Avenger Call – 15 Oct 24

00:32: Whether to allocate portfolio to meme coins and their potential for the 2025 bull run.
01:16: Bitcoin’s price action and its macro and short-term trends. Discuss altcoins and answer audience questions.
02:06: Bitcoin’s 3-day chart, noting a potential trend reversal and the need for a breakout of the all-time high.
03:32: Kaspa’s recent price decline, considering the next steps.
05:11: The Total 3 crypto market cap, noting a potential W-shaped retest and move back up towards $650 billion.
06:19: Tao’s price action, highlighting a potential move down to $500 due to the strength of the previous rally.
07:44: Significant inflows into the Bitcoin ETF, with various institutions like BlackRock, Fidelity, and Grayscale contributing.
10:15: BlackRock’s positive comments on Bitcoin and the potential impact on price and volatility in the long term.
14:05: The rise of meme coins, including the insights from a recent conference presentation, and the potential utility they offer.
21:16: Meme coins have outperformed Bitcoin in year-to-date returns, with some seeing 4,500% to 16,000% gains.
22:45: “cult-like” following for meme coins, which can drive significant price appreciation.
25:47: The top 300 tokens by 30-day growth, finding that 19 of the top 30 were meme coins.
27:45: Price charts of several meme coins, noting 4x to 40x gains in a matter of weeks.
30:25: Holding a small position in various meme coins to participate in their potential upside, despite the high-risk nature.
33:27: The need to see meme coins perform well even as the broader market moves.
36:31: The challenges meme coins may face in getting listed on major exchanges due to their unconventional names and branding.
40:16: Rapid price increases of meme coins, like Bittensor going from $20 to $800.
41:47: Intent to track the performance of meme coins invested in, and keep the group informed on the results.
43:18: Skepticism about TAO reaching 2% market cap, noting the difficulty of disrupting larger established coins like BNB and Solana.
47:24: The market has seen a 5.5% uptick in October, potentially signaling the end of the October curse, but cautioned against getting too excited too early.
54:41: Issues with the MEXC exchange, including potential regulatory concerns and difficulties in accessing and moving data.
01:00:39: The 20-EMA is flattening, indicating a potential pullback. Need to wait and see how the price action develops.
01:01:28: Reviewed the Gamer Arena project, which allows competitive gaming with token-based rewards.
01:04:47: Ordinals and Runes protocol on Bitcoin, which offer opportunities for memes.
01:06:23: Analysed the Bittensor chart, noting a rising compression pattern and tapering volume.
01:14:16: Considering selling some Kaspa and Polkadot holdings to reallocate to Tao or other assets with better growth potential.
01:15:46: Bitcoin dominance reaching a new cycle high, indicating the potential for altcoins to catch up in the coming weeks.