10x Research, an institutional crypto research firm founded by Matrixport’s former research director Markus Thielen, announced its month-end assessment for Bitcoin and crypto as investors await clues from the US FOMC meeting and Federal Reserve Chairman Jerome Powell’s speech at the FOMC press conference. Markus Thielen recommends post-FOMC recalibration for ideal portfolio. The analyst, who predicts that Bitcoin will drop to $ 38,000, expects a rise to $ 50,000 after the FOMC.
Advice on Markus Thielen’s crypto and Bitcoin portfolio
Analyst Markus Thielen, who predicts that Bitcoin will fall to $38,000, recommends portfolio rebalancing for RIA, asset managers and other medium- and long-term crypto investors for the next month. The analyst limits each token to 20% for an ideally balanced portfolio. In the portfolio, Bitcoin weighs in at 20% and Ethereum at 20%. Additionally, for the ideal portfolio, BNB 9.3%, Solana 9.2%, XRP 7.9%, Cardano 7.2%, Avalanche 6.8%, Tron 6.6%, Chainlink 6.5% and Polkadot 6%, 5 recommends. According to the analyst, this strategy has performed similar to Bitcoin’s returns over the last 12 months. The leading cryptocurrency has increased by over 150% in the last 12 months.
Bitcoin accounted for 41% of transaction volumes in the last 24 hours, while Ethereum accounted for 18%. Overall, Bitcoin dominance remained above 51%. Therefore, it is too early to call the altcoin rally a sustainable transition. Bitcoin and Ethereum are up only 1% and 2%. TIA was the leader this year with 58%, BLUR 35%, ASTR 31% and SEI 24%. On the other hand, APT is down 36%, LUNC is down 30%, ALGO is down 27%, and BSV is down 27%.
According to the report, BlackRock and Fidelity ETFs witnessed the highest inflows. But both recorded only $651 million in transactions per day (combined volume) against Bitcoin’s $23 billion in total volume. This situation surprised market participants. Many people even thought that Grayscale’s GBTC outflows were effective in the decline in Bitcoin price from $ 44,000 to $ 38,500.
BTC price prediction for post-FOMC
Markus Thielen predicts an upcoming Bitcoin (BTC) price rally as the 5th wave begins. The analyst predicts that BTC price will reclaim the 50,000 level by the end of this quarter. However, Thielen says that BTC price will continue to consolidate for a few days before it starts to rise towards $50,000. Thielen recommends buying Bitcoin above $43,000 despite minor resistance in the $43,000-44,000 range.
Meanwhile, popular analyst Michael van de Poppe expects a range-bound trend between $38-48 thousand. A slight pre-halving rally to $48,000 is likely following a short-term correction.
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