(the trend lines with the yellow circle = price action of the total crypto market cap or TOTAL/ Total crypto market cap - BTC n ETH or TOTAL3 / and the Total DeFi Market Cap or TOTALDEFI, u can find these n charts like them under INDEX next to CRYPTO when you go to ADD an ASSET
early jan feb 2021 we saw BTC run from 17k to the 30ks. during that time the crypto market cap almost tripled. btc was the double up and with a 40 percent plus market dominance was the BIG SHOW. The unnoticed or at least not much talked about was the DeFi, ALT, n Less forgotten ETH pumps. Eth was late to the party on that pump. everyone was waiting for eth to go as BTC ran hard then ALTS (DeFi esp) then ETH. This was the first time we really saw funds and retail enter the deeper market cap alt arena since maybe 2017. (in that case no fiat on n off ramps and very difficult to go "deep woods" alt hunting. We watched the eth gas prices and network use explode. at the time, we thought this was retail money for the most part but later realized this was mostly due to big funds dipping their toes in the deeper market cap project waters.
The whole point of this ramble and messy as h3ll chart (oldie but goodie n true btc chart) is I want to point out we have more support at 33k to 28k n below with BTC then people I think realize due to how much money pumped into the crypto at that time. Yes there is not necessarily a direct correlation in btc price and alts, esp when comparing a past rally (more alien crypto tides of money pushing and pulling on each other) but all in all that money still went in at that price range and time.
Lets see what happens but I feel this is more a bag hold play to get eth and key defi projects with governance tokens or other key tokens that act as voting rites for these projects. (look at uniswap_ there was savage accumulation by big money funds last summer and suddenly a proposal gets dropped to be able to put forward changes when u have less uniswap tokens then b4, ie makes it easier to put forward project proposals and act on them, sush as: need less uni to put out a "project change proposal" and amount of votes to push it through) many of these alt projects where put out with barley a thought or attempt at general understanding of tokenomics with even the most solid thought out projects facing the ever changing/shifting/growing prices and crypto landscape, this is truly the new financial wild west.
Long story short _ETH looks likely to fill up that 2k to 2350 range with BTC needing to stay above 33k-28k or this whole market is in big trouble. I very much doubt without a major blackswan event and some, anything below 2k eth and 33-28k btc will be a catastrophic and very unlikely. As for the 2ooo eth n 28-33k btc, That I do feel is very likely. for me when every one says crypto is dead is when we buy heavy, esp in alts. Another advantage of taking eth n btc positions first after a drop is 1. less volatility then alts, 2. good jump off point to start to accumulate alts (easier when holding btc n eth ie one less step usually esp if not on centralized exchanges.)
The projects I really want and in somewhat order this year: ETH ETH ETH ETH BTC BTC BTC then DOT ADA SOL then MATIC ALGO n a few other blockchain hedges For DeFi the main more obvious picks rite now will be AAVE CRV YFI FANTOM(after she cools off some more) MKR n anything in the yearn ecosystem like PICKLE lol these names friggn just kill me and almost make some things impossible to invest in just because of the name lol _thats the final lesson of last year, at least for me. I learned, esp with DOGE, to always respect the pump... no utility, it dont matter-as a whole generation of kids pumped meme coins. At the end of the day, from wall street to crypto to whatever. Momentum and Hype seem to be very closely related. at least that initial excitement that propels and catches eyes is never to be overlooked. Its the utility and or creating real world value in some form that sustains and keeps these hype/momentum trains going and sustainable.
My call to all those in crypto this year is its time to focus and create utility in our favorite projects. If not a developer then get out there and play, give quality feedback, if you cant figure it out how can we expect new to this to even begin to use whatever the project. Hype is the key, crypto finally captured that, china is moving to a block chain based payment system, facebook changed its name and is all in "Metaverse", Funds and big money want cotrol of the DEXs like uniswap and sushi. Layer two will help but this is about the community and what we bring to this party. we need to show the newer to this wild west finance internet whatever where and how to play and we cant do that if we dont know the how or what our selves. 2022 so lets go get it this year ya all. Buy da dips n never b skeeerd to take dem profits. HGM n GroundCrypto 0ut.
early jan feb 2021 we saw BTC run from 17k to the 30ks. during that time the crypto market cap almost tripled. btc was the double up and with a 40 percent plus market dominance was the BIG SHOW. The unnoticed or at least not much talked about was the DeFi, ALT, n Less forgotten ETH pumps. Eth was late to the party on that pump. everyone was waiting for eth to go as BTC ran hard then ALTS (DeFi esp) then ETH. This was the first time we really saw funds and retail enter the deeper market cap alt arena since maybe 2017. (in that case no fiat on n off ramps and very difficult to go "deep woods" alt hunting. We watched the eth gas prices and network use explode. at the time, we thought this was retail money for the most part but later realized this was mostly due to big funds dipping their toes in the deeper market cap project waters.
The whole point of this ramble and messy as h3ll chart (oldie but goodie n true btc chart) is I want to point out we have more support at 33k to 28k n below with BTC then people I think realize due to how much money pumped into the crypto at that time. Yes there is not necessarily a direct correlation in btc price and alts, esp when comparing a past rally (more alien crypto tides of money pushing and pulling on each other) but all in all that money still went in at that price range and time.
Lets see what happens but I feel this is more a bag hold play to get eth and key defi projects with governance tokens or other key tokens that act as voting rites for these projects. (look at uniswap_ there was savage accumulation by big money funds last summer and suddenly a proposal gets dropped to be able to put forward changes when u have less uniswap tokens then b4, ie makes it easier to put forward project proposals and act on them, sush as: need less uni to put out a "project change proposal" and amount of votes to push it through) many of these alt projects where put out with barley a thought or attempt at general understanding of tokenomics with even the most solid thought out projects facing the ever changing/shifting/growing prices and crypto landscape, this is truly the new financial wild west.
Long story short _ETH looks likely to fill up that 2k to 2350 range with BTC needing to stay above 33k-28k or this whole market is in big trouble. I very much doubt without a major blackswan event and some, anything below 2k eth and 33-28k btc will be a catastrophic and very unlikely. As for the 2ooo eth n 28-33k btc, That I do feel is very likely. for me when every one says crypto is dead is when we buy heavy, esp in alts. Another advantage of taking eth n btc positions first after a drop is 1. less volatility then alts, 2. good jump off point to start to accumulate alts (easier when holding btc n eth ie one less step usually esp if not on centralized exchanges.)
The projects I really want and in somewhat order this year: ETH ETH ETH ETH BTC BTC BTC then DOT ADA SOL then MATIC ALGO n a few other blockchain hedges For DeFi the main more obvious picks rite now will be AAVE CRV YFI FANTOM(after she cools off some more) MKR n anything in the yearn ecosystem like PICKLE lol these names friggn just kill me and almost make some things impossible to invest in just because of the name lol _thats the final lesson of last year, at least for me. I learned, esp with DOGE, to always respect the pump... no utility, it dont matter-as a whole generation of kids pumped meme coins. At the end of the day, from wall street to crypto to whatever. Momentum and Hype seem to be very closely related. at least that initial excitement that propels and catches eyes is never to be overlooked. Its the utility and or creating real world value in some form that sustains and keeps these hype/momentum trains going and sustainable.
My call to all those in crypto this year is its time to focus and create utility in our favorite projects. If not a developer then get out there and play, give quality feedback, if you cant figure it out how can we expect new to this to even begin to use whatever the project. Hype is the key, crypto finally captured that, china is moving to a block chain based payment system, facebook changed its name and is all in "Metaverse", Funds and big money want cotrol of the DEXs like uniswap and sushi. Layer two will help but this is about the community and what we bring to this party. we need to show the newer to this wild west finance internet whatever where and how to play and we cant do that if we dont know the how or what our selves. 2022 so lets go get it this year ya all. Buy da dips n never b skeeerd to take dem profits. HGM n GroundCrypto 0ut.
