Market Update/ Trade Alert

It’s dump time for the alts. FTX is dumping their (In order of supply held by FTX) SOL, FTT, BTC, ETH, APT, DOGE, MATIC, TON and XRP on September 13th and could take a month to execute in totality. Many algo’s are looking at this and dumping everything else. This is a great flush down. After this there will be less overhanging uncertainty in the market. Keep in mind that this is the REMAINING crypto that FTX has. Once again, I am not concerned at all. Let them dump. My focus is on the long term. I am just glad many of us took our initial investments off most of our micro caps once they doubled. Today shows how important doing this is. Days like this are relaxing because of this.

My simple formula on micro caps is once they double, take your initial investment out. Because micro caps have such low liquidity, they tend to have a crazy amount of volatility. So when we take profits off a double, we have capital preservation.

Speaking of capital preservation, I bought some more ETH here at $1609. I will be dollar cost averaging as much as possible even more than normal. I am looking forward to a spot ETF for Ethereum which should come after a BTC ETF. The time to prepare for both are well before either of these events happen. NOT afterwards. It would be too late and the majority of people will chase after the price.

In the meantime, I would expect a bit of a breakdown in ETH here. Maybe to the $1400’s but I will be dollar cost averaging all the way down. I really don’t care about this short term noise. Many of you do so be prepared if we do break down from here (short term). Long term looks fantastic.

Try to relax and enjoy the beginning of the week.

Toby