You know I'm not a bull and have been bearish for a long time. Now I'm have not a jot of bull in my and I'm a bored bear.
I hold a goodly chunk of Ethereum and I will likely be bleeding it out. Crypto could on on a last leg because an imminent crash is only 50/50 and Bitcoin might flap around for weeks or months, but it can also dive tomorrow. The last leg is a possibility but its not a 5/1 horse with little chance of raising its head to rush through the field.
I'm not in a rush because Crypto has defocused for me and in a fog I prefer to move slowly.
Eth hit 2200 in a flash crash and looks to me like an early warning for what is to come for Bitcoin.
As far as I am concerned Michael Saylor is simple handedly cornering Bitcoin and if/when he runs out of cash it will go very south.
Lucky for him Trump is in power because under the old regime the Fed’s would be fitting him up.
However remember Trump will stomp anyone threatening the dollar, which means, Bitcoin and crypto has to be dollar denominated/driven, which it currently is. It also means it wont be allowed to be the microSTRATEGY (they dropped the micro) anti-dollar idea.
One bullish thing is Bitcoin hasn’t gone up in real terms since the last cycle. Inflation means in real terms the $100K is rough the same a the last peak. Some might say this shows weakness or a bull might say that is why this cycle is not over. For me my Ennui suggess Crypto at least for now is in nothingburger land.
OK if you are up to your eyeballs in crypto and have your kids tuition on the line you will be over engaged, but if that’s your tail of wow you need to derisk till you can sleep at night which ever direction Crypto is going.
I should be derisking myself but I’m holding the remnant as a hedge against being an idiot. Its not very disciplined but over the years I have learned that inertia can be a friend in investing.
…not that this is investing…