2 Despite market drama we're actually going through rather "normal" BTC cycle. BTC now is looking a lot like 2013. If we believe in the lengthening cycle theory then BTC is highly unlikely to have topped in April, more likely is late 2021, early 2022
3 Last two bull runs saw sell offs in July following massive runs, both also saw sell offs in September, exactly as we are seeing in 2021. In both previous runs #bitcoin went on for a parabolic yearly finish. history doesn't repeat, but it sure does rhyme.
4 On chain data remains very bullish for #bitcoin. Peak BTC supply was likely in 2020, it is only down from here. Increasing scarcity of hard capped asset with rising demand = moon
5 The biggest upcoming price catalyst is going to be getting a #bitcoin ETF approved. There is no guarantee this will happen, but I expect a very favorable reaction from the market, even if it is garbage futures backed ETFs. Rumors saying October finance.yahoo.com/news/bitcoin-f…
Other potentially large catalysts include:
1 Ethereum Merge
2 Major company buying BTC and reigniting corporate treasury FOMO
3 Regulatory clarity in the USA
4 Ripple wins lawsuit
Possible reasons that will invalidate this
- No BTC ETF
- SEC crushing exchanges and stablecoins
- Ever Grande contagion
- FED tapering drags down stock markets, big money is in crypto now, and they are not afraid to sell for cash
Final thoughts. Whether I am right or wrong, I maintain the firm and simple belief that crypto will be the biggest wealth creator of the 2020's.
PS: Make sure you have an exit plan. Don't give back all of your gains to the market.
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I remain very bullish on the Polka $dot $ksm ecosystem.
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So let's talk about parachains.
Kusama has successfully had their first parachain auctions and are now on round two of parachain auctions.
The first 5 parachains resulted in 10% of the supply getting bonded! WOWSERS!!!
The star of round one was Moon River. Even if you had bought the top on KSM you would be up 10X on $movr, most who backed them are up 20 to 100X or more. And the real kicker with parachain auctions.... you get your KSM back at the end! This is solid proof Dotsama is a money maker
Then fund your wallet with a little bit off $sol, for gas, and some usdc from your exchange account like FTX, if your exchange doesn’t allow withdrawals of usdc to solana directly you can buy sol and swap on @RaydiumProtocol
There are lots of great platforms to use on Solana. Since we mentioned @RaydiumProtocol start there and make a swap using that decentralised exchange. Swap some sol for usdc
By the way, keep this all low stress just put in like 100 bucks to play with to your phantom wallet.
Oh and I should note that Solana also has a token burning mechanism which burns a percent of the transaction fees. This is good for long term tokenomics.
This chart from Ben Cowen also shows this concept. Either this was shortest lowest ROI cycle ever, or we are heading for our double bubble with a cycle end in early 2022.
Trading your fiat for BTC is exchanging bad money for good. Bitcoin is Gold 2.0 and has essentially become the reserve asset of the crypto markets.
I personally use it as a gold like asset in my crypto portfolio.
DCA into Bitcoin is a great way to get exposure to BTC. Dollars will 100% fall in value. Your BTC will continue to rise versus fiat over time. It is an inflation hedge, store of value, and still in price discovery