About Jamie Demon
3 min read

About Jamie Demon

Cryptic ball: $60k is the next boss.

This was a slow weekend, indeed. Bitcoin remained stuck between $54k and $56k, only escaping the range on the first hours of Monday, UTC time. The original cryptoasset has pumped 5% and looks poised to have a great week ahead. Meanwhile, as expected, alts remained rather muted. FTM and SHIBA were among the few to escape today's carnage, which led the likes of LUNA, SOL, and AVAX to new lows. This implies a change of strategy for the rest of the month.

While before it seemed like we were seeing that it was possible for major cap alternative cryptoassets to pump in tandem with BTC, it's now clear the strength of the orange coin will soon be felt, further pushing most of alts down in relative terms - just like what happened in 2017. In other words, I'm expecting bitcoin to test its previous all-time high (ATH) of $65k around the end of October, which would curiously bode well with October 31st's whitepaper publication!

Then, if the 2017 replica meme comes true, we'll pump in November whereas alts will finally spring again in December. Prediction-wise, I agree with Ryan Selkis, who has nailed more forecasts than any other person in this industry, who is now predicting a top around $125k to $150k bitcoin. If you haven't positioned yourself for this outcome, check Cred's take, a popular crypto trader, who shared a few scenarios to trade the breakout. Keep an eye on funding rates too!

Chart art: institutions are buying.

Institutional demand has been driving bitcoin's price this year.

Three things: bitcoin mitigates energy waste.

Tweet tip: but would this move prices?

The move towards Sats will likely take place, though. 

Meme moment: ssqueth game.

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Our newsletter offers opinions and insights from analysts in the cryptoasset space. It is not intended to be investment advice, and should not be treated as such. You must not rely on its information as an alternative to financial advice from a qualified professional. Without prejudice, we do not undertake or guarantee that its information is correct, complete or non-misleading; or that the use of guidance in the report will lead to any particular outcome or result.