Well well well it's nice to see some VERY positive action on Bitcoin, and I mean it's definitely correlated with Trump's victory, and the Republican full-sweep of the house and representatives more generally...
While I didn't expected Bitcoin to smash through $80K in such dramatic style, this is only because I'm tend to ere on the side of caution when it comes to crypto investments.
But I can say I'd hoped this to happen, I mean this is one of the reasons one holds crypto after all: For precisely this kind of rapid pump factor, which was always a possibility when policy headwinds turned in crypto's favour, which seems to be the case now.
I mean even The Financial Times is lookiing to the upside pointing to various pro-crypto factors mainly linked to TWO factors:
- Many of Trump's inner circle have a positive attitude towards crypto and are personally involved in various crypto projects, including his sons.
- On the back of that there is a good chance of some positive regulation coming early in Trunmp's administration, including possible staff changes at the SEC.
So I'm thinking it's not necessarily Trump who is pro-crypto, it's rather many of those around him, which kind of makes sense, given that him and his enclave have a strong libertarian bent, so policy is going to empower crypto rather than sink it.
And there's also news that Charles Hoskinson will be helping out with shaping policy, which has led to a huge ADA pump, which bodes well as this means that alts aren't going to get left behind.
So fingers crossed that there will be plenty of institutional and individual money coming into crypto over the next several years.
Future Price Potential....
TBH I don't know!
I'm fully expecting BTC to blast through $100K, and from there who knows....? My brain thing is thinking $125K but that's just because it's a figure I've seen mooted and bounced about and it's also a nice round figure, one quarter of half a million!
As to the timescale, once again I don't know, the way things are going this good happen within days rather than months, everyone seems to be going nuts!
And the alts....
Two words... COME ON! This is where I'm hoping to take some profits, rather than BTC.
Stick to plan (more or less!)
I do have targets for selling some BTC on the way up. Bits and pieces at $80K - $125K in $5K tranches, more or less, and putting some by to buy back the dips, but mostly selling.
I'm thinking stacking in HBDs for a few weeks/ months or years and then buying back lower occasionally is a good strategy.
But one thing I MUST DO is take something out, after all these many years in crypto!
Everyone's got their targets and strategies, mine is cautious, but when you've been buying BTC occasionally when it's $5K, $20K, $40K and even $60K, then selling some of it at $80K and above is entirely reasonable!!!
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