March 7th, 2024
Welcome to our periodic Diamond Pigs newsletter.
Key Insights:
–Macro Economic Condition: Potential delays in rate cuts by the Fed due to persistent high inflation could impact crypto valuations.
–The Crypto Bull Market & Diamond Pigs Strategies: BTC approaches all-time highs, driving bullish market sentiment and strong gains in Duroc, Berkshire, and Gascon strategies.
–New Exchange Kraken: Introduction and upcoming testing phase for Diamond Pigs members, with ByBit integration to follow in April-May.
–Expanding Capabilities & Enhancing User Support: Final stages of Signals platform development and testing of AI-powered support.
Macro Economic Condition
According to Grayscale, macroeconomic factors may act as a barrier to further crypto valuation increases in the near term. “If inflation remains stubbornly high, Fed officials may consider delaying rate cuts until later in the year or until 2025,” analysts at the crypto asset manager noted. Despite Bitcoin’s price surging by 45% in February and nearing its all-time high, a less favorable macro outlook could potentially hold back valuations. Grayscale suggests monitoring upcoming inflation reports and Federal Reserve meetings closely.
The Crypto Bull Market & Diamond Pigs Strategies
The euphoric sentiment, institutional buying, and historical gains linked to Bitcoin’s halving event are setting the stage for the asset to possibly surpass its all-time highs. The market has entered an Extreme Greed phase for the first time in two years, with Bitcoin’s dominance remaining strong at 54%. At the same time, several altcoins, including those related to AI, Ethereum Layer 2, GameFi, and Meme coins, are showing notable gains.
Our strategies, Duroc, Berkshire, and Gascon, are reflecting the market’s bullish behavior with significant growth over the last month, all booking gains of above 45% in the last 30 days. It’s worth mentioning that we haven’t officially entered the altcoin season, which usually follows after BTC and ETH have achieved significant gains. Currently, we see that the Bitcoin/Ethereum ratio is weakening, which means that Ethereum is performing stronger than Bitcoin. Historically, this trend has eventually triggered the altcoin season, which can be extremely bullish but also can end after a short period of several weeks or months.
An Important Note About Bots and Strategies in Volatile Markets
We frequently address inquiries about our bots’ responses, especially during market corrections like the one experienced yesterday. Remember, the crypto market is highly volatile and demands strategic navigation. Bot decisions—whether to take profits or minimize losses—depend on various factors such as bot types, coin history, and market conditions.
Using ‘Duroc’ as an example, not all bots exit after a minor 5-10% market dip, reflecting their design for different scenarios. While yesterday’s drop didn’t trigger a mass exit, bots like AR and RUNE took profit, and newcomers STX and DYDX leveraged the situation by buying the dip. This adaptability meant Duroc recovered to its pre-drop level. Significant declines, however, will prompt an exit to prevent larger losses.
For a deeper dive into our bot strategies, visit our blog at https://diamondpigs.com/blog/. You’ll find comprehensive insights on our various strategies and bot functionalities.
Launching Kraken as an Additional Exchange
We are excited to announce that Kraken will be the next exchange offered to our Diamond Pigs members. The development is complete, and we are currently testing the connection with a select group of users. We aim to ensure everything is functioning perfectly before launching the integration to all our customers. If you’re interested in connecting your Kraken account to Diamond Pigs, please fill in your name on the provided form, and we will reach out to you as soon as the integration is ready. Up next: ByBit, which is expected to launch in April-May this year.
Nice to Know: Expanding Capabilities & Enhancing User Support
As we continue to enhance our offerings and improve user experience, the Diamond Pigs team is excited to share some significant developments.
Signals Platform Development: We are in the final stages of developing the Signals platform, which we expect to launch at the beginning of Q3. This new feature is designed for users who wish to actively trade on their own, providing them with bots that deliver timely and precise signals for optimal entry and exit points. The signals will be available through various channels, including WhatsApp, email, and eventually Telegram and Discord. With a beautifully user-friendly interface, the platform will enable users to automate the execution of trades across different exchanges seamlessly.
AI-Powered Support: On the support side, we are pioneering a new frontier with the introduction of a fully AI-powered chat system. Currently under testing, this system is being trained by ChatGPT to assist our users more quickly and intelligently with any questions or issues they might encounter. We’re dedicated to ensuring that our community receives the best support possible, and we believe this advancement in AI technology will significantly enhance user assistance.
Stay tuned for more updates on these exciting developments!
Best regards,
The Diamond Pigs Team