It’s just a sense right now to me, where I see that “even” with the huge news of Binance’s CZ stepping down and agreeing to a $4B dollar fine “just” drops Bitcoin price by about $1K…for ONE DAY.
Then the price goes back to usual, ranging in the $36-37K range.
More and more people are buying into cryptocurrencies, and big boys are pushing for Bitcoin ETFs such as Blackrock which signals a lot of confidence in Bitcoin as a whole. As institutional investors start to come in, crypto and bitcoin will grow even more.
The most important thing is also cheap money, such as low low interest rates. Which trickles into every investment and spending habits anyway, but it’s significant when it comes to money inflow into stocks, properties and crypto.
Fascinating stuff.
Bitcoin next halving is coming in 2024, and historically, a rally happens almost immediately after for weeks or at most months before crashing. That being said, in the last couple of cycles, the profitability isnt as much as before, as the value of Bitcoin seems to come more ?normal or acceptable.
How does that impact you?
If you’d been HODLing over the bear and winter crypto, get ready to take profits. To take profits, you need to set rules in place, such as let it double then take 50% (which is 100% of your original) or triple then take 66% (which is 100% principal and 100% profits).
If you’re looking to enter, remember that crypto is an emerging market with a lot of scams and volatility that is through the roof. Be careful and dont go FOMO. Dont go taking loans or selling your homes to buy crypto.
For me, I’m getting ready to take profits and more principal out in 2024 and 2025.
My game plan for crypto is rapid explosive growth which I will then put into slow and less speculative assets (and execute on my living trust finally), and perhaps DCA into crypto over long term with stable assets.