Strange turn of events this week. We got some fake news from Cointelegraph which sent us over the $27k range. Now we are in the $29K range looking at $30K potentially. I find this strange because usually when we get fake bullish news, the price retracts shortly afterward. However with this, we retraced from near $30K and now we seem to be going back up without a full retrace. I have the feeling that the spot ETF’s will be approved when nobody is expecting it to be approved. I don’t know when obviously but as I have been saying, I think it will come sooner than March of next year.
The danger here is not being in the market. I still have friends who are not heavily in this market and are still waiting for lower prices. This in my opinion is crazy due to all the catalysts that are clearly lined up. There is no “hindsight is 20 20” here. We can clearly see what is lined up with spot ETF’s, halving and now war time which will give the excuse for the Fed to pause in my opinion. I mean the US will have an interesting time raising rates considering the interest on its debt now surpasses military funding. Also not too long ago the US added $275 Billion in debt in ONE SINGLE DAY!
The extremes are guaranteed to continue. I got a lot of grief for telling people that we will experience more currency printing this year than any other time in history… And I have been spot on unfortunately. This is going to hurt a lot of people who are not educated on money. Inflation is so sneaky.
In the meantime many of our microcaps are doing exceptionally well. We have seen several all time highs this week and volumes have been rising as well for many. We have had several coins go from microcaps to midcaps. I expect many of these to become majors. If you hold a coin from a microcap to a major you have done very well for yourself. This is my goal for us. I would love to see this happen and I am confident we will see not just one but many of these grow huge during this coming bull market. RLB, INJ and GMX are some of those which I would be surprised not to see in the top 100 during the peak of the bull.
In the meantime, I am still researching more micro’s and keeping an eye on any development that could affect us.
Toby
Disclaimer: This article is for educational purposes only and does not constitute financial advice. Cryptocurrency investments carry risk; you should always do your own research before making any investment decisions.