Blockchain

i was wrong..



Miles goes over his 11 crypto predictions from the beginning of 2023 to see which ones were right and wrong.

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๐Ÿ“ฃ ๐—›๐—ผ๐˜€๐˜ & ๐—š๐˜‚๐—ฒ๐˜€๐˜ ๐—–๐—ต๐—ฎ๐—ป๐—ป๐—ฒ๐—น๐˜€:
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๐Ÿ—ž๏ธ ๐—ฆ๐—ถ๐—ด๐—ป ๐˜‚๐—ฝ ๐—ณ๐—ผ๐—ฟ ๐—ผ๐˜‚๐—ฟ ๐—–๐—ฟ๐˜†๐—ฝ๐˜๐—ผ ๐—ก๐—ฒ๐˜„๐˜€๐—น๐—ฒ๐˜๐˜๐—ฒ๐—ฟ๐˜€ ๐—›๐—ฒ๐—ฟ๐—ฒ!
๐Ÿ“ฌ๐‘ป๐’‰๐’† ๐‘ซ๐’‚๐’Š๐’๐’š ๐‘ช๐’‚๐’๐’…๐’๐’† – https://dailycandle.substack.com/
๐Ÿ“ฌ๐‘ฎ๐’๐’๐’… ๐‘ด๐’๐’“๐’๐’Š๐’๐’ˆ ๐‘ช๐’“๐’š๐’‘๐’•๐’ – https://goodmorningcrypto.substack.com/

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#Bitcoin #Crypto #Altcoins

โฑ๐—ง๐—ถ๐—บ๐—ฒ๐˜€๐˜๐—ฎ๐—บ๐—ฝ๐˜€:
00:00 Reviewing Crypto Predictions – Intro
01:00 ETH Dominance
02:18 Bitcoin Touched 30k
03:32 Prediction 3
04:55 Prediction 4
06:37 Retail interest hits cycle lows
08:47 ZK having a Massive Narrative
10:20 L2s Continue to Grow
12:45 XRP Lawsuit Ends
13:30 Prediction 9 – 11
16:40 Conclusion

๐ŸŽฌ๐—ช๐—ฎ๐˜๐—ฐ๐—ต ๐— ๐—ผ๐—ฟ๐—ฒ ๐—ฉ๐—ถ๐—ฑ๐—ฒ๐—ผ๐˜€ ๐˜„๐—ถ๐˜๐—ต ๐— ๐—ถ๐—น๐—ฒ๐˜€ ๐——๐—ฒ๐˜‚๐˜๐˜€๐—ฐ๐—ต๐—ฒ๐—ฟ:

๐Ÿ”Ž๐—ฅ๐—ฒ๐—น๐—ฎ๐˜๐—ฒ๐—ฑ ๐—ฆ๐—ฒ๐—ฎ๐—ฟ๐—ฐ๐—ต๐—ฒ๐˜€: Bitcoin – BTC – Crypto – Altcoins – S&P Prediction – Retail Interest – ETH Dominance – ETH – ZK rollups – L2 Altcoins – SOL – XRP – MATIC – Coinbase

1 year ago I made 11 crypto predictions for 2023 so in today’s video we’re going to review each of those predictions and see how much I got right this year I mean just take yourself back to a year ago the market was so different we were

Coming out of the FTX collapse the the market was tentatively climbing upwards but there was still a lot of panic I think macro was a really big talking point and everyone was expecting a big correction at some point during the year due to the hiking rates um and the rate

Cuts were in the distant future meaning the environment was just very very bearish uh and negative so I think it would be a super fun video today to go through the predictions for 2023 touch on them give you a little bit of uh my insight as to what actually has unfolded

This year and then we can kind of look forward to 2024 and see uh what kind of Trends could eventuate next year so it’s going to be a super fun video without further Ado let’s get straight into the predictions the first prediction I made was that eth dominance hits

23% I said it hasn’t reached these levels since 2018 I don’t think the full extent of the merge is priced in I predict eth will maintain relative strength versus the market and Bitcoin for 2023 and 2024 obviously this video is going to be completely transparent

And honest I got this one wrong I got this one completely wrong if you actually look at uh January 1st you’ll notice that eth dominance was at 19.3 it now sits close to 17% eth has been a lagging performer although maybe in March April May my prediction was

Looking right cuz eth dominance was pumping it went up to 21% it looked like it was going to hit that 23% Target around the time of the Shanghai upgrade it just ended up falling off a cliff towards the end of the year for various reasons mainly because the Bitcoin

Narrative with the spot ETF was just so so strong and I mean no one could really predict that spot ETF happening when it did from the outset so I can’t really blame myself here but objectively I did get this one wrong although I do believe in 2024 ethereum although it’s being

Hated right now is going to make a comeback and perform very strongly uh that’s just my opinion my second prediction was Bitcoin would hit 30k again at some point I said apart from the pre merge bounce we haven’t had a rally yet I think this is likely to

Change in 2023 it might not theane but a Terri um a temporary pump is likely and I mean we did get that pump um we got that pump we kind of had it twice we had the initial thrust up to 30k then the pull back and then this next leg to the

Upside and you have to remember on January 1st when Bitcoin was 18km when I was writing this tweet Bitcoin rallying to 30k seemed super unlikely and super foreign not many people would expect Bitcoin to Rally to 30k in 2023 but this was a prediction that I was fairly firm

On um that at some point we would touch 30k again and that’s exactly what ended up happening uh as soon as April actually 4 months after the tweet and then of course now we’ve smashed through that level and we’re trading over 40K so I don’t think at the start of the year I

Quite expected how explosive this rally was going to be I thought maybe it would get to 30 sto out a little bit correct and and maybe we resume an uptrend after that but I mean the the power um of this of this rally has been a lot stronger

Than I think a lot of us expected which is obviously a great thing but I’ll give myself a tick for number two so number one I got wrong number two I think uh you can assert I got it right considering Bitcoin did hit 30k and did

Have a strong rally despite a lot of people thinking that it wouldn’t number three I said Bitcoin would B in 2023 it’s very funny looking back on these predictions just because when the market was at was so different right so it’s super interesting looking back to where

My head space was um back exactly a year ago I said although I’m expecting relief at some point Bitcoin will likely see new lows I think 2023 marks the cycle bottom based on the current trajectory of rate hikes in tandem with an equity’s pullback now this did actually happen

But it didn’t happen in 2023 the bottom was the FTX collapse and in hindsight that was a really easy bottom to point out what I thought may happen from the outset in January uh was we would see that greater pullback um in q1 to Q2 that’s not what ended up happening FTX

Ended up being the local bottom you have to remember though we did get this big wick uh down to 19.6k there was a period here in March where Bitcoin was super bearish and there was a lot of macro fought and around that point it did look

Like Bitcoin was going to make that new low but it didn’t quite get down to FTX lows so this one technically I got incorrect um although my thinking was right in the sense that we were approaching that stage in the cycle where a bottom was likely um so I guess

My thinking was generally right that we would see the cycle low uh pretty soon uh regarding when that tweet went out but I was wrong in terms of exact time frame it didn’t happen in in 2023 it happened a couple months prior so I did

Get that one wrong uh but I think the thinking was at least legitimate behind that one number four was the s&p500 hits pre pandemic levels this is another one that I got wrong because it although it did have major correction as you can see here it ended up coming down to actually

At 1 um 3800 it didn’t quite get down to that pre- pandemic level which was 3400 so was 400 points off on the S&P um I think I was expecting equities to react a lot worse to macro conditions than they did and I think it startled a lot

Of investors actually that the rally to the upside has been so aggressive on the S&P now as a long-term holder um of equities and you know regular investor into the stock market and the crypto Market this has been an amazing thing so this is one I’m happy to be wrong on but

When we look at the prediction objectively I did get that one wrong all right before we move into number 567 and I promise you there are some very interesting predictions coming uh I had some kind of uh curveball predictions which actually ended up coming right uh which I’m excited to share with you

Although some of these initial ones have been wrong um I want to quickly give a shout out to one of our official show Partners which is smartex if you do want to swap crypto assets across a variety of layer 2s and ethereum as well you can

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Check out smartex uh they’ve built an amazing platform and is one of the strongest amm in crypto let’s get on with the rest of these predictions next prediction retail interest hits cycle lows I said the bare Market’s boring I think we’re going to see retail exit the

Market and lose stamina this is exactly what happened 2023 was brutal in terms of stamina and Retail interest like yes technically the FTX low um was the low of the market like this was the low of the market but in terms of General interest this period here this August

September October period where Bitcoin was 25k it was brutal and it’s funny because you look at the chart and you go well crypto shouldn’t be performing badly in terms of retail interest in this period it’s had a massive rally it was it was awful views on videos like my

Videos were getting like 7,000 views 8,000 n like below 10K for the first time at my history in in uploading on crypto banter um and and that’s a great retail indicator for interest and if we look at the Google Trends we can see this is exactly what happened October

8th to 14th was the lowest retail interest in crypto despite Bitcoin being around 25k that we had this cycle so this prediction was right retail interest hits cycle lows is correct if you’re looking at Google Trends as your analytics or if you’re looking at YouTube views as your analytics and I

Think these are the two most accurate indicators of retail interest so it was a really boring year and I think credit to everyone that’s watching this video because you stuck through what was a really really really boring period for crypto nothing was happening and now

We’re on the other side and we’re re um and we’re reaping the fruit of our labor and we did toil hard during 2023 it was not an easy year and it took a lot of stamina because yeah it was a super boring year and the thing is even though

Bitcoin was going up it was really against General sentiment everyone was calling lower and lower and lower and macro is going to get worse and worse and worse and we’re going to see a huge crash and stock market was correct and Bitcoin was going to correct there was a

Lot of negative energy around crypto so the the pumps were kind of defying General sentiment and there was always this feeling of oh no crypto is just going to come down again you know it’s just a bare Mark rally it’s going to come down again and that’s where the

Kind of disbelief kicked in and actually gave fuel to that explosive rally to the upside because everyone was uh actually fading that rally so that’s one of the reasons I think it was so explosive prediction number six that I made was that ZK rollups and ZK evm would be top

Performers I said ZK is one of the most exciting crypto Innovations out of the top performers list I expect ZK to feature heavily in the top 20 by the end of 202 3 so this one’s an interesting prediction because ZK did have a massive massive massive rally around the

February March period which is a couple months after this tweet in fact from the time of the Tweet first of jam I’m looking at Mina protocol which is a uh very synonymous with ZK pumped 176% another one that we can take from the ZK narrative pumped 160% these were the

Strongest gainers of q1 now the momentum did not last the entirety of the year so if you take this prediction on face value and try and assert I mean Mina has had a recovery so I guess maybe it still is a top performer for the year but if you

Try and assert overall throughout the whole year if it’s a top performer I would say I got this prediction wrong but we did see that really really really strong narrative and for that reason I’m going to give this a tentative tick I mean it’s kind of subjective whether you

Want to give this a tick or um a cross if you’re looking at the whole year in entirety there were better performers if you’re looking at top performers throughout certain points of the year I was right so I was right in terms of the trend maybe wrong in terms of the the

Longevity of the trend however I still think ZK is going to feature quite heavily in the future as its Tech I really believe in and its Tech uh that I’m investing in I think it’s really going to help ethereum scale so um I’m still a big believer in ZK Tech and I

Think the rally earlier in the year just gave us signs of what’s to come in the future maybe not for those specific alts but definitely for ZK alts in general Point number seven l2s continue to grow this is another really difficult one to quantify and it’s another kind of

Borderline pass but I mean probably a neutral one considering layer 2s throughout the entirety of the year were stagnant so technically they did have a slight rally at the start of the year around the whole uh Shanghai upgrade period but they’re flat man I mean just

Just just look at this like it’s pretty much flat there was barely any change in terms of tvl and there wasn’t a huge change in terms of transactions now technically I was right in the sense that uh l2s did gain on ethereum in terms of transactions because you had

The base launched with frch and you and you had more l2s coming in into the market but it’s not really a fair comparison right because there’s one ethereum and new l2s are launching all the time ZK sink out a lot of hype stocket has a lot of hype lots of

Airdrop farming so clearly it’s going to outpace ethereum which is just one protocol so if you’re taking the average I think it was fairly neutral and tvl was fairly neutral on a percentage basis on a total aggregate transaction basis you could say I was correct but it’s

Kind of a bit of a cheeky prediction because it’s pretty much impossible not to be correct when you’re when you’re getting L2 dilution so yeah it’s a pass mark but just like number six it’s kind of neutral um so I’m going to say that’s a neutral one before we get into

Predictions 8 through to 11 I want to give a shout out to coin web who who are an official partner of the show they’ve built an amazing interoperability protocol which allows you to deploy cross chain tokens and cross-chain applications so interoperability is going to be a big narrative in my

Opinion in 2024 and Beyond it’s definitely a narrative I’m on the lookout for uh and if you want to get involved with coin web in any way what you can do is you can complete their zely Quest there’s a link in the description to this tweet below and 10

Lucky winners are going to win $250 with an exclusive Crypt baned giveaway so use the link in the description to check out Queen web and you can see here is the Twitter link all you need to do is click on that then click on zely and do some

Very basic things like join the Discord follow them on Twitter and you can put yourself in a position to win potentially $250 another thing you can do is if you’re holding the cweb token in your coin web wallet there is a chance and I can’t confirm nor deny anything but

There is a chance there might be an airdrop on the way for you in the future so that’s another thing you can do if you are bullish on the ecosystem so Link in the description below to Coen web to check it out so number eight xrp court

Case comes to an end this is exactly what happened I mean it wasn’t exactly the greatest prediction in the world because it was pretty much heading on that timeline that it was going to um end in in 2023 and although technically there’s some legal stuff still playing

Out the major ruling that we got was that the US judge uh ruled that xrp sales on public crypto exchanges were not offers of Securities under the law this has raised questions about the potential implications for other cryptocurrencies particularly those previously categorized as Securities by the SEC so number eight was correct the

Court case I mean at least that phase of the court case did come to an end there’s still some stuff playing out but they also settled with the founders as well so that one is pretty much behind us now number nine this is a big prediction I wish I worded this more

Boldly my prediction was Soul doesn’t die but what I really should have said was soul is going to outperform or soul is going to shock people um because it didn’t it not only did it not die but it absolutely pumped and this is something I’ve had conviction in for the last year

And one I’ve been buying on major dips you can see in front of you I tweeted when I was buying Soul during the Robin Hood Force selling I tweeted that the Galaxy selling was being blown out of proportion I was also buying um a around this period as well I was also DCA

Actually during the FTX collapse so I was using these periods to DCA to Soul I was sharing a lot of those on the shows if you’ve been watching my show for the last couple years you would know I’ve been a big bull of Soul I’ve tweeted

About it multiple times um and yeah this one’s been amazing I mean what what what can I even say about Sol it’s been probably my best performing major this year technically I’ve hit more multiples on some meme coins things like Pepe Etc but soul out of the majors and

Dollarwise has been my best performer this year I think it’s been rans best performer as well it’s been absolutely amazing uh love salana love the community and this was an emphatic win I just wish I worded it a bit better than Soul doesn’t die because it it didn’t

Die I said the development ecosystem is too strong for that to happen although there are some concerns um regarding Alam and those concerns were definitely factored into price multiple times throughout the year wasn’t of course until Q4 that we really got that explosive rally prediction number 10 I’m

Going to call this one a loss I said mad continues to dominate the uh bis Dev crypto space I mean they haven’t out some major Partnerships this year but probably just not on the same Pace as 2022 so it’s going to be hard for me to give myself the win for that one

Prediction number 11 which is the last prediction though was a massive massive win for me um because if you look at January 3rd the price of coinbase stock was at $30 it’s now at $175 and this is one that I’ve been talking that I was talking about heavily

Around that time as well as um being a decent proxy bet for the crypto Market and something that I was actively looking at and yeah this is completely I mean for a stock to do a 5x or a 6X is absolutely insane you don’t see stocks 5

To 6 Xing much at all so this was an incredible play um and it’s actually outperformed Bitcoin so I mean that says it all it’s more than Double Apple form Bitcoin cuz bitcoin’s 2 and a half xed and this is um more than 5 and a half

Almost 6X from its prices in January so I said as the second biggest crypto exchange by volume with good on ramps and UI plus us regulation coinbase is set to capture upside from increased trading activity true that is what happened whether that’s 2023 or 2024 at

Some at some point it should make a strong recovery and yeah it did um it did make a strong recovery a lot of that happened at the end of this year so I said 20123 2024 happened um towards the end of 2023 and yeah this this was

Another emphatic win so I I said at the end I may not get all these predictions right but I thought it’d be fun to have a go I’m interested to look back at these in a year and see how they fed this was super interesting this is one

Of the most interesting videos I think I’ve made because it’s very um interesting looking back at where my head space and not just mine but the market was at the time it was pretty bearish and some of these were actually pretty bold predictions at the time um

And some of them I got completely wrong but it’s just super interesting to see how things evolve over time and of course as new information comes to light that is when you have opportunities to tweak your thesis I always believe it’s important to be adaptive in the market

The best investors are adaptive they change their thesis when new information comes to light and I would say the biggest trigger point uh this year was the Bitcoin spot ETF and that clearly changed my thesis on eth dominance at some point during the year and that clearly changed my thesis on you know

Bitcoin’s um rally and it also changed the thesis for a bunch of other narratives in the market as well so obviously in January 1st when I made these predictions I I wasn’t sticking to all of them by June 1 uh when when you have more information in the market you

Continue to tweak your thesis and things change over time but certainly it’s interesting looking back on January 1st and looking at these predictions and seeing where my head space was at so this was really fun I’m going to do another thread over the next few days so

Definitely keep a lookout for that on my Twitter profile where I go through my 11 predictions or maybe more around 10 um but maybe I do 11 again just for consistency sake predictions for 2024 I’ve got a few pretty bold ones I’m going to make uh and then next year

We’re going to do the exact same thing I’m going to look over them and see how accurately I predicted things so yeah I got some things extremely wrong I also got some things extremely right so a bit of a mixed bag but overall I’m I’m pretty happy with some of them um and

The ones that mattered I think really made the difference the coinbase shares made a huge difference the soul one made a huge difference the Bitcoin rally when a lot of people thought it was going to keep going lower made a huge difference cuz otherwise I wouldn’t have been

Comfortable entering the market and yeah I just think those made made a big difference and then there was some things I got wrong like I was slightly overweight ethereum this year that I guess did really well in the first half of the year but but kind of ended up

Backfiring in the end and there were a couple other ones in there which which just were kind of neutral like the L2 thing like I I was you know playing the EIP narrative l2s have performed but they haven’t performed as strongly as salana and some other coins as well so

There’s an opportunity cost attached to some of those which um impacted my portfolio a bit but overall look happy with the year feeling ecstatic now obviously with what’s happening in the market and super super proud that I battled through and you guys battled through and we on the other side and

Really reaping um the rewards now heading into 2024 and I really hope 2024 is that defining year for a lot of you I think look up made money in this market but I’m looking forward to next year as as a potential year where things go to another level um for me personally and

Also for a lot of you watching I mean you’ve worked really hard and I think next year with a bit of luck we could really see the payoff and I mean we’re seeing it already but we could see even further payoff um for for our efforts

And and and I really hope this is the a lot of you make it I’m seeing messages from some people getting you know huge airdrops that have been following my guides people getting you know huge um meme coin pumps on salana and making life changing money and honestly that’s

Awesome because the the ethos of banter is to build the most profitable community and when I see things like that um it’s just amazing that we’re actually able to empower and make people’s um lives better so I do hope 2024 uh continues to be the same by the

Way on the topic of airdrops uh I want to remind you that 20x who is an official show partner have the fourth round of their airdrop commencing soon soon they’re basically a brc2 inscription protocol which allows you to trade inscriptions one of the very first of its kind and they are doing regular

Airdrops for people that hold um ordinal based tokens in their wallet like some of the tokens listed below their third round has officially closed however if you follow them on Twitter using the link in the description below will link their Twitter account you can follow them on Twitter for updates because

They’ll be giving updates based on the latest airdrops as they continue to do them and this is the primary way for you to get your hands on the 20x token right now so follow the link in the description to access the aird drops over there and I will see you in the

Next video Merry Christmas to everyone watching this on Christmas I might upload it on boxing day I’m not quite sure but Merry Christmas nonetheless whenever this video does come out hope everyone has an amazing holiday and I’ll see you around the new year period have an amazing day peace out [Applause] I

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