⛔ Bitcoin dump pending?
Today’s issue ⤵️
1. 📊 Today in markets
2. ⛔ Bitcoin dump pending?
3. 👀 What’s next in Crypto?
4. 🔮 Flooz Top Picks
🚀 Flooz Exclusive Data Bytes
On-chain insights, we've got you covered! Check out the tokens that are swapped by the top 100 holders of DRGN Token in the last 24H.
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Matrix Chain The World’s Leading Decentralized Finance Platform.
❓ Bulls in trouble land
We have gone from hopium to copium in the space of a few weeks and it is impacting the market sentiment.
We almost hit $50k in January after ETF approvals and everyone got bullish and was ready to climb those big green candles, but then it changed.
We got a HUGE drop and people were panicking...
Welcome to the world of crypto.
These occurrences are not new but emotions take over either way because money is involved.
And if you think the drops are panic moments are over...
You best buckle up, as until we see a new all-time high, these will be frequent and it will be rough for many investors.
However... let's not lose sight of the bigger goal. The bull run gets closer with every day that passes and making sure this is the focus for long term investors is key.
We are now in a position where it is potentially too risky to sell assets due to the bull run approaching, but at the same time we could see big drops and you may seen red on your portfolio.
No one said it would be an easy ride, this is why having a plan is vital. Short term red for long term green is the answer for most investors.
But one thing is for certain, not everyone will make it sadly. Some will give in and sell, others will try to use leverage, and some may even go full risk and lose it all.
The journey is a rollercoaster and you only have to look at historic events within crypto to realise that nothing worth having comes easy.
We will try to keep you updated and prepared for this bull run the best we can, but it is ultimately down to you to make the decisions and have a plan.
📊 Today in markets
It's been a tough few weeks for the crypto world. On the brink of $50k, followed by a sweep under $40k, but things have stabilised for now.
The problem we have now is, we are only just hovering above the $40k mark and we could be about to see some volatility from Bitcoin...
Overall, the market have been consolidating and waiting for the next big break out, whether that is up or down is a different story.
As you can see, the $40k mark is key support for Bitcoin, meaning if we fall below that and fail to recover quickly, we could be heading down further.
How far depends, but $34k could be a possibility if things get bad. As always, nothing is 100% predictable, and we can hope that there is not a huge turn in the market that causes a drop.
There is one problem though, Bitcoin could be about to see a sell off (More on this in the next section below), so this $40k support could be in for ride.
If this happens, it could be an opportunity for long term investors to buy the dip, but these times are certainly unpredictable, and making sure you stick to your plan is important.
⛔ Bitcoin dump pending?
January was looking strong, we got ETF approvals, then we managed to hit $49k on Bitcoin but since then, things have been rough.
And sadly, it seems we are not done yet, and this time it could be Bitcoin that suffers...
However, before you go into a panic frenzy, let's gather the facts.
The reason why we might see a Bitcoin dump in the near future is because Genesis, the crypto lender who went Bankrupt last year, are looking to sell their remaining assets off.
With an estimated $1.4 billion worth of Bitcoin being the main asset class...
On top of this, Genesis also have roughly $200M worth of Ethereum and Ethereum Classic combined to sell off too.
Not quite as big, but it will still cause disruptions for the markets and is something to keep an eye on as it could present both pain and opportunities.
Yes, this is a little scary.
But, this is also pending an approval, they cannot just simply sell off the assets just yet.
The only problem, is we saw FTX sell off their assets recently, which saw Bitcoin drop from $49k to below $40k...
Will we see a similar move again?
Unlikely, mainly because this needs approval, which gives time for the markets to at least be prepared for this and when we dropped last time, we just hit a yearly high of $49k, so a drop was needed at some point.
As always, the best way to stay ahead is to be up to date and have a plan. The crypto world is volatile and nothing is guaranteed.
👀 What’s next in Crypto?
We have seen tokens come and go, and this will continue as we get further into the lifespan of the crypto world, but there is one in particular that take a nose dive more often than not...
That is the beloved Memecoins.
Now, let's not get completely carried away, not all Memecoins suffer a horrible decline and turn into nothing and that's why we have highlighted Memecoins today.
Because things are changing. Memecoins are evolving. The narrative is finally different.
We are seeing more and more Memecoins pop up, and this isn't just during Memecoin season...
Oh no, this is more than that.
Memecoins are starting to evolve and add utility and a direction for investors. But they have an extra advantage.
Memecoins grab the attention of investors from all over the place, looking for a quick profit and something to connect with.
But here's the big difference and why marketing is different with Memecoins...
They build a community in record time. People love being a part of it and as a result, we are seeing more successful Memecoins.
We've seen this with many Memecoins recently, and they continue to keep their strength and it's because the community aspect is super dedicated.
Just look at some of the top Memecoins:
These examples are not just useless tokens with no utility. Heck, some of these are building utility as we speak.
But the difference and reason why these are not just surviving, but thriving... is because their communities are so powerful and this isn't slowing down anytime soon.
In fact, Memecoins are now an area of investment that can make sense because of these exact reasons.
They are not just 'stupid' and 'useless' investments anymore, they present opportunities and when you see what $FLOKI is doing, they are marketing and building EVERYWHERE.
Times are changing, and it is time to start seeing Memecoins in a different light. Yes, they are not perfect, but they are not all simply pump and dumps anymore.
As we head into the bull run, we will see Memecoins flying and there will be BIG opportunities, but the real question is, will you be looking out for this?
However, don't forget that nothing is guaranteed. Doing your own research and having a plan is more crucial than ever.
🔮 Flooz Top Picks
Here are our three crypto picks of the week: 👇
The first on our list is DRGN, which has seen a massive 36% climb in the last 24H and an even more impressive, 205% rise in the last 7D.
Dragonchain is an enterprise and start up ready platform to build flexible and scalable blockchain applications. They describe themselves as "The Most Secure and Flexible Blockchain Platform on Earth" and it seems interest is building as a result.
With only a $20M market cap, this could be one to keep an eye on leading up to the bull run.
Our next pick on the list this week is TOKEN
TokenFi gives users all they need to create a token or tokenize Real World Assets (RWA) in a simple all-in-one platform without writing a line of code.
In the last 24H, $TOKEN has seen a 10% price increase, and has a market cap of around $30M currently.
Our last pick of the week is LAKE
With a 10% drop in the last 24H, and only an $11M market cap, $LAKE is looking like an interesting opportunity.
Data Lake supply an unprecedented depth of insight based on real world clinical data, which is used to improve health practices and data sharing for patients.
The combination of the blockchain and real world data around the medical and patient industry is certainly an interesting approach. Could we see a unique narrative here?