2024-03-02 13:32:59
“Should have bought” is a news podcast with the editors and friends of ForkLog regarding the main industry events of the week and the “hottest” tokens.
Topics of the issue: “sodomy” in the cryptocurrency market, growing risks of correction, inexhaustible reserves of MicroStrategy and advertising in Telegram for TON.
Contributed by: ForkLog Lena Jess, Alex K., Vasily Smirnov.
Special guest: founder and interim CEO of the aggregator CeDeFiAi Tony B.
Bitcoin approaches ATH
On February 28, Bitcoin tested $64,000—less than 10% remained from the all-time high recorded in 2021. The price corrected to $60,000, soon finding an equilibrium around $62,000.
On the monthly chart formed the largest green candle in history. In February, the first cryptocurrency rose in price by more than 40%, and a historically favorable March is ahead.
The price of Ethereum did not lag behind – the cryptocurrency tested the $3,500 level, following which it rolled back slightly. Ether rose 46% last month.
Amid market recovery, fear and greed index exceeded mark 80, which corresponds to the values of November 2021.
Forecasts from Peter Brandt and other experts
The head of Factor LLC, Peter Brandt, changed his forecast for the rate of the first cryptocurrency in 2025 from $120,000 to $200,000.
The expert raised the bar as Bitcoin broke through the upper resistance line of the 15-month channel.
According to Brandt, the current bull cycle will end in August-September 2025. By this time, digital gold quotes should reach the stated goal.
The technical analyst also expressed confidence that Bitcoin will become an important “store of value” as traditional players become involved in the crypto market.
Credentia CEO Stepan Gershuni expressed the opinion that cryptocurrency owners “are in for ~12 months of sodomy.”
However, Matrixport co-founder Daniel Yang allowed the crypto market to correct by 15% in April. In turn, JPMorgan analysts expect a rollback of the Bitcoin price to $42,000 following the halving.
Kiyosaki’s plan
“Rich Dad” Robert Kiyosaki is not afraid of corrections. For him, “sale” is his favorite four-letter word.
“I am often asked: “What will happen if Bitcoin falls?” My answer is the same for Bitcoin, gold and silver: “I will be happy and buy more as soon as the crash stops,” he wrote.
MicroStrategy, which survived the dot-com boom, is also not afraid of corrections. Its accumulated digital gold reserves are approaching $12 billion.
The company does not intend to sell reserves of the first cryptocurrency, and such steadfastness has a positive effect on the price of its shares.
The government of El Salvador is also not going to record profits, which have already exceeded $40 million. The country’s president, Nayib Bukele, suggested that Bitcoin critic Peter Schiff should “cry harder.”
Prospects for TON
Pavel Durov announced a financial reward for owners of Telegram channels for displaying advertisements.
Starting in March, the Telegram Ads platform will open to all advertisers in almost a hundred new countries. Local users will receive 50% of the income that the messenger earns from displaying advertising in their channels.
In addition, Durov proposed a solution to maintain the decentralization of TON. Thus, the Telegram team will be limited in the ownership of tokens at a level of regarding 10% of their total supply.
Over the past week, the price of TON has increased by more than 30%.
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