Yes it is.
Disclaimer: Nothing contained in this article should be considered as investment or trading advice.
Briefly, we are in the last phase of this 4-year crypto cycle. This is the Insane In The Brain phase, where price goes up, a lot, interspersed with brutal selloffs. This phase is just about to start. Hence why it’s a good time to write this short article.
Simply, altcoins eventually follow Bitcoin, and Bitcoin is pre-programmed for scarcity. See my original, fairly stunning Bitcoin prediction: One Trade to Rule Them All, which has not yet fully played out. So there’s maths and history on our side.
Sounds like being back at school. What about teachers? The crucial thing in crypto is figuring out who to trust. My trading mentor spends 99%+ of his time trying to teach blockheads like yours truly to think in probabilities and not try to predict, constantly repeating that a real technical analyst doesn’t pretend to know what will happen next. Nevertheless, he very occasionally gives predictions, and as far as I can tell he’s always been right. In general, taking advice from crypto Twitter is a very very bad idea. But in this case I make an exception:
It’s clear to me that Bitcoin has more or less finished dicking around (shaking out as many over-leveraged small traders as possible) and is ready for the next push to all-time highs. Altcoins will follow, in fits and starts.
The crazy parabolic run can only get going when new people get turned on to crypto. Unfortunately, most of them will get rekt when it tops out. Don’t forget to realise profits, kids.
So, we know that banks and even nation states are getting into Bitcoin. But when will the wider public? Could be any day now:
What to do?
See this article for advice on how to play – and not to play – the remainder of the bull market: Is now a good time to buy crypto? Sept 2021 edition. For a caveat based on a possible stock (and everything) market correction, see this article.
For my current recommendations on exchanges to use, see the Who To Trust page.
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