Guess whoΒ΄s back ...it ainΒ΄t Houdini!
Because my crypto bags did not disappear!
I must admit some defeat over these last couple of months. I at least messed up buying one low cap called GTT and saw a 90+% drop in my investment.
But I think we all got a little REKT since March.
And yes, I was taking profits.
And yes, I used those profits to grow my bags.
But as I said last time I was a bit too eager to buy back. So instead of waiting and taking a 50% profit I settled for 25%. That way I spent all my dry powder by the end of June and then we had that nice little crash to 55K.
And I warned yΒ΄all what would happen next.
I told you the best signal that you ever get is BitcoinBaby putting more fiat up, on the 4th of July I bought the dip. Well, Actually I sent the money on the 4th and bought it on the 5th.
And in the three weeks that followed.... we went from 55K to 68K
That is 19% up and the funny thing is, this is not the first time this has happened. I tell you when I feel comfortable putting even more money on the table we are probably near a local bottom.
And for those who think I am full of it.
Last time I put in mo money was September 30, 2023, and look what happened.
It has been almost a year but look at that trend, I bought in Sep and the next real dip was.... July if one would ask me.
Of course, I bought the mini dips with what I got selling on the way up. But all my funds were in crypto by Nov 2023 and they were again by July 2024.
The thing is, crypto is no sprint.
I said it before and I say it again
The only kind of patience I like is Patience by Guns & Roses. Other than that I have none. And I am in the crypto-verse each and every day. I have been there each day for over 4 years now. and it helps.
It helps get me off the streets, and it helps to see the bigger picture.
Things do look bright, not right now but over the next year I see so much that indicates this Bull is not over.
All the overhang from Germany is gone with hardly any impact, the MT GOX cloud is gone, and FTX paying in dollars of which a part will go back into crypto.
Talking about adoption, Trump might be an orange man but so Bitcoin is orange as well. And I did not expect a president to speak at a Bitcoin Conference in 2024.
The US canΒ΄t keep these interest rates in place....
Global liquidity is increasing...
Summer is almost gone..
BTC is still above 60K.
ETH Outflows will not last just like BTC outflows in the first couple of ETF days.
And we are still above 60k
60K peeps, do you know how many days Bitcoin spent above 60K in 2021?
37 days it was the top of the last Bull Market.
Now 2024 is a halving year, and that should be pre-bull sort-of. How many days has Bitcoin been above 60K in 2024?
Over 125 days!
That is most of the year!
With all the SEC shenanigans.
Billions of MT GOX and Germany selling pressure.
No rate cuts.
And still residing above 60K which was the absolute top last time.
Now I am no expert, but I do see the big picture loud and clear.
My Next Move
The next thing I will do is the same thing I did from November 2023 till the end of Feb 2024. I will do absolutely nothing.
That is a lie, but I do not plan to be actively trading buying, or selling.
Of course, if we get a drop below 54K I will sacrifice a bit more fiat for the cause. And yes, if one of my coins does a 30% in a single day I will sell some and buy back at a 15% discount over the course of the next few days.
But other than that I focus on the Horizon. First stop November!
I foresee some interesting things with the Orange man, and probably a rate cut against his will.
That would nicely add up to a post-holiday pump in Q4 and then the Xmas dip, before a roaring Feb and March with lots of rate cuts and other good stuff. I will do the sell-in-April thing this year as waiting till May has proven to be the wrong thing to do year after year.
Bikini Bottom Line
This summer has been melting my March profits.
In March with BTC on 64K, I had 4000 dollars more in my portfolio (not counting what I added earlier this month) than today with BTC holding on to 66K. This comes down to a 16% overall loss during what is considered the worst period of the year.
Do I think itΒ΄s over, yes if I look at what is going on right now and the previous years we should bottom out in July. See some ups and downs till mid Sep and then go PARABO.
That is where I start selling, selling all the way on the way up into April.
Do I think the top will be in April 2025?
I doubt it, but there is too much Blur in my crystal ball to say that for sure.
What I do know is that we have a very high chance of seeing yet another June Dip in 2025 and that is where I probably buy back in ....just a bit.
Thank goodness you made it till the end Pees, Love and I am out of here!
(All Images by Meme, MYI & AI)
Posted Using InLeo Alpha
