A lot of people don't realize this.
There was a lot of $GBTC held in companies that went bankrupt in 2021, those companies are finishing their bankruptcies and liquidating their GBTC positions, which is putting a lot of pressure on $BTC.
If even with all the $GBTC being liquidated the influx of money to the ETFs is above the sell pressure, imagine what will happen when the bankruptcies finally finish selling the last $GBTC!
Game time...
And the higher we go the more traditional investors will FOMO into the ETFs, which will make us go higher...
I'm not sure where we will end up this cycle, moon? Mars? UrAnus?
UrAnus sounds alright 👍 😝
It is not easy to visualize the demand but it certainly will play a role in that price discovery. I am no trader but accumulating sats is something I can do daily.
Indeed, I'm having a really hard time figuring out what $BTC is going to do, because the ETFs turned this cycle into complete hopium!
It's the first time we have a new ATH(brief but we got it) before the halving date... It's not normal.
I also stick to stacking sats, and some ETH too, long term it's the best strategy.
I stopped trading after setting alarms in the middle of the night and waking up to see what was happening... to stressful.
what’s ur $ETH price theory? Don’t you have other alts that you hold? I have $BNB but I am not sure about the long term health of that token. I do not want to lose the early advantage I have with other projects. Not sure how to navigate the future crypto projects that will turn out to be googles and amazons
Basically ETH is the:
Because of all of this, I see the supply lowering, while the demand increasing long term, which means, price goes up.
It has the first move advantage, and it hasn't stopped innovating, it has it's issues, but unlike many other projects, they realize the issues and try to improve them.
I mostly hold BTC and ETH, but I also have some $WOO and $BCB, and got some $ARB that I earned in an airdrop.
What you want is a coin going up against BTC, not against USDT, and a lot of alts don't go up against BTC 🤷♂️ thus why I don't have that many alts, it's safer to bet on BTC if the alts don't go up more than BTC.
I like your strategy. I never thought about comparing alts against BTC price. I will have to bookmark this reply to make sure I have my priorities right :)