Crypto Breadth Is Back
Disclaimer: Your capital is at risk. This is not investment advice.
ByteFolio Issue 95;
The ByteTree Crypto Average (BCA) is on 5 stars again, which simply means the average token is going up, and this rally could have much further to go.
BCA Is 5 Stars
We also see the dollar breadth very strong on this five-year chart. It is heading towards the 2020 levels, which means most coins will have positively sloping 200-day moving averages. To put it another way, downtrends are becoming rare.
Back to Bull Market Levels
Zooming in on the same chart, you can see the dark blue seas (5-star trends) are at the highest level since 2021 while red skies have retreated. It highlights the structural improvement in the market, meaning it is time to embrace risk.
Liquidity Surge
The only problem is it’s still quite hard to beat Bitcoin. That is fine because the market is going up; it is just hard to get in front. That should change after halving, which is just two months away. Perhaps that’s when we get the new fully-fledged altcoin season.
Fewer Trends Beating Bitcoin
Our mission is simple: to identify the leading projects in crypto. As you know, there are thousands of rubbish projects, but there are also some spectacular new ones. We started doing this nearly two years ago, a period that was overwhelmed by a horrendous bear market. The good news is that $100 invested is now $101.30. High time!
We aim to find the best projects and own them. This week, we added another two names.
