Is This the End for Crypto?

Why Bitcoin and Solana are About to Explode

July 06, 2024

  • Is This the End for Crypto?

  • Why Bitcoin and Solana Are About to Explode

  • And more…

Market Data Prices as of 5:50am ET

Price (USD)

Change (24h)

Change (YTD)

Bitcoin (BTC)

$56,722

+4.18%

+35.07%

Ethereum (ETH)

$3,000

+4.25%

+31.35%

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IS THIS THE END FOR CRYPTO?

In the last week, Bitcoin has dropped -10% to $55k, Ethereum has fallen -14% to $2.9k, and Solana is down -10% to $130. It's a bloodbath in the market, and investors are panic selling. 🫣

Here’s why:

  1. The German government has offloaded 7,583 $BTC worth $435M and still holds over 41k $BTC valued at $2.3B.

  2. The Mt. Gox wallet moved 47,229 $BTC ($2.7B) yesterday, gearing up for a major repayment in July.

  3. The US government transferred 237 $BTC ($13M) to a new wallet, retaining 213K $BTC worth $12.3B.

These substantial movements by major Bitcoin holders are triggering market fears. But, we see this as a natural part of the crypto game.

In March, during Bitcoin's all-time highs, we predicted a 30% pullback.

Historically, Bitcoin sees massive gains every four years:

  • 2012: From $12 to $1,100 (a 9,000% increase).

  • 2016: From $650 to $20K (a 3,000% increase).

  • 2020: From $8K to $69K (a 1,200% increase).

  • 2024: What’s Next? 🚀

The best crypto app to secure your tokens: Ledger

A crypto wallet is a physical device, designed to enhance the security of your private keys by securely storing them offline.

These wallets physically store your private keys within a chip inside the device itself.

The beauty of using a crypto wallet is the security it provides to your private keys.

The big idea behind crypto wallets is the isolation of your private keys from your easy-to-hack smartphone or computer – basically anything that can expose your private keys

WHY BITCOIN AND SOLANA ARE ABOUT EXPLODE

BREAKING: We’re Close to a Massive Price Rally Says This Macro Expert

Real Vision CEO Raoul Pal predicts substantial rallies for Bitcoin and Solana in the current cycle, based on historical patterns.

In his latest podcast, Pal elaborated on his positive outlook for these cryptocurrencies, analyzing their past cycles.

Pal has consistently talked about the banana zone which typically follows a period of sideways price movement post Bitcoin halving.

He specifically noted that Bitcoin's volatility, when it declines to around 20%, has consistently led to significant rallies, with typical gains ranging from 70% to 200%.

This recurring behaviour suggests that low volatility phases precede strong upward trends in the market.

Similarly, Pal observed that Solana follows a comparable pattern. When Solana's volatility falls to approximately 50%, it usually experiences a major rally.

These patterns in both Bitcoin and Solana strengthen Pal's belief in their potential for significant growth in the near future.

Pal also foresees a new surge of liquidity entering the financial markets, altering the environment for risk assets.

In his latest update with Real Vision's Julien Bittel, Pal outlines multiple factors that he believes will enhance global liquidity, positioning it as the key force behind risk assets like cryptocurrencies.

Watch the video below where Raoul explains his forecast for Ethereum and Solana:

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