Bitcoin:
We remain optimistic but cautious about Bitcoin. Although implied volatility has settled at 53%, we expect it to decline further as Bitcoin trading should be subdued. The market has a lot of supply, with significant selling pressure from orders between $73k and $80k still on the books before the halving, and massive bids from whales below $55k.
Altcoins:
We are wary of Solana (SOL) as it appears to be overextended, and we are hearing from app developers that it’s almost impossible to launch a token on SOL. We are neutral about XRP as we believe it’s too far from Satoshi’s initial vision. As for other altcoins, we believe that 2024 will see the emergence of old-school leaders like Monero (XMR) and Bitcoin Cash (BCH).
Ethereum:
We are cautious about Ethereum due to the significant MIT hack, which is not fully understood. Additionally, we like selling ETHBTC.
Memecoins:
In the meme space, we believe Shiba Inu (SHIB) will be the strongest as its ecosystem is, in our view, the most dynamic.
