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Musks newest SpaceX employee, a 14-year-old child prodigy, becomes youngest-ever software engineer – Fox Business

June 26, 2023 | Author: admin

SpaceX software engineer Kairan Quazi tells 'The Claman Countdown' how he landed a job working for Elon Musk.

While most 14-year-olds are preparing to enter high school, child prodigy Kairan Quazi is gearing up to launch his career at SpaceX working as a software engineer.

Quazi will begin working on Elon Musk's satellite internet constellation, Starlink, making him the youngest-ever space software engineer.

ELON MUSK'S GROUNDBREAKING BRAIN-COMPUTER INTERFACE GETS GREEN LIGHT FOR HUMAN TRIALS

"I was speaking in full sentences at age two. I started doing programming at seven, and I was reading complicated books. I remember I was just six or seven, I think, and my parents took me to Barnes & Noble and I really wanted to buy a pre-calc book," Quazi explained during his appearance on "The Claman Countdown," Wednesday.

SANTA CLARA, CALIFORNIA - JUNE 06: Kairan Quazi, a 14-year-old graduating from Santa Clara University and beginning a job soon as SpaceX's youngest software engineer, at the ring ceremony for the Order of the Engineer at Santa Clara University in San (Shae Hammond/Digital First Media/The Mercury News / Getty Images)

"That was one of my first exposures to very advanced math. And, unbeknownst to them, I did learn from it. And so that really helped when I started community college at age nine," he continued.

Quazi enrolled in Las Positas College, a community college in Livermore, California, at a mere nine years old. Two years later, he transferred to Santa Clara University to study computer science and engineering and recently became the school's youngest-ever graduate.

ELON MUSK SAYS 'CIS' AND 'CISGENDER' ARE CONSIDERED SLURS ON TWITTER

According to Quazi, college felt "natural," and was a place where he felt he could completely be himself.

"It really feels natural, like I'm with people that I can completely be myself around. I don't have to censor my speech or conversations. I'm also very active on campus, and I'm lucky to be embraced by a lot of very close friends, which does include a few professors," he said Thursday.

Former Astronaut Leroy Chiao discusses future American space endeavors, the NASA-SpaceX partnership, commercial space operations, and past experiences on 'Cavuto: Coast to Coast.'

The California native went on to describe his traditional education as "slow suffocation."

"My experience in traditional schools was a slow suffocation for me. It was physically, emotionally and intellectually painful for me to sit in the classroom for days and months and eventually, years on end, not learning at an appropriate pace for me. And while I did look forward to recess and spending time with friends and of course, my daily trip to the principal's office, it was very painful," Quazi explained.

SPACEX'S STARLINK AWARDED PENTAGON CONTRACT FOR SUPPLYING SATELLITES TO UKRAINE

Quazi explained that he received a "variety of infractions" because "it turns out that teachers don't really like it when you want to be a co-instructor."

Sen. Mike Braun, R-Ind., joined The Big Money Show to discuss the growing tensions between the U.S. and China, urging the Biden administration to decouple.

Despite his impressive background, Quazi was rejected by 95 different companies in his job application search following graduation. Fortunately, he eventually received three offers one of which was from Elon Musk.

SPACEX HIRES 14-YEAR-OLD AS SOFTWARE ENGINEER

"My journey was not easy," Quazi began. "Both due to my circumstances and biases as well as market timing. I received 95 rejections, two offers that were placed on hiatus, and then finally three offers, one of which was SpaceX."

SpaceX is known for having a cripplingly rigorous interview process, but according to Quazi, his experience in the company's 10-round interview process was "a lot of fun."

SANTA CLARA, CALIFORNIA - JUNE 06: Kairan Quazi, a 14-year-old graduating from Santa Clara University and beginning a job soon as SpaceX's youngest software engineer, sits at Santa Clara University in Santa Clara, Calif., on Tuesday, June 6, 2023. (S (Shae Hammond/Digital First Media/The Mercury News / Getty Images)

"I heard a lot about the SpaceX interview process being among the most difficult of any companies. I think it takes up something like what, 0.2% of applicants? But it turns out that their interview philosophy, which heavily focuses on wide-ranging technical skills and the ability to think under pressure, really suits my background. I had something like ten interview rounds across various different formats. But they were a lot of fun for me," he told FOX Business.

Quazi is scheduled to begin at SpaceX's Starlink in July, where he will catapult his career working as a space software engineer.

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Musks newest SpaceX employee, a 14-year-old child prodigy, becomes youngest-ever software engineer - Fox Business

Artificial Intelligence: The Journey to a Thinking Machine – Visual Capitalist

June 26, 2023 | Author: admin

Artificial Intelligence: The Journey to a Thinking Machine

When the latest iteration of generative artificial intelligence dropped in late 2022, it was clear that something significant had changed.

The language model ChatGPT reached 100 million active monthly users in just two months, making it the fastest-growing consumer application in history. Meanwhile, Goldman Sachs predicted that AI could add 7% to global GDP over a 10-year period, almost $7 trillion, but also replace 300 million jobs in the process.

But even as AI continues to disrupt every aspect of life and work, its worth taking a step back.

In this visualization, the first in a three-part series called The AI Revolution for sponsor VERSES AI, we ask how we got here, where were going, and how close are we to achieving a truly thinking machine?

The term artificial Intelligence was coined by computer scientist John McCarthy in 1955 in a conference proposal. Along with Alan Turing, Marvin Minsky, and many others, he is often referred to as one of the fathers of AI.

Since then, AI has grown in leaps and bounds. AI has mastered chess, beating Russian grandmaster and former World Chess Champion Garry Kasparov in 1997. In 2016, Googles AlphaGo beat South Korean Go champion Lee Sedol, 4-1. The nine-year gap in achievements is explained by the complexity of Go, which has 10360 possible moves compared to chess paltry 10123 combinations.

DALL-E arrived in 2021 and ChatGPT-4 in early 2023, which brings us to today.

Theres a big difference between the Roomba that vacuums your condo and HAL from 2001: Space Odyssey. This is why researchers working in the field have come up with the following ways to classify AI:

Despite a false alarm by one Google software engineer in 2022 and a paper by early GPT-4 boosters, no one really believes that recent generative AIs qualify as thinking machines, however you define it. ChatGPT, for all its capabilities, is still just a souped-up version of autocomplete.

That was the title of Philip K. Dicks science fiction classic and basis for the movie Blade Runner. In it, Harrison Ford plays a blade runner, a kind of private investigator who used a version of the Turing Test to ferret out life-like androids. But were not Harrison Ford and this isnt science fiction, so how could we tell?

People working in the field have proposed various tests over the years. Cognitive scientist Ben Goertzel thought that if an AI could enroll in college, do the coursework and graduate, then it would pass. Steve Wozniak, co-founder of Apple, suggested that if an AI could enter a strange house, find the kitchen, and then make a cup of coffee, then it would meet the threshold.

A common thread that runs through many of them, however, is the ability to perform at one thing that humans do without effort: generalize, adapt, and problem solve. And this is something that AI has traditionally struggled at, even as it continues to excel on other tasks.

And it may be that the current approach, which has shown incredible results, is running out of road.

Researchers have created thousands of benchmarks to test the performance of AI models on a range of human tasks, from image classification to natural language inference.According to Stanford Universitys AI Index, AI scores on standard benchmarks have begun to plateau, with median improvement in 2022 limited to just 4%.

New comprehensive benchmark suites have begun to appear in response, like BIG-Bench and HELM, but will these share the same fate as their predecessors? Quickly surpassed, but still no closer to an AIlike J.A.R.V.I.S. that could pass the Wozniak Coffee Test?

VERSES AI, a cognitive computing company specializing in next generation AI and the sponsor of this piece, may have an answer.

The company recently released research that shows how to build an AI that can not only think, but also introspect and explain its thought processes. Catch the next part of The AI Revolution series to learn more.

Learn more about how VERSES AI is building a smarter world.

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Artificial Intelligence: The Journey to a Thinking Machine - Visual Capitalist

Exploring the Economic Opportunities of Generative AI – Analytics Insight

June 26, 2023 | Author: admin

Lets examine the economic opportunities and industries employing generative AI.

Because of their broad utility and preternatural ability to have a conversation with a user, generative AI applications like ChatGPT, GitHub, Copilot, and Stable Diffusion have captured the imagination of people all over the world in a way that AlphaGo did not. The reorganization and classification of data are two examples of commonplace tasks that the most recent generative AI applications can carry out. But they can write text, make music, and make digital art that has made news and inspired people to experiment independently. As a result, a more comprehensive range of stakeholders are grappling with the effects of generative AI on business and society with little context.

It is anticipated that GenAI will have a significant positive impact in four key areas: software engineering, customer operations, marketing and sales, and research and development (R&D).

Marketing and sales productivity could be increased by 5 to 15 percent and 3 to 5 percent, respectively, by GenAI-generated personalized and intelligent content. GenAI is anticipated to increase software engineering productivity by 20 to 45 percent by accelerating system design, code correction, and creation. GenAI can improve methods in research and development, resulting in lower production and transportation costs. GenAI can unleash peoples creative potential and revolutionize industries by acting as a catalyst for new technologies.

The economic potential of GenAI continues to inspire professionals from all sectors as we move forward. The annual injection of trillions of dollars into the global economy is anticipated to alter industries and create new occupations and activities. The global economy is on the verge of a dynamic new era due to the emergence of GenAI, which will present opportunities that will have a long-lasting impact on our planet.

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Best Tech Documentaries That Must to Watch in 2023 – Startup.info

June 26, 2023 | Author: admin

The world of technology is a constant source of innovation, transformation, and intrigue. It shapes our lives in ways we couldnt have imagined just a few decades ago.

If youre a tech enthusiast or simply curious about the inner workings of this ever-evolving field, youre in for a treat. Hulu, the popular streaming platform, offers a treasure trove of tech documentaries that will captivate your mind and broaden your horizons, even if you are living in a restricted country like South Africa! Oh, if youre a South African citizen and wondering how you can stream Hulu in South Africa, then the simple answer is a VPN! Best way to unblock the limitations.

In this article, well take you on a journey through the 12 best tech documentaries of all time available on Hulu:

Release Date: September 9, 2020

The Social Dilemma unravels the dark side of social media and its impact on society. Through interviews with industry insiders, this thought-provoking documentary examines the algorithms, data privacy concerns, and addictive nature of social platforms. Brace yourself for eye-opening insights into the influence of technology on our behavior and the consequences of our digital lives.

Release Date: June 15, 2011

Jiro Dreams of Sushi is a mesmerizing documentary that explores the artistry and dedication of sushi master Jiro Ono. This film goes beyond the culinary realm, offering a profound exploration of craftsmanship, perfectionism, and the pursuit of excellence. Prepare to be inspired by Jiros relentless pursuit of mastery and unwavering commitment to his craft.

Release Date: September 4, 2015

Steve Jobs: The Man in the Machine provides an intimate look into the life and legacy of the iconic Apple co-founder. This documentary delves into the enigmatic persona of Steve Jobs, exploring his visionary leadership, controversial practices, and the profound impact he had on the technology industry. Gain an in-depth understanding of the man behind Apples rise to success.

Release Date: June 27, 2014

The Internets Own Boy portrays the story of Aaron Swartz, a brilliant computer programmer and activist. This powerful documentary sheds light on Swartzs contributions to internet technology, his advocacy for open access to information, and the legal battle he faced. Discover the tragic tale of a young prodigy whose life and work continue to inspire the fight for online freedom.

Release Date: January 23, 2016

In Lo and Behold, legendary filmmaker Werner Herzog explores the interconnectedness of our modern world. The documentary examines the internets past, present, and potential future through captivating interviews. Prepare to be fascinated by Herzogs unique perspective on technology and its profound impact on human civilization.

Release Date: February 22, 2017

AlphaGo takes us into the world of artificial intelligence and its ultimate challenge: defeating a world champion Go player. This gripping documentary follows the development of the AI program and its battle against the grandmaster. Witness the intersection of human ingenuity and machine learning as AlphaGo pushes the boundaries of what is possible in artificial intelligence.

Release Date: September 26, 2014

Print the Legend provides an inside look into the world of 3D printing, one of the most transformative technologies of our time. This documentary explores the pioneers and innovators in the industry, revealing their struggles, successes, and the disruptive potential of 3D printing. Get ready to witness the future of manufacturing and its impact on various sectors.

Release Date: March 30, 2021

The Codebreaker sheds light on the remarkable life and achievements of groundbreaking mathematician and cryptanalyst Elizebeth Smith Friedman. This documentary explores her crucial role in breaking codes during World War II and her contributions to the field of cryptology. Prepare to be inspired by the story of a brilliant woman who played a pivotal role in shaping the world of codebreaking.

Release Date: July 24, 2019

The Great Hack delves into data privacy, exploring the Cambridge Analytica scandal and its implications for democracy. This documentary exposes the manipulation of personal data and its role in political campaigns. Discover the power and potential dangers of data mining and its impact on society and elections.

Release Date: October 24, 2014

Citizenfour provides a riveting look into the revelations of Edward Snowden, the former NSA contractor turned whistleblower. This documentary takes you behind the scenes as Snowden discloses classified information on mass surveillance programs. Experience the tension and ethical dilemmas surrounding privacy, security, and government surveillance.

Release Date: September 10, 2018

Evelyn is a poignant documentary exploring technologys effects on mental health and human connection. Through the lens of a familys journey, this film examines grief, healing, and the impact of digital devices on our lives. Prepare for an emotional and reflective exploration of the delicate balance between technology and human well-being.

Release Date: March 1, 2019

Apollo 11 takes you on a breathtaking journey back to one of humanitys greatest achievementsthe first moon landing. This documentary uses stunning archival footage and audio recordings to immerse you in the historic Apollo 11 mission. Experience the awe-inspiring moments that defined a generation and witness the technological marvels that made the lunar landing possible.

These 12 tech documentaries on Hulu offer an engaging and enlightening exploration of the world of technology. From the ethical implications of social media to the remarkable stories of visionary leaders and groundbreaking innovations, these films provide a unique perspective on the impact of technology on our lives.

So, grab your remote, prepare to be amazed, and embark on a captivating journey through the best tech documentaries ever. With Hulu as your streaming companion, youll gain a deeper understanding of the fascinating world of technology and its profound influence on our society.

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Best Tech Documentaries That Must to Watch in 2023 - Startup.info

OpenAI of Sam Altman Scores Most Visible In TIME100 Most … – Cryptopolitan

June 26, 2023 | Author: admin

Description

TIME magazine recently unveiled its highly anticipated 2023 TIME100 Most Influential Companies list, showcasing businesses and leaders that are shaping the future. Among the diverse group of companies, we have top AI companies performing well in their distinctive artificial intelligence (AI) niches.TIME Magazine has beenone of the most authoritative and informative guides to what is happening in politics, business, health, science and entertainment, written without any editorial slant. Time has one of the worlds largest circulations for a weekly news magazine.

Some of the listsincluding Best Inventions and TIME 100 Companieshave a paid application process through which companies may submit their products and organizations for editorial consideration. The proposed magazine was initially called Facts, wanting to distinguish it from opinion. They changed the name to Time and used the slogan Take Time Its Brief.

To createTIME100 Companies, our editors, led by Emma Barker, seek nominations from across sectors, and poll our global network of contributors and correspondents, as well as outside experts. Then we evaluate each on key factors, including impact, innovation, ambition, and success. The result is a diverse group of businesses helping chart an essential path forward.

You may read the whole vetting process here. Jacobs finds that the most visible among them isOpenAI and its CEO Sam Altman. He further explains that their ChatGPT program has rocketed in popularity, hitting 100 million active users in two months. (It took Instagram 2 years.) TIMEs former editor-in-chiefEdward Felsenthalvisited Altman and his colleagues in San Francisco in May. Here are the top 6 AI companies included in the list for your information and evaluation.

OpenAI, co-founded by Elon Musk and Sam Altman, is an esteemed AI research organization with a focus on the development of artificial general intelligence (AGI) for the betterment of humanity. The company is widely recognized for its cutting-edge language models, such as GPT-3, which are instrumental in various domains, including natural language understanding, translation, and content generation.

OpenAI, based in the United States, has garnered considerable recognition for its notable contributions to the field of AI research and its extensive collaborations with leading technology companies. Renowned for its cutting-edge advancements and breakthroughs in artificial intelligence, OpenAI has positioned itself as a prominent player in shaping the future of AI technology. Its impressive market performance underscores the companys influential role in driving innovation and fostering collaborations within the AI community.

Nvidia is a leading company renowned for its expertise in graphics processing units (GPUs) and AI hardware solutions, making significant contributions to the advancement of AI computing. Their high-performance GPUs are extensively utilized in various AI applications, notably in deep learning and neural network training. The versatility of Nvidias GPUs extends to industries like autonomous vehicles, healthcare, and scientific research, where they play a pivotal role in accelerating AI-driven innovations.

Nvidia, a prominent United States-based company, has achieved remarkable growth and is widely recognized as a key player in the AI hardware market. With its strong presence in the gaming industry and a focus on accelerating AI computing, Nvidia has solidified its position as a leading provider of graphics processing units (GPUs) and AI hardware solutions. Its impressive market performance further establishes Nvidia as a significant contributor to the advancement of AI technologies.

DeepMind, a subsidiary of Alphabet Inc. headquartered in the United Kingdom, is an esteemed AI research lab at the forefront of developing general-purpose AI systems. Known for its groundbreaking achievements, including the triumph of AlphaGo against world champion Go players, DeepMind continues to push the boundaries of AI innovation. The companys diverse range of applications spans across vital domains such as healthcare, robotics, and climate change, showcasing its commitment to leveraging AI for transformative advancements.

DeepMind has established itself as a dominant force in the AI industry, driven by its pioneering research and groundbreaking technological advancements. Renowned for its cutting-edge innovations, DeepMind has emerged as a key player in the field, attracting a wide range of collaborations and investments from diverse sectors. Its exceptional market performance reflects the companys influential role in pushing the boundaries of AI capabilities and forging strategic partnerships to accelerate the adoption of AI technologies across industries.

Based in New York, Hugging Face is a leading expert in natural language processing (NLP) and conversational AI. Renowned for its expertise, the company has developed the widely acclaimed Hugging Face Transformers library, which provides developers and researchers with access to pre-trained models for diverse NLP tasks. With their tools gaining widespread adoption, Hugging Face continues to drive innovation in the field of NLP, empowering professionals to unlock the potential of conversational AI.

Hugging Face has achieved remarkable market performance with its user-friendly Natural Language Processing (NLP) solutions. The companys innovative approach has garnered widespread adoption within the AI community, positioning Hugging Face as a prominent and influential player in the field.

Headquartered in London, United Kingdom, Metaphysic is a leading AI company specializing in computer vision and intelligent systems. With a strong focus on innovation, the company develops cutting-edge technologies for object recognition, video analysis, and autonomous driving. Metaphysics advanced products have gained recognition and are widely adopted across industries, ranging from retail to transportation, where they enable groundbreaking advancements and transformative solutions.

Metaphysic has exhibited exceptional market performance through its expertise in computer vision. The companys outstanding capabilities in this field have earned it recognition and strategic partnerships, establishing Metaphysic as a prominent player within the AI industry.

Based in New York, Runway is an AI company dedicated to democratizing AI tools and making them accessible to a wide range of users. Their platform simplifies the utilization of complex AI models, allowing individuals to create AI-powered applications even without extensive coding expertise. Runways user-friendly approach has garnered significant attention among artists, designers, and creative professionals, enabling them to seamlessly integrate AI technologies into their work and unlock new possibilities for innovation and expression. With a strong market performance in the United States, Runway continues to empower individuals across various industries to harness the potential of AI.

The top 10 AI companies on TIMEs 2023 Most Influential Companies list represent a diverse group of organizations driving innovation and shaping the future of AI technology. These companies, including OpenAI, Nvidia, Google DeepMind, Hugging Face, Metaphysic, and Runway, have made significant contributions to AI research and development, spanning various domains such as language models, AI hardware, general-purpose AI systems, NLP, computer vision, and democratizing AI tools. Their market performances reflect their influential roles in advancing AI capabilities and fostering collaborations across industries.

Disclaimer. The information provided is not trading advice. Cryptopolitan.comholds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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Red-Hot Ethereum-Based Altcoin Primed To Do Really Well Going Forward, Says Top Crypto Strategist – The Daily Hodl

June 23, 2023 | Author: admin

A widely followed crypto trader believes that one strong-performing Ethereum (ETH)-based altcoin is about to have a huge breakout.

Pseudonymous crypto analyst Bluntz tells his 223,000 Twitter followers that the price pattern of indexing protocol The Graph (GRT) indicates the potential of a 150% increase from its current value.

According to the trader, GRT broke out of an ascending triangle and also completed an Elliot Wave Theory three-wave correction pattern labeled A, B, and C.

So many good setups out there that Im liking, nice ascending triangle break out GRT 4-hour, plus huge abc looks complete on weekly timeframe as well, potential for this to do really well.

Looking at his chart, the trader predicts The Graph will soon head to at least the $0.25 price level.

The Graph has soared in price since the start of the year, trading for around $0.05 in December 2022. At time of writing, GRT is worth $0.10, down 1.9% during the last 24 hours.

Also on the traders radar is the leading smart contract platform Ethereum.

According to Bluntz,ETH has broken out of a descending triangle and hepredicts rally to the $2,400 level by July. He also notes that ETH is picking up strength against Bitcoin (BTC) on the ETH/BTC chart.

ETH/BTC finally swept its major lows overnight which coincided with a bull flag break on daily USD pair. Time to get some ETH exposure here in my opinion, targeting new highs. Havent been this excited about crypto in months.

Ethereum is worth $1,878 at time of writing, down 2% during the last 24 hours.

Lastly, Bluntz highlights how Bitcoins latest rally this week has erased its two-month-long move to the downside.

Its times like these we get reminded why crypto is the best asset class to trade, two months of downside BTC price action reclaimed in a single weekly candle.

Bitcoin is trading for $30,022 at time of writing, down 0.4% in the past 24 hours.

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Red-Hot Ethereum-Based Altcoin Primed To Do Really Well Going Forward, Says Top Crypto Strategist - The Daily Hodl

Bitcoin dominance hits two-year high at 51%, jeopardizing altcoin gains – FXStreet

June 23, 2023 | Author: admin

Bitcoin price has increased 74% in the last six months, and recent developments suggest more gains are on the way. Specifically, the BTC dominance shows a bullish outlook while the short-term picture remains optimistic.

Also read:WisdomTree joins traditional finance's BTC race for Bitcoin ETF approval

Bitcoin dominance is the market capitalization or percentage of BTC as compared to the total market capitalization of the cryptocurrency industry. A spike in this index suggests that more investors are willing to invest in BTC as opposed to altcoins like Ethereum (ETH) or Ripple (XRP), among others.

As seen in the chart below, Bitcoin dominance has been on an uptrend since November 2022 and recently shattered through the 50% level, retesting two-year highs. These levels were last seen in April 2021, marking a shift in narrative among investors.

Bitcoin Dominance 1-week chart

The increase in Bitcoin dominance suggests that the interest has moved from risky altcoins to BTC, which is perceived as relatively safer. More often than not, this move is seen during the start of a new cycle or a bull run.

Considering the uncertainty over global macroeconomic conditions and cryptos regulatory landscape in the US, it is likely that long-term investors are buying the dip.

Also read: Recent Bitcoin price crash triggers whales to scoop BTC at discount

A spike in Bitcoin dominance could mean two things: fresh capital is flowing into BTC or the unrealized profits from altcoins are moving back to Bitcoin. Therefore, an extrapolation from these conditions could mean that investors are selling their altcoins and moving capital back to Bitcoin.

These conditions could propel BTC higher while Ethereum (ETH), Ripple (XRP), Litecoin (LTC) and other altcoins could move sideways or slide lower.

While Bitcoin dominance has risen 18% since February, altcoin dominance has shed nearly 27%. This negative correlation is likely to bode ill for altcoins in the near future.

Bitcoin Dominance vs. others chart

Bitcoin only buy-and-hold investment strategy outperforms altcoins over the long term Analysis shows – Cointelegraph

June 23, 2023 | Author: admin

Altcoins offer diverse, innovative features, promising technological advancements and potentially lucrative investment opportunities.

Various altcoins can post handsome gains that surpass those of Bitcoin (BTC), particularly during times of increased popularity, known as altcoin seasons. However, analysis from K33 Research shows that over the long term, a Bitcoin-only investment strategy has been more profitable than an altcoin portfolio.

Bitcoin has had three consecutive bull and bear market cyclessince2013, with the latest coming in 2021. In each cycle, Bitcoins price rose parabolically in a concise span, usually a few months, after surpassing the peak of its previous cycle.

In 2013, BTC peaked at around $1,175, followed by a downtrend for two years. At the time, the altcoin market was in its nascent stage. The fiat on-ramps to Bitcoin were limited, and exchanges on which investors could convert to altcoins were rare.

However, by the end of 2015, a number of altcoins had arrived, including thelaunch of Ethereumand its native Ether (ETH)coin. A few exchanges had also been formed that supported the conversion of Bitcoin to other cryptocurrencies, paving the way for an altcoin market.

It was not until April 2017, when Bitcoins price broke above its 2013 top, that a bullish run occurred among altcoins. During the second half of 2017, the initial coin offering boom on Ethereum and retail investment hype around Ripples XRP (XRP) led to an altcoin season, with many tokens outperforming Bitcoin until January 2018.

Nevertheless, in the aftermath of the bull market, altcoins generally suffered greater losses than Bitcoin, suggesting the surge resulted from users buying them during Bitcoin bull markets with the hope of capturing higher returns.

The chart below shows that Bitcoin found support around $6,500 during the bear market of 2018 to 2019 after recovering from lows of $3,250 in late 2018. However, the total market capitalization of altcoins continued to hover around its lows for most of the duration of the bear market, only reversing the trend after Bitcoin broke above its previous peak of $20,000.

K33 Research calculated the performance of investing $1 each in 1,009 altcoins since 2015 as they entered the top 100 by market capitalization on CoinMarketCap versus the same amount invested in Bitcoin simultaneously.

The altcoin portfolio would be worth approximately $7,000 today, compared with $50,000 from the Bitcoin-only strategy.

Altcoins are usually narrative-driven, and many narratives die with the evolution of the market. For instance, privacy-based tokens were quite popular in 2017, but many have dropped out of the top 100 due to regulatory scrutiny.

Similarly, many of the decentralized finance tokensthat populated the market in 2020 such as Compounds COMP (COMP) and THORChain's RUNE (RUNE) have dropped out of the top cryptocurrencies by market cap due to declining DeFi usage and demand for holding non-yielding governance tokens.

Altcoins are also subject to volatility and unpredictable shifts, with regulatory uncertainty hovering over most. They may experience their individual altcoin seasons at different times, and the duration can vary significantly, requiring investors to have perfect timing to churn a profit.

K33s analysts found that since 2015, over two-thirds of the 1,009 altcoin projects that managed to creep into the top 100 have become inactive. Only 9.11% of these altcoins yielded positive returns, with only around 1.5% outpacing Bitcoins 50x returns.

The report adds that altcoin investments were only profitable two times since 2015: in 2017, when Etherand XRP were outperforming, and in 2021, during the hype surrounding Dogecoin (DOGE) and Shiba Inu (SHIB).

Notably, during the second half of 2021, when Bitcoin made new all-time highs at $69,000, altcoins posted relatively dull gains, with the exception of ETH.

Besides a breakout in Bitcoins all-time high, breakouts from crucial levels in Bitcoins dominance levels are another potent indicator that helps identify long-term trend reversals in altcoins.

Altcoin seasons during the previous two cycles were marked by Bitcoins dominance breaking below 60%. After the bullish trend reversal, the bottom in Bitcoins dominance also coincided with the top in the total market capitalization of altcoins.

If history repeats itself, Bitcoins dominance could rise further while altcoin performance remains subdued.

A breakout in Bitcoins dominance above the 50% level on June 19 thanks to BlackRock filing for a Bitcoin exchange-traded fund has opened room for further altcoin losses, as it marked a crucial historical resistance point.

In the latter half of the 20082022 bear market, Bitcoins dominance increased to over 70%. On the other hand, it performed relatively better, holding its price above the2018 lows of around $3,250. K33 Research also shows that this period marked significantly poor altcoin performances, making new lows toward the end.

Related:Crypto industry destined to be BTC-focused due to regulators: Michael Saylor

The K33 Research analysts added that while altcoin portfolios have shown the potential for greater profits than Bitcoin, they require timing the market or picking the altcoin winners. Anders Helseth, vice president of research at K33 Research, told Cointelegraph:

Given that Bitcoin has outperformed altcoins over the long run,dollar-cost averaging (DCAing) into Bitcoin can be an effective investment strategy for crypto investors.

To DCA means to regularly invest a fixed amount of money into a particular asset over a specific period, regardless of the investments price, to average the principal amount and remove the need to time the markets. Helseth told Cointelegraph that DCAing is a sensible, quite safe, simple crypto investment strategy.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the authors alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

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Bitcoin only buy-and-hold investment strategy outperforms altcoins over the long term Analysis shows - Cointelegraph

Will Shiba Inu and Dogecoin Propell an Altcoin Season? – Watcher Guru

June 23, 2023 | Author: admin

The crypto markets are breathing a sigh of relief as Bitcoin (BTC) inches closer to $30k once again. BTC has seen gains of up to 7.9% in the last 24 hours and 11.3% on the weekly charts. Popular memecoins, Shiba Inu (SHIB) and Dogecoin (DOGE), however, have only registered gains of 2.2% and 3.4%, respectively, in the last 24 hours.

Shiba Inu (SHIB) and Dogecoin (DOGE) aside, other altcoins are also seeing a healthy rally. Ethereum (ETH), the second largest crypto by market cap, is up by 5.2% in 24 hours. Cardano (ADA), on the other hand, is up by 7% in 24 hours, while Solana (SOL) is up by 5.6% in the same time frame. Polygon (MATIC) has also made a notable gain of 6.4% in the daily charts.

Comparing the altcoins with the memecoins, we can see that SHIB and DOGE have gained very little compared to the top altcoins. The memecoin season started with the launch of Pepe (PEPE), which then went on to rule the charts for a brief period of time. Other memecoins such as Shiba Inu (SHIB) and Dogecoin (DOGE) also benefitted from the memecoin rally phase. However, the period was short-lived.

According to Blockchaincenter.net, we are still in a Bitcoin (BTC) season. As per the platforms data, we were last in an altcoin season from early August to mid-September last year. The site notes that we entered Bitcoin (BTC) season in early April, and are still in the same territory.

Additionally, the current market sentiment is most likely driven by BlackRocks application for a spot Bitcoin (BTC) ETF (exchange-traded fund). Therefore, the original crypto still holds the reins to the current market rally.

At press time, Bitcoin (BTC) was trading at $28,892.48, down by 0.1% in the last hour. On the other hand, Dogecoin (DOGE) was trading at $0.063961, down by 0.1% in the last hour, and Shiba Inu (SHIB) was trading at $0.00000731, down by 0.2% in the same time frame.

Analyst Updates Outlook on Exploding Bitcoin Price, Says Altcoin Markets Facing a Depression – The Daily Hodl

June 23, 2023 | Author: admin

A widely followed crypto analyst is updating his outlook on Bitcoin (BTC) and the altcoin markets after a huge week of gains for the king crypto.

Crypto trader Michal van de Poppe tells his 658,100 Twitter followers that with Bitcoin dominance (BTC.D) increasing rapidly, it will likely reach a consolidation point, soon, which is good for altcoins.

Bitcoin dominance approaching next point of resistance, while Bitcoin reaches the next point of resistance as well.

Probably Bitcoin will start to consolidate, so Altcoins have some period of relief approaching and can pick up pace.

BTC.D is a measure of the percentage of the total cryptocurrency market capitalization that is made up of Bitcoin.

BTC is worth $29,757 at time of writing, up 19% in the last week.

After such a week of gains, Van de PoppeexpectsBTC to reach a consolidation point sometime soon.

Still the thesis for Bitcoin.

Im expecting well consolidate a little bit (whether or not sweeping the high again).

In that case, the optimal entry is at $28,500.

Based on the traders interpretations of BTCs 200-week moving average (MA) and exponential moving averages (EMA), heexpects BTC to overall continue toward $40,000.

Most likely, this is the first real impulse in this cycle on Bitcoin.

Through that, the 200-Week MA and EMA are holding as support and a big bounce occurred + institutional interest.

Im expecting continuation towards $38,000-$42,000.

Finally, looking at the altcoin markets, the crypto analystsayswe are at the depression stage of the altcoin cycle.

Were here.

The depression stage on Altcoins.

Some are already picking up pace, rest still needs to follow. Volume slowly picking up, people still expecting more pain to come.

From depression to disbelief. Thats what well see next on Crypto.

Generated Image: Midjourney

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Analyst Updates Outlook on Exploding Bitcoin Price, Says Altcoin Markets Facing a Depression - The Daily Hodl

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