of the platform is pure gossip. There is no mention of Dogecoin’s (DOGE) role, but I wouldn’t be surprised if Musk hints at changes to gather public perception first.
Twitter is a preferred social platform for crypto, often labeled “CT” (crypto Twitter). If you like to learn about the relationship between Musk and DogeCoin (DOGE), check out the newsletter from a week ago, where I dig deeper into the subject. Dogecoin (DOGE) is up 19% since the news broke late yesterday.
On a related note, Twitter wasted no time in muting the SEC, a longtime nemesis of crypto and Musk innovation. Probably just a coincidence.
On-chain ⛓
Liquid staking on Fantom. If you hold FTM token and need a place to stake it, Stader (SD) labs have just introduced liquid staking on the network. A staker can earn the typical yield offered by validators (8-10%) and use vFTM to earn additional passive income—a first for the chain.
Liquid staking with THOR token. The native decentralized exchange (DEX) of Thorchain (RUNE), Thorswap (THOR), introduces liquid staking of THOR token in exchange for vTHOR. Again, a chance to earn additional passive income once it goes live in May.
On-Chain Tidbits:
- SushiSwap (SUSHI) restructuring for the road ahead.
- Whirlpools, Concentrated liquidity pools on Orca (ORCA), Dex on Solana (SOL).
- Maple (MPL) is now live on Solana (SOL).
- Pocket Network (POKT) expands to Fantom (FTM) network.
- JPED’d (JPEG) protocol launch.
NFT & metaverse update 🐵
The Opeansea swallows competitors. Leading NFT exchange Opensea has acquired NFT exchange aggregator Gem.xyz for an undisclosed amount.
Hack, scams, and more hacks. An additional 91 BAYC-related NFTs, amounting to $US91m in value, were scammed out of the hands of holders. Please, please use a ledger when transacting with precious cryptocurrencies and NFTs, and don’t connect wallets to any sites until 100% verified.
NFT tidbits:
- Toyota/Nissan enter the metaverse.
- Chinese sportswear Li Ning releases clothing featuring Bored Ape #4102
- NFT Update host “Investing into NFTs.”
Notable Mints:
| Project | Type | Mint price | Date of mint | Time |
|---|---|---|---|---|
| Imaginary Ones | PFP | Dutch / 50% of whitelist | April 27 | 11:00 PM EST |
| Ragnarok | Gaming | .05 ETH Dutch | April 27 | Unknown |
| Inferno | Gaming | 0.25 ETH | April 27 | 5:00 PM EST |
Banter’s take
Again, don’t be put off by the market conditions; they work in our favor. We’ve harped it so much that you’re probably sick of hearing it. But the lower crypto prices stay in the short-term, the longer we have to accumulate at lower prices. Any new technology will be volatile for years before entirely being accepted by markets and society. If you didn’t catch it the first time, Wells Fargo even wrote an excellent report a few weeks ago on the exponentially of crypto, comparing it to the internet of the 90s. Learn the technology, learn why it can change the world, and the volatility will be a good attribute for accumulation. And don’t forget to take some calculated degen chances on the way.
Gabri
