Top Crypto Trader: Focus on Meme Coins, Bitcoin Price Won’t Move in February
As markets brace for an expected bull run this year, traders are rushing to position their portfolios between meme coins and BTC ahead of the halving event, but what do the experts say about Bitcoin in February 2024?
Amid the chaos of Bitcoin hitting a 2-year high, Bitcoin price predictions are sweeping through the market, but one top crypto trader appears to be making waves with his multi-million dollar ideas.
January:
Bitcoin essentially same price as yearly open. Mostly just day traded Bitcoin in January.. didn't hold much risk overnight.
Expecting same approach for Feb. and March.
Current market focus seems to be more on meme coins (lol) and somewhat random lower liquidity CEX… pic.twitter.com/tUc9xv8Bfx
— Loma (@LomahCrypto) February 5, 2024
Loma believes that the next couple of months for BTC could see relative inactivity heading towards the Bitcoin halving, whilst later this year the trader is anticipating major movements.
Bitcoin in February 2024: How Does Loma Crypto Believe BTC Will Perform Pre-Halving?
Loma’s theory is based off his trading performance over the past month, with the prominent trader reeling in an alluring PnL of $2.9m Year-to-Date.
These profits have been mostly secured through day trading, with the trader seemingly reluctant to take long time-frame positions in BTC over the past month.
Market participants, by and large seem to be mirroring this approach as Bitcoin Futures Open Interest also hits 2-year highs at $21bn.
This is a strategy Loma intends to take forward into the months ahead, with the trader anticipating that Bitcoin markets will see relatively little volatility over the course of February and March.
Top BTC Trader Loma Argues Current Market Focus: Meme Coins and CEX Tokens
Loma’s analysis on the current market focus ahead of the Bitcoin halving event seems to gravitate towards two main categories of coins.
Firstly, the trader identifies the flurry of activity in meme coin markets, which have predominantly shifted away from Ethereum’s ERC-20 standard due to high gas fees.
Solana has now become center-stage for meme coin developers, and traders aren’t missing out on the action, with the past two weeks witnessing a number of eye-watering Solana meme coin pumps such as MYRO and BONK.
Aside from the thriving meme coin vertical, the second category of coins is random lower liquidity CEX coins – with coins like Tellor Tributes and NEO’s GAS token undertaking major pumps in recent weeks.
Why Does Bitcoin Price Prediction Theorize BTC Pump in Late 2024?
Loma predicts a Bitcoin bull run in 2024, in line with the crypto market’s cyclical patterns.
This outlook is reinforced by factors like the SEC’s approval of Spot Bitcoin ETFs, facilitating institutional capital flow. Furthermore, the upcoming Bitcoin halving in late April will reduce block rewards, tightening supply against rising demand.
Loma, among others, anticipates these factors will drive significant price gains post-halving, pointing to a bull run in the second half of 2024.
With Crypto Markets Poised For H2 2024: Best Pre-Halving Meme Coins Play?
$SMOG champions the slogan “No meme coin can survive the fiery flames of SMOG,” offering holders access to the elite ‘The Dragon’s Court’ crypto community.
This community aims to achieve unmatched virality in the meme coin domain.
They do this by launching exciting, interactive, and continuous multi-airdrop campaigns to playfully engage users.
To participate, individuals must purchase and retain $SMOG, which allows them to earn airdrop points. Although the exact rewards and specifics of the airdrop campaigns are yet to be revealed, the sense of anticipation is growing.
Moreover, $SMOG holders can benefit from a community bounty produced by the campaign, further incentivizing the retention of their holdings.
SMOG Token Aims To Unlock Major Virality Through Airdrop Campaign Community – Huge 50% of Token Supply Designated to Marketing
The Smog project’s tokenomics highlight the team’s commitment to achieving viral success for their airdrop campaign.
Developers have earmarked a significant 50% of the supply for marketing, showcasing their ambitious plans.
They have reserved a significant 35% of the supply for future airdrop rewards, highlighting the promise of attractive prizes.
Efforts to decrease the circulating supply position the SMOG token for a stronger start compared to previous Solana meme coin surges like BONK, which has seen an impressive +862% year-to-date (YTD) gain despite its pullbacks.
Discover The Dragon’s Lair: Exploring Smog Token’s Extensive Roadmap
The project’s future is outlined in a detailed roadmap, showcasing several exciting milestones.
Key highlights include the introduction of a staking feature and suggesting upcoming airdrop initiatives. Additionally, discussions of a potential burn mechanism and plans for multiple future airdrop launches are noteworthy.
Uniquely, the project also lists the milestone target of achieving 10,000+ so-called ‘Loyal Chosen’.
Joining this exclusive and enigmatic group requires selection and a pledge to the SMOG realm via several community initiation rituals. This commitment comes with the promise of enhanced airdrop rewards.
How to Buy SMOG Token and Participate in SMOG Meme Coins Airdrop Campaign?
In order to participate in the SMOG airdrop campaign, traders will need to use a Solana-compatible wallet such as Phantom.
Then, using SOL, USDT, or BONK tokens, users can swap for Smog via the Jupiter DEX aggregator or Birdeye.
To improve your likelihood of selection for the Loyal Chosen and enhance your airdrop earnings, engage in completing the community task list on Zealy.
Join the Smog community on X (Twitter), Discord, and Telegram to stay tuned with the latest news and updates.
Explore the Lite Paper to find out more, and super charge your profits away from Bitcoin in February 2024!
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
