@PeterSchiff@Rhythmtrader I am ever grateful for @PeterSchiff getting me into Bitcoin september 2017. I could not help myself, as he mentioned the wild price increases in every podcast ♥️
Who got you into crypto?
$BTC Monthly.
Have you ever seen a cleaner chart?
Cycles, Fundamentals, institutions, regulations, narratives, everything is aligned.
This time could be different, but hell you'd be 💯crazy to think or position like it is.
My recent thoughts on Bitcoin, MicroStrategy, and the crypto industry in the aftermath of the sweeping Trump/Vance victory on Nov 5: the drivers behind the Crypto Renaissance, a Digital Assets Framework, and the geopolitical logic of the Strategic #Bitcoin Reserve.
Best way to visualize $BTC on various Cycle time-frames.
Blue Arrows are the Weekly Cycle (26 week avg).
Red arrows are 60-day Cycle tops. Green arrow Cycle Lows.
Notice the Week 7 Weekly Cycle high in March and Left Translated Cycle (Consolidation). Sept marked new Weekly Cycle and now 60-day Cycle structure has shift to higher highs (uptrend).
When you put this in context of the 4 yr cycle position, it's in fine shape.
MicroStrategy has acquired 27,200 BTC for ~$2.03 billion at ~$74,463 per #bitcoin and has achieved BTC Yield of 7.3% QTD and 26.4% YTD. As of 11/10/2024, we hodl 279,420 $BTC acquired for ~$11.9 billion at ~$42,692 per bitcoin. $MSTR https://t.co/uCt8nNUVqd
#bitcoin doesn't care about all the narratives.
It's now starting Year 3 of the 4-Year Cycle, where almost all of the gains since inception have occurred.
Ignore the noise.
Day 63 of the #bitcoin Cycle, so should be looking for the bottom very soon here. No major selling volume as it retests this area for a 3rd time.
It become more of a question on what happens (for intermediate term) after a good bounce, around late Sept.
In past Cycles, #bitcoin did 30% drawdowns often and with ease. We all took it on the chin.
Feels different this cycle, I sense lot more uneasiness. And I believe it's because this is 2nd or 3rd cycle for most, and they're looking for a "set for life" cycle.
Over-exposure, over-confidence, unrealistic expectations, all can lead to being in a position that quickly becomes stressful and difficult to manage.
I for one firmly believe this Cycle will deliver. But I sure as hell wouldn't bet my ranch or health on it, as many do. Regardless of how much I had. Just not a way to invest.
On vacation trying to be offline.
Logged on this morning to see some real blood.
Not much to say here I guess, a once in a 7-10 yr event, hard to know where the immediate next move is in these types of markets.
But stocks should be toast until Mid Sept imo, with a good rally at some point in between now and then. Will just look like a deeper cycle pullback by the end of it.
Then we probably will need to see some solid macro data first and the fed response to see if this spills over into another weekly cycle (Sept - March) to become something deeper, like a cyclical bear market. Any sharp rally at some point not a bad idea to reduce equity exposure.
At least this is not a crypto specific event, but like all assets caught up in the liquidity phase. Lots of variables here, but I think bitcoin can act well once the immediate panic and cash need subsides. I’m sticking with my view this 4yr cycle still has upside exploration, but has headwinds to early Sept as previously discussed. At least we finally got a 30% decline (on washout volume) in a bull market, where most thought it was ‘impossible’ in the etf age. And Meh ‘halving’. Just sitting tight. Going back offline for the week.
Last summer's consolidation, visualized this summer.
Not saying it's going to repeat, but serves as a reminder of what's possible and the patience that might be needed.
gm. Happy Monday.
Coming back online once you've been off a good amount of time is always a great reminder of just how much energy can be wasted 'connected'.
My discussion with @LexFridman on #Bitcoin, Inflation, and the Future of Money has over 8.5 million views on YouTube and is my most popular interview to date.