What's up, cosmic captains? Just like the time I surfed the asteroid belts of Andromeda on a dare, I dove headfirst into 2 hours of deep crypto wisdom from Paul Barron, Benjamin Cowen, Gareth Soloway, and more, just to bring you the most far-out insights.

Experts Agree

  1. The Federal Reserve's rate cuts are expected to impact Bitcoin's price. (Benjamin Cowen, Anthony Pompliano)
  2. Bitcoin's price will likely increase due to new capital inflows and strong holding behavior. (Benjamin Cowen, Anthony Pompliano)

Benjamin Cowen

Fed & Bitcoin Rate cuts by the Federal Reserve are expected, which will likely coincide with the topping out of Bitcoin dominance. Reason: The topping out of Bitcoin dominance is correlated with the start of looser monetary policy, as observed in the previous cycle.

Altcoin Bottoms Altcoins that will survive are expected to bottom out against Bitcoin before they potentially go down against the US dollar. Reason: Altcoins bottomed out against Bitcoin before USD pairs went down in the last cycle.

Bitcoin Topping Bitcoin dominance is expected to begin the topping process sometime between now and early 2024. Reason: The cycle of Bitcoin dominance is closely tied to monetary policy and a repeat of the pattern seen in the last cycle is expected.

Bitcoin Dominance Bitcoin dominance is predicted to rise to around 56% and then potentially reach 60%. Reason: Historical retracement levels and patterns from the last cycle indicate a similar outcome in the current cycle.

ETH/BTC Breakdown The Ether to Bitcoin pair is expected to break down from its final support level at 0.049, potentially within the current month or extending out until early 2024.

Bitcoin Dominance Bitcoin dominance is expected to rally for at least a few more weeks, maybe a few more months. Reason: The upward trend in Bitcoin dominance over the last two and a half years and a new yearly high suggest a continuation of this trend.

Gareth Soloway

Bitcoin Forecast Bitcoin could rise as high as $48,000 before experiencing a pullback, with potential support at $38,000 if it pulls back, and could head back to the $30,000 level if it breaks $38,000. Reason: Bitcoin has shown resilience and a continued grind higher, but is now getting into a frothy state which could lead to a pullback.

Anthony Pompliano

Bitcoin's Potential If Bitcoin matches the market capitalization of gold, its price could reach $500,000 per coin, and it could be even higher if Bitcoin starts to replace other traditional stores of wealth.

Rate Cut Impact Bitcoin's price is responding to the expectation that the Federal Reserve will cut interest rates earlier than the market currently expects, which could be in Q1 as some are betting, rather than Q2.

Institutional Influence Bitcoin's price will likely increase due to a new wave of capital from institutions and individuals who are influenced by major players like BlackRock showing interest in Bitcoin. Reason: The interest from major players like BlackRock in Bitcoin is attracting new capital from institutions and individuals, which is likely to increase Bitcoin's price.

Currency Shift If central banks, such as the Federal Reserve, have to print money to finance debt, assets other than traditional currencies, like Bitcoin, will become more desirable. Reason: The reasoning is that the printing of money by central banks to finance debt could lead to the devaluation of traditional currencies.

Bitcoin Reflexivity The price of Bitcoin will increase more rapidly due to a growing percentage of Bitcoin not being sold, creating a reflexive feedback loop.

HODL Impact The price of Bitcoin will continue to rise as Wall Street will have to bid up the price to acquire shares due to 70% of the circulating supply not moving in a year, indicating strong holding behavior among Bitcoin owners.

Macro & Markets

Gareth Soloway

Russell Resistance The Russell index is nearing a resistance level at around 189, indicated by a wedge pattern on the weekly chart, suggesting limited upside potential. Reason: The wedge pattern on the weekly chart of the Russell index suggests an approaching resistance level, signaling the end of its current upward trend.

October's Influence The October low from 2022 is anticipated to be a significant technical level for future market movements.

Impending Recession A recession is expected due to skepticism about the market's optimism and the Federal Reserve's ability to manage a soft landing amidst rapid interest rate increases.

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Disclaimer: Not financial advice. For informational purposes only. Consult a professional for financial decisions.

Fed Impact