Over the next 6 months, you will be given the chance to lock in a new financial level, permanently.
Don’t fumble reaching for more. Secure the level. Then expand.
Bitcoin $2.1T market cap for an asset that has captured (and expanding) so much global admiration and mindshare remains significantly cheap, IMO.
It’s just more a question of time. Which means patience.
Most are better off just capturing this over time versus chasing in a field they’re disadvantaged in.
Bitcoin isn’t moving like it used to with the Nasdaq. It’s clearly showing some relative strength. Volatility has been pretty tame too, especially considering the panic we’ve seen in equities.
That said, the correlation still matters. It suggests we could be heading toward a setup where stocks find a bottom and Bitcoin front runs or greatly outperforms, but only once the 'risk off' weight is lifted. The real question is when and possibly how deep any selloff (in stocks) is.
Looking further out, I’m not locked into the idea that Bitcoin has to top this year, just because of the usual 4-year cycle timing. Tops in a cycle are a moving target, the lows are more predictable. We should stay open-minded about it.
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$BTC closed the week above the prior candle, leaving behind a likely Swing Low. Stocks should have bottomed, for now, too.
No real excuses left now for the bulls, the Cycle count is on their side. (Week 3).
Blows my mind to meet many people who are years in crypto, who hold little of their wealth in Bitcoin, if any.
Pretty much the only statement I can make is that if “crypto” has a future, Bitcoin will be a big winner. Can’t say that for any other crypto asset.