Bitcoin hit $81,000 today, and after this strong rally since Donald Trump got elected, we’ll probably see a slight correction tomorrow as some investors take profits. Personally, I wouldn’t sell yet; it’s too soon, imo.
DOGE has been one of the top performers lately, and it's no surprise that whenever BTC breaks its previous ATH and holds, DOGE goes wild. I had a decent amount of DOGE at the start of the year but sold it for other coins when it dropped from around $0.22 to $0.08 this summer.
Part of me regrets that move, but I think I’ve managed to build a pretty diversified portfolio that’s going to do well. We’ll only know what the perfect picks for this cycle were when it’s all over, and we’re far from that point.
Back in 2017, BTC had eight weeks of strong rallying before pausing, with seven corrections of around 30%-40% on the way up. In 2020, after breaking its previous ATH, BTC rallied for four weeks before a significant correction. This cycle, though, is unique—2021’s ATHs were smashed before the halving even occurred.
We haven’t seen a proper altcoin season yet this cycle, but it’s coming in the next few months. I’m not here to predict the future, but I have a feeling, as in every cycle, we’ll soon see our portfolios doubling or tripling month to month.
If anyone’s wondering who’s going to buy in with the current "challenging global conditions," I’d ask, where’s the adversity? Trump’s election is good for crypto, the Ukraine war will end soon, and falling interest rates mean risk assets will thrive.
I don’t buy into the super-cycle theory, so I believe the bubble will eventually deflate, but until then, blessings are coming. It’s funny that despite BTC hitting $81,000, retail still isn’t interested.
I guess we need more mainstream propaganda to lure them in. And they will, buying the top as usual. When some of us start bragging about our portfolios, the media will boost crypto coverage, BTC will soar past $100,000, and retail investors will buy up all the overvalued coins that are trending.
Been there, done that. Personally, when I see retail flooding the market, I’m gradually making my exit. Being part of the masses? Not an option anymore. What about you?
Thanks for your attention,
Adrian