Weekly Rundown - May 19, 2024

Just enough to keep you guessing . . .

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Before you read the rundown below, don’t let choppy prices distract you from exciting developments underway in the crypto market.

Mark, why are you excited? Some altcoins are still down 50%!! 🤬

If you followed my plan, you’re still up big despite the altcoin market correction.

Also, history is repeating itself. If that continues, it’s likely that after this choppy phase, the market will recover quickly.

Especially the altcoin market!

In all market conditions, it’s normal for altcoin prices to drop 40%-50% or more. That’s often a great time to jump into quality projects.

In previous emails, I've talked about why I believe the RWA sector is primed for outstanding performance. Taking it further, I've pinpointed a specific altcoin with massive potential and compiled a comprehensive report about it!

This detailed report will equip you with invaluable insights, empowering you to make well-informed investment decisions and assess whether this project aligns with your investment strategy.

Please note that access to this report is exclusively for premium subscribers. If you're eager to get this report directly in your inbox, join the premium Crypto is Easy community right now.

No audio this time. Life got in the way.

If that update caught you off guard, you may have questions. I have answers. Scroll down for those, as well as poll results and other content you may enjoy.

Look for a new altcoin report tomorrow, plus other goodies in the coming months.

If you can read this section, you are on the free plan. Premium subscribers will find those questions and answers below. Upgrade to the premium plan now so you get those, too. You’ll also get:

  • 👀 Direct contact with me.

  • 📈 Video and written market analyses so you can make better investment choices.

  • 🧐 Exclusive altcoin reports and special content to stay ahead of the competition.

Poll results

In last week’s poll, I asked, “How low will Bitcoin’s price go after today?”

35% said $50,000. This seems like the consensus among the analysts and commentators I follow.

25% said $60,000. That was roughly Bitcoin’s price when I sent my poll.

A handful of responders said “below $36k,” which seems a little extreme.

What do I think?

Upper $30k is certainly doable. $40k shouldn’t surprise anybody, though if you wait for either of those prices, you might be waiting forever.

This year’s massive zoom flushed a lot of strong hands out of the market. The question is how much new money will enter in the coming weeks. That’s the element nobody can anticipate.

If you hang around crypto long enough, you may hear people talk about “fully diluted valuation” or “circulating vs. uncirculating supply.”

These are variables to consider when trying to understand an individual altcoin's investment opportunity. For example, if you see a project that has a low circulating supply, check why that is, look at the emission or inflation schedule, and find out what rewards, vesting, staking, and lock ups the protocol has.

M6 Labs published a nice, short explanation of this concept, Understanding Market Cap and Fully Diluted Market Cap.

I largely agree with their summary and why it matters, though I would categorize altcoin sizes differently than they do.

For more on my view, read last year’s article, With Altcoins, Big is Not Safe. Often, it’s the Opposite.

*This Bloomberg article is free once you sign in.

Bottom line: Andreessen Horowitz’s top crypto guru wants to make crypto look less grifty and more legitimate.

My take: My views about VCs are well established (get a summary here). I'm sure I'm not the only person who spotted the irony that a VC bro ordered thousands of his own books to pump his early sales figures. There's nothing more “crypto” than that.

Crypto doesn't need spokespeople. It needs projects that offer meaningful, substantive benefits. If we can deliver valuable outcomes, impressions will change.

Every industry has grifters. Nobody cares as long as the products and services make their lives better. By that standard, crypto has a long way to go. VCs, spokespersons, and books can’t change that. Builders, developers, and communities can.

Why you should care: Remember the people trying to make crypto better. They often have the smallest platforms, but they make the biggest impact.

Relax and enjoy the ride!

Do you want to consult with me on crypto or your portfolio? Schedule time on Tealfeed!

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