Get Ready for the Next 100x Opportunity With Metacade (MCADE)

The metaverse industry has felt the brunt of the long-term bearish crypto market conditions during 2022, with several leading metaverse coins sinking alarmingly in value. The good news is that some new metaverse projects are bucking the trend and performing bullishly.

One such newcomer to the metaverse industry is Metacade, which has the target to become the leading blockchain GameFi provider over the next year with their virtual video game arcade. Their presale performance has led to predictions that their MCADE token could be the next to provide investors with 100x gains.

MCADE could turn out the be the buy of the year

Metacade had captured the imagination of GameFi fans and crypto investors before the presale launched in November 2022. The hype around the blockchain play-to-earn (P2E) gaming platform is fully justified. The beta presale of the MCADE token sold out within three weeks of release, raising well over $1.6 million in the process.

With the value of MCADE tokens set to rise throughout each phase of the presale stage from its beta price of $0.008 each to $0.02 by the time the ninth and final stage concludes, handsome returns are on offer for the bullish early investor. Thousands have already flocked to Metacade to maximize their gains MCADE goes public on decentralized exchanges (DEX) after the presale ends.

Metacade’s attractive white paper shows the depth of the platform’s plans, extending well beyond just being a traditional P2E platform. These plans that offer ground-breaking and ultimately lead to a transition to a fully-fledged and self-governing decentralized autonomous organization (DAO) by Q4 2024 have led to experts predicting that Metacade could be the next metaverse project to achieve 100x gains for investors in 2023.

How high could MCADE go in 2023?

The value of MCADE is already guaranteed to increase with each phase of the Metacade presale. When MCADE hits the Bittrex Exchange for global public consumption, the token price will be $0.02, offering some of the best value within the metaverse industry.

Metacade has a total fixed supply of two billion MCADE tokens. This increased exposure of MCADE tokens on public exchanges, combined with the momentum built up over the token’s presale, is expected to result in a surge in price as demand increases significantly. Existing token holders that got in early during the presale will likely hold onto their shareholding, expecting the price to skyrocket, leading to potentially rich gains.

MCADE’s built-in utility, the flourishing platform roadmap, and multi-layered features mean that the price could exceed the $1 mark in 2023. This can lead to potential 100x gains for those shrewd investors that took advantage of the undervalued presale MCADE price.

What is Metacade?

Metacade uses Ethereum blockchain technology and cutting-edge Web3 development techniques to build the metaverse industry’s leading virtual video arcade. The arcade promises an ever-evolving and increasing library of play-to-earn (P2E) titles offering GameFi players the opportunity to access addictive games from classic arcade titles of yesteryear to brand new titles developed exclusively for Metacade.

Other features of Metacade are what truly sets it apart from rival GameFi titles, adding several layers of depth rarely found in the metaverse gaming industry. From the innovative Metagrants initiative launching in Q3 2023 to several opportunities to earn additional passive income streams.

The transition to becoming a complete DAO, handing over critical roles, responsibilities, and control of the multi-signatory treasury wallet to community members, begins in Q2 2023, ahead of the conclusion by the end of 2024. By this point, complete control of the platform’s governance and future development will be in the hands of the users.

How does it work?

While prominent, the P2E element of the platform is only one strand of Metacade’s appeal. Users have additional routes to earn income through their Create2Earn, Compete2Earn, and Work2Earn schemes. MCADE token holders will gain rewards for social interactions with the platform, such as writing game reviews and sharing GameFi knowledge, by staking tokens to enter tournaments and prize draws and, from Q1 2024, through applying for Web3 employment opportunities posted on the jobs board.

These rewards, along with the brand new Metagrants program, will be entirely self-funded through multiple internal and income streams. These include access to pay-to-play titles, selling advertising space on the platform, and charging for external companies to post job adverts and release their own game titles on Metacade.

Metacade: Promoting GameFi development

Metacade aims to lead the metaverse industry in GameFi development through its Metagrants scheme. This program allows budding developers to present proposals to receive funding to support the development of new exclusive titles. MCADE token holders vote for these proposals, with the most successful ideas receiving funding to create new blockchain games.

Is Metacade worth the investment?

Metacade has already set the metaverse industry alight with its presale performance. While the opportunity to invest at the lowest possible value has gone after the beta phase sold out so quickly, there is room for excellent gains by investing now at the current price of $0.01.

The earlier investors purchase their MCADE tokens, the better their chance of reaping up to 100x gains as the Metacade hype hits the open markets. With a robust roadmap and future alongside the momentum of a highly prosperous presale performance, the outlook for Metacade is exceptionally favorable for 2023 and beyond.

You can participate in the MCADE presale here.

The post Get Ready for the Next 100x Opportunity With Metacade (MCADE) appeared first on CoinJournal.

Crypto Outlook 2030: Why You Should Invest in Cardano (ADA), Solana (SOL), and Metacade (MCADE)

The crypto market is constantly evolving, making it tricky to know which coins are worth investing in for the long term. In this article, you’ll discover three crypto tokens with plenty of promise and a strong potential for future growth. They are Cardano (ADA), Solana (SOL), and an up-and-comer known as Metacade (MCADE).

Why Invest in Cardano (ADA)?

Cardano is one of the leading layer-1 solutions, currently ranked ninth in the list of the top cryptocurrencies by market cap. While it performs much of the same function as Ethereum, Cardano sets itself apart in a few ways that make it an attractive investment. 

The first is its academic-based approach. Each upgrade undergoes rigorous academic testing before being rolled out. For example, its consensus protocol, Ouroboros, is mathematically secure and, as a result, well-hardened against attack. 

Secondly, Cardano is making some significant changes to its network in 2023. It’s launching the Djed stablecoin, which will likely accelerate Cardano’s growing position in the DeFi space. Cardano developers are also expected to implement Hydra and Midnight soon. Hydra is a scaling solution that could one day enable the network to one day to achieve 1 million transactions per second (TPS). Midnight is a protocol designed around privacy regulations. 

Cardano (ADA) Crypto Outlook 2030

These upcoming upgrades have undoubtedly strengthened the ADA crypto outlook for 2030. Fundamental factors, like its rigorous approach to innovation, rockstar development team, and strategic alliances, only boost Cardano’s long-term potential. In 2030, ADA will likely be worth somewhere between $6.50 and $11, depending on how the future plays out. This is well above ADA’s current price of $0.27.

Why Invest in Solana (SOL)?

Solana, like Cardano, is a layer-1 solution that aims to rival Ethereum’s dominance. It’s currently the world’s 17th most valuable cryptocurrency, falling from the top ten after FTX’s collapse. 

Despite taking a beating recently, Solana’s fundamentals haven’t changed. In fact, its core aspects and future developments could be the catalyst for much higher prices. For instance, Solana is one of the fastest and cheapest blockchains on the planet, able to handle up to 65,000 TPS at a negligible cost. 

Firedancer, a new validator client built by Jump Crypto to improve efficiency on the Solana network, has been shown to be capable of handling 600,000 TPS in a test environment. This is much higher than Ethereum’s expected TPS of 100,000 once sharding is implemented later this year. 

Moreover, the Solana Saga smartphone, expected soon, could prompt a new wave of adoption for Solana. The Saga “sets a new standard for the Web3 experience on mobile,” and developers will be given all the tools they need to develop Web3-ready mobile apps, according to a blog post by Solana Mobile. 

Solana (SOL) Crypto Outlook 2030

While Solana isn’t as popular as Cardano, the network seems to have a bright future. By 2030, SOL will likely be worth at least $450, with optimistic estimates putting the token between $600 and $750. If SOL reaches $450, investors that bought in at today’s price of $13 would be up over 3,300%!

Why Invest in Metacade (MCADE)? 

Metacade is a play-to-earn (P2E) community hub that’s aiming to become a focal point of the GameFi revolution. It’s a platform where users can link up with like-minded gamers, discover how to make the most of the latest P2E games, and even play a part in producing the games they’ll be playing. 

Community-based features, like forums, live chats, reviews, competitions, and tournaments, have the potential to attract thousands of players looking for a place to call home in the nascent GameFi space. There are even MCADE rewards offered to players posting reviews, tips, and other content for the community to learn from. 

Later this year, Metacade is expecting to give away its first Metagrant. Metagrants are a way for the Metacade community to direct funding toward developers building the P2E games players are most excited about playing. To receive them, developers simply submit their ideas and whoever earns the most votes for their project is awarded funding. The finished title is added to Metacade’s virtual arcade, sporting dozens of other community-backed and classic games. 

With plans for a decentralized autonomous organization (DAO), a job and gig board, and several big-ticket giveaways, it’s safe to say that Metacade is putting the players first. Given that GameFi is expected to explode at 10x the rate of traditional gaming by 2025 (Crypto.com), Metacade could be the best performer out of the three cryptos discussed here by 2030. 

Metacade (MCADE) Crypto Outlook 2030

With these aspects in mind, Metacade could quickly become Web3’s number one community space for P2E gaming. Its long-term crypto outlook looks positive, with MCADE expected to reach at least $2 by 2030 – a 9,900% return on its final presale price of $0.02. If users flock to the platform as expected, then MCADE could be worth as much as $25 by the end of this decade, meaning investors that got involved in presale could be up 24,900%!

Which Token Should You Invest In?

It’s clear to see that these three cryptocurrencies have the potential to rocket in the coming years. But, after examining each, Metacade takes the lead when it comes to projected long-term returns. 

With the MCADE token still in presale and a community-first philosophy, Metacade is likely to be a massive hit with investors. In fact, over $2.2m of MCADE has been sold so far, and this number is expected to keep rising. If you’re looking for a token with one of the strongest crypto outlooks on the market, check out the MCADE presale immediately!

You can buy Solana (SOL) and Cardano (ADA) at eToro here.

You can participate in the Metacade presale here.

The post Crypto Outlook 2030: Why You Should Invest in Cardano (ADA), Solana (SOL), and Metacade (MCADE) appeared first on CoinJournal.

Best Altcoins for 2023 That Could Make You a Fortune

The best altcoins often make insane gains for investors. To make the most out of the return potential, it is always best to buy altcoins during their earliest stages; however, there are also some established altcoins that look like great investments over the coming years.

Here are the top five best altcoins for 2023:

  1. Metacade (MCADE)
  2. Litecoin (LTC)
  3. The Sandbox (SAND)
  4. XRP (XRP)
  5. ChainLink (LINK)

1. Metacade (MCADE)

Metacade is the first community-driven and biggest decentralized arcade in the world, making its MCADE token the best altcoin for 2023. The platform offers both casual and competitive gameplay, enabling players to earn cryptocurrency rewards by playing various arcade-style titles.

Built on the Ethereum blockchain, Metacade delivers advanced Play2Earn (P2E) mechanics. Gamers are given more control over their gaming experience and can vote on what new games are launched on the platform through its Metagrants program. The Metagrants scheme will award developers with winning proposals funding to develop their game on the platform. Metacade’s community is set to award its first grant in the second half of 2023.

Metacade offers some additional user benefits and a variety of ways to earn a crypto income on the platform. The Work2Earn feature will help the Metacade community to launch a career in Web3, as players can access job opportunities with Metacade partners for short-term gigs and freelance positions.

Gamers can also access new titles before they are officially launched through the platform’s beta-testing roles. The community can provide feedback to game developers while playing new titles, uncovering and reporting any bugs that need fixing before launch.

Metacade’s Create2Earn feature will reward members of the community for providing useful contributions to other members. Rewards are earned for posting game reviews, sharing GameFi alpha, and interacting with other users, as Metacade aims to become a central hub for blockchain gamers over time.

Why buy MCADE?

The MCADE token recently launched its presale event, which has been a major success. During the start of Metacade’s presale 230 million tokens were sold, which raised $2.1 million worth of funding to build the Metacade platform.

Metacade could become one of the most widely-used GameFi platforms, with a long-term price prediction of over $1 – a 50x rise from the end of the presale. Early investors could make serious gains, which is why it is the number one best altcoin for 2023 and beyond.

>>> You can participate in the Metacade presale here <<<

2. Litecoin (LTC)

The second best altcoin for 2023 is Litecoin – a cryptocurrency created as a Bitcoin fork. It is often referred to as the silver to Bitcoin’s gold, delivering much of the same functionality but with improved scalability.

Litecoin can achieve block finality in 3.5 minutes – significantly faster than Bitcoin’s ten minutes. The project refers to itself as the second most popular pure cryptocurrency, as its core function is to send money over the internet using a secure, transparent, and trustless blockchain.

Unlike other blockchains, Litecoin does not support the development of decentralized applications (dApps). Instead, the LTC token focuses solely on being a medium of exchange for individuals and merchants worldwide.

Over 2000 shops and other retailers accept LTC for payments, as it has been a reliable method for processing peer-to-peer transactions since its inception in 2011. Litecoin is one of the original cryptocurrencies, being created just 2 years after Bitcoin’s genesis block was mined.

Why buy LTC?

The core team behind the Litecoin project are experienced developers with distinguished careers, with Charlie Lee being the founder. The team continues to build in the Litecoin ecosystem with the aim of making LTC an alternative payment method to BTC that is better suited to day-to-day use.

The Mimblewimble Extension Block (MWEB) went live on the Litecoin network in early 2022, which was touted as the biggest upgrade to the blockchain since it was first launched. The upgrade improves Litecoin’s scalability and can help LTC to become a cash-like cryptocurrency.

The LTC price is currently $62.59. It has an all-time high of over $400 and has the potential to breach $1000 in value over time. At the current price level, LTC is one of the best altcoins for 2023 as it shows major promise for the future of decentralized finance (DeFi).

3. The Sandbox (SAND)

The Sandbox is the third-best altcoin for 2023. The project is an open-world metaverse game that allows users to build their own gaming experiences. Players can buy, sell, and create digital assets that can then be monetized within The Sandbox gameworld.

The project prioritizes user-generated content (UGC) at the foundation of the game. By allowing users to create their own games in The Sandbox, the scope and scale of the virtual landscape are constantly evolving. Users can explore this landscape and participate in a variety of different pastimes, as well as earn crypto tokens in P2E games that other users have built.

The Sandbox provides a toolkit to allow users to create games with customizable rulesets. This allows anyone to become a game developer with little to no programming experience, which can help to boost the overall level of innovation in GameFi over time.

All games can be minted as NFTs and sold on the platform’s marketplace using SAND tokens. SAND can also be used to purchase other gaming assets, such as character upgrades and other unique items. The level of customizability that players can get while playing The Sandbox is a primary reason for its popularity.

Why buy SAND?

The Sandbox is one of the most widely-used blockchain games, with the SAND token regularly being the top metaverse project by market capitalization. Gameplay has been compared to Minecraft, the most purchased PC game of all time.

The popularity of UGC as a gameplay feature is reflected in the early successes of The Sandbox. Over time, the project is expected to grow as the wider GameFi sector becomes more popular among mainstream users.

SAND is currently worth $0.40, down from its all-time high of $7.50. The token has the potential to rise significantly in value over time, which makes it one of the best altcoins for 2023.

4. XRP (XRP)

The fourth best altcoin for 2023 is XRP – a decentralized cryptocurrency that can provide instant liquidity for international settlements. Ripple, the parent company of the XRP cryptocurrency, has formed major partnerships with financial institutions to develop solutions for global transactions using digital assets in various ways.

The XRP token can facilitate near-instant global transactions at almost zero cost to the sender. This represents a major improvement on traditional finance, which typically takes days to confirm cross-border payments and charges a premium for large transaction processing.

For this reason, XRP and other digital assets can reasonably improve the level of efficiency for traditional financial operations. This is the utility being promised by Ripple, which is the foundation of its partnerships with major institutions such as JP Morgan, Santander, and the Bank of England.

Why buy XRP?

XRP has been the subject of a long-term court case with the US Securities and Exchange Commission (SEC). The case against XRP sets out to prove that the token is a security instead of a cryptocurrency; however, it is widely expected that XRP wins the case and gains regulatory approval as a cryptocurrency.

The price of XRP was likely held back during the 2021 bull market due to its ongoing case with the SEC. XRP still remains in the top 10 cryptocurrencies to this day and has a market capitalization of almost $20 billion during the bear market.

The SEC case is expected to end in 2023, with XRP emerging as a legitimate cryptocurrency in the eyes of US prosecutors. XRP could skyrocket in value after this point, which makes it one of the best altcoins for 2023.

5. ChainLink (LINK)

ChainLink is the fifth-best altcoin for 2023. It is a multichain oracle that records data from multiple blockchains, enabling secure interoperability between different networks and helping dApps to share and use data from various off-chain sources.

The protocol enables smart contracts to be read and deployed across different blockchain ecosystems, and stores data from off-chain in a transparent, automatically-updating oracle built on-chain. The oracle can be used to instantly share data that can be used with various applications, such as decentralized exchanges (DEXs) and more.

The off-chain data recorded on ChainLink allows developers to utilize more information in smart contracts and increase the complexity of dApps. ChainLink is one of the most widely used oracle solutions, providing services to major crypto platforms, including Aave and Huobi.

Why buy LINK?

LINK is the native token for the ChainLink ecosystem. The token represents a stake in the protocol, as investors can purchase the token as an investment, store of value, or to send money across the world on a number of different blockchains.

ChainLink also plans to introduce staking for the LINK token, which will increase utility in the future. The staking service will provide passive rewards to validators for securing the network infrastructure.

LINK is currently priced at $5.71, with an all-time high of over $50. The token is expected to reclaim its previous highs and produce major gains over the coming years. For this reason, it is one of the best altcoins for 2023 at the current price level.

Metacade: The best altcoin for 2023

Metacade is, without doubt, the best altcoin for 2023. After rapidly selling 140m MCADE tokens during the beta round, the MCADE token is expected to sell out every other phase of the presale. The event will see the price of MCADE rise from $0.008 to $0.02 per token, which gives investors a limited time to get involved at the current price of $0.01.

The project offers unique functions to Web3 users and a host of different methods for earning an income paid in crypto. Metacade has the potential to become one of the biggest GameFi platforms around, so investors need to be quick to acquire the best altcoin for 2023 before the presale sells out.

You can buy the crypto coins on this list at eToro here.

You can participate in the Metacade presale here.

The post Best Altcoins for 2023 That Could Make You a Fortune appeared first on CoinJournal.

If You Think DOGE Is Worth the Hype After Musk’s Twitter Acquisition, Take a Closer Look at Metacade, Which Has Generated $2 Million in Presale So Far

Just when you thought there couldn’t be any more hype around Dogecoin (DOGE), Elon Musk’s Twitter acquisition sent the rumor mill into overdrive again. Could Musk really intend to incorporate DOGE on Twitter? It’s an intriguing proposition and one that would have serious – read upward – implications for DOGE.

But not everyone buys into the hype around DOGE, Musk, and his Twitter acquisition. When all the noise dies down, things could actually go the other way. Musk could return his focus to Tesla and SpaceX. Twitter could lose market share as Twitterati leave the platform in protest at the new owner. And the familiar negatives around DOGE are still there: unlimited token supply, negligible development, minimal functionality, and lack of widespread acceptance for payment.

For those reasons, many investors are looking beyond DOGE and Musk’s Twitter acquisition, believing great opportunities lie elsewhere. And that’s where Metacade comes in. This GameFi newcomer has created a real buzz in the market, having already generated $2 million in it’s presale raise . Read on to learn why so many people believe it’s the next crypto-gaming sensation.

What is Metacade?

There’s a tangible sense of excitement around GameFi newcomer Metacade (MCADE). In a sector where some companies have placed too much emphasis on the “Fi” and not enough on the “Game,” Metacade (MCADE) gets the balance just right. It features a stunning selection of futuristic metaverse and virtual games alongside much-loved, classic arcade games. Currently available at a great presale price, Metacade (MCADE) delivers the ultimate GameFi experience.

How Metacade Works

Metacade (MCADE) brings together all sides of the crypto gaming and GameFi industry. Players, designers, developers, crypto fanatics, and investors are all enriched – literally – by the connections, synergies, and shared experiences that Metacade (MCADE) facilitates. Acting as a Web3 community hub for GameFi, here’s how Metacade works: 

Blockchain gamers can have fun and generate income from Metacade’s Play2Earn, Compete2Earn, Create2Earn, and Work2Earn functionality. 

Designers and developers can test, showcase, market, and launch new games, organize competitions, communicate directly with players and investors, and recruit new hires.

Crypto fanatics and investors can stake MCADE tokens and benefit from exciting investment opportunities.

Metacade (MCADE) earns revenues from paid games, advertisements, new game launches, paid tournaments, and job postings.

Alongside its fantastic selection of games, new and old, Metacade (MCADE) is also looking to the future with its Metagrants program. This forward-looking initiative provides funding for the development of the next generation of games on the platform. So Metacade doesn’t just host the best games: it’s also actively developing the best new ones! What’s more, part of the revenues from new games will be fed back into the Metacade community.

Mainstream and social media often focus on bad news stories like the FTX crash or big news events like Elon Musk’s Twitter acquisition. That’s a shame because it means they miss out on really interesting stories like the huge potential rise of GameFi and companies like Metacade (MCADE).

Should Investors Choose Metacade Over Dogecoin?

Currently, there aren’t too many bright spots in the crypto industry, but the burgeoning P2E sector is an exception to that rule. Many analysts and experts are predicting the market will soar in 2023, giving the crypto market some much-needed good news. Although Dogecoin (DOGE) got a boost in the aftermath of Musk’s Twitter acquisition, it’s Metacade (MCADE) in the P2E sector that looks like it could really take the market by storm.

Metacade (MCADE) holds the upper hand for a number of other reasons, too. The supply of MCADE tokens is limited, and they offer greater functionality. Next up, the company has been fully audited by Certik to underpin investor security and safety. And finally, the Metacade (MCADE) roadmap includes a commitment to becoming a DAO, thus giving community members governance rights and rewards for their involvement in the company.

All that said, the bottom line is that investment is ultimately about making a profit. Again, Metacade (MCADE) has the advantage over Dogecoin (DOGE). New investors can benefit from an early mover advantage and likely a worthwhile return on the attractive Metacade (MCADE) presale price. But it’s post-launch that things could get really interesting, with some experts speculating on the prospect of 100x gains or more as P2E really takes off.

Elon Musk is the second richest man in the world, so it’s no surprise that his Twitter acquisition and subsequent comments on Dogecoin (DOGE) have driven investors towards this token. But scratch beneath the surface, and it’s not so obvious whether DOGE is genuinely worth the hype.

DOGE or MCADE: The Verdict

As with everything he says and does, Elon Musk’s Twitter acquisition created a media frenzy, including stories about Dogecoin (DOGE). But once everything settled down, the DOGE price is still only showing a small premium since the Twitter take-over. Beyond all the DOGE hype, savvy investors are taking a closer look instead at Metacade (MCADE), especially in light of its impressive presale performance.

But you need to be quick if you want a piece of the action. The first phase of the Metacade (MCADE) presale is nearly sold out, so act now to buy in at the best price.

You can participate in the Metacade presale here.

The post If You Think DOGE Is Worth the Hype After Musk’s Twitter Acquisition, Take a Closer Look at Metacade, Which Has Generated $2 Million in Presale So Far appeared first on CoinJournal.

What to expect in crypto ahead of inflation report, as Bitcoin banks eight straight days of gains


Key Takeaways

  • Bitcoin has increased for eight straight days, now up 9.2% on the year
  • Period of low volatility in the crypto markets paired with softer inflation data has sent prices upward
  • Latest CPI report is out Thursday which will trigger volatility and is vitally important for the market following increased optimism over last month or so
  • Altcoins could move violently on the report, while Bitcoin will likely shake off its $18,000 mark if data comes in below or above expectation

 

Bitcoin has banked eight straight days of price rises, as the new year has kicked off assiduously for cryptocurrency investors.

Whereas 2022 brought nothing but pain and freefalling prices, 2023 has thus far been the exact opposite. Bitcoin is up above $18,000 and Ethereum close to $1,400, good for rises of 9.2% and 16.4% respectively year-to-date. Many altcoins are up even more.

Volatility has reduced in the crypto markets

The macro climate is pushing prices upward. I wrote a piece analysing the softer climate last week, but optimism has crept into the market that inflation may have peaked and that the possibility of a pivot from the Federal Reserve off its policy of heightened interest rates may be coming soon than previously anticipated.  

It should be noted that while this is a nice rally, it is hardly a violent breakout. Cryptocurrencies are notoriously volatile and there has actually been an unusual serenity that has washed over markets over the past couple of weeks.

A quick glance at the chart for the daily returns of Ethereum illustrates that there has been a perceptible fall in volatility.

Inflation data to be released Thursday

I write this on Thursday morning, with the all-important US inflation data to be released this afternoon. If we know anything by now, it is that inflation numbers rule the world. If there is anything in the current climate that will produce volatility, it is the CPI report.

As mentioned above, this relief rally has largely been predicated on softer inflation leading to the hope that the Federal Reserve will pivot off its high-interest-rate policy sooner than anticipated. Another positive inflation number would give further impetus to crypto prices. It is not hard to imagine Bitcoin pushing up towards $20,000 and Ethereum to $1,500 if the number comes in cooler than anticipated.

On the flip side, of course, is the potential for the number to disappoint investors. Following two straight months of positive inflation, a step back this afternoon would be a body blow for crypto, and it would not be a surprise to see it drop sharply as all the optimism of the last month gets released in an instant.

The inflation number is expected at 6.5%. This would be a decline from the prior month of 7.1%. Should the number come in at 6.7% or higher, this would represent a major disappointment and crypto will likely freefall. Do not be surprised to see Bitcoin down at $16,500 in this scenario.

The data will be released at 1:30 PM GMT (8:30 AM ET), and it is the last CPI report before the Federal Reserve’s February 1st interest rate decision.

Altcoins showing signs of life

However bad things have been for Bitcoin and Ethereum, the landscape has been a hell of a lot worse for altcoins. Below are the percentage returns in 2022 from the top 10 coins as of 1st January 2022.

As is standard, these coins are significantly more volatile, and trade like leveraged bets on Bitcoin. It follows that this year, the jumps have also been stronger than the number 1 crypto. 

Looking at the top 10 coins from Jan 1st this year, some of the returns have been seismic, albeit from a significantly lower base. Remember, a 90% drop followed by a 50% rise is still the same as an 85% drop from the original starting point. A simple math problem that many investors do not understand. Hence, the past couple of weeks have been positive, but this is still a space that has been absolutely ravaged by the bloodbath that was 2022, and it will take a very long time to recover from. 

Final thoughts

This is a pivotal week for the markets and it will be a true gauge of how far the battle against inflation has come. Central banks have been adamant that inflation is the number one priority, and the consequent interest rate policy has crushed risk assets over the last year.

Things are tough in the markets, but with a third straight month of OK inflation data, it could point toward a light at the end of the tunnel. Then again, the world is teetering on the edge of a recession as it is, and if inflation takes a step back, it will be a double whammy of high rates and still-persistent inflation. As always, risk assets will feel the pain. 

Crypto investors will just have to hope that the pivotal CPI number doesn’t dare tick up beyond 6.5%. 

The post What to expect in crypto ahead of inflation report, as Bitcoin banks eight straight days of gains appeared first on CoinJournal.