BREAKING NEWS: The Bull Market is BACK!
Bitcoin never disappoints. If you held strong, your time has finally come!
We’re so back! This bull market will be glorious. GLORIOUS.
There is no more space for denial. Bears have lost this fight and the bull market is now in full swing. Congratulations if you are still here after a brutal bear market.
You made it.
In this issue, I look where we are - right now - on the bull market map and where we’re going. Exciting stuff. Scroll down.
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The most important chart in crypto
The Total Crypto Market Capitalization clearly shows we have entered bull market territory. I also made a video about it and below I list the reasons.
Here’s why the bull market has arrived:
The price is making higher highs & higher lows
Major breakout from key resistance
Highest buy volume since the last bull market
Alts pumping with double digits
Institutional FOMO
Michael Saylor is $1 billion in profit on his BTC position
The reason I mention Michael Saylor (MicroStrategy boss) is because for every $1,000 increase in BTC’s price, his company makes $158 million in profit on its BTC portfolio. This bull market could make Saylor one of the most successful investors of all times.
Where next for Bitcoin? TLDR: Up ⬆
As long as the price holds above 36k, then the path is clear for Bitcoin to move higher, fast. The next major target is at 42k.
In the below chart, I projected the price of Bitcoin based on the rally from 2020 after it broke above 10k. As you can see, BTC may take some time to really kick into gear, but once it clears 48k, then it could explode.
Interestingly enough, the projection starts to pump just after the expected halving in April 2024. While it looks intriguing, it’s important to note that this is just a guess and reality will differ.
What about altcoins?
Some altcoins already doubled or tripled in price. Just look at KUJI, LINK, RUNE or SOL which we discussed before. However, one altcoin has been lagging - Ethereum. This all changed this week when BlackRock, the world’s largest asset manager, registered an ETH ETF.
Overnight, Ethereum recovered most losses versus Bitcoin and appears keen to make a major breakout on the USD chart that could see it rally to $3,000. This would be bullish for most altcoins that are still lagging. Why?
Money is returning to crypto
Since the bear market started, the total market cap of stablecoins has been falling. This has reversed now and the market cap is increasing again. Fresh money is entering the space. Exciting news!
With new money comes new opportunities and prices did not hesitate to show it. Resistance after resistance across multiple charts are getting obliterated. Remember, the trend is your friend!
When and where do you sell?
Guessing the top is hard. But, we have historical data to help us. I made a post about that and I encourage you to read it below. It shows you where Bitcoin may end up in the coming bull market. The second post talks about how to take profit.
If you missed these two, make sure you read them.
Don’t be alone in this space when things will get crazy during the bull market. It’s hard! Having trusted friends around you can make a huge difference to your success. I encourage you to join my community and get comfortable, it’s going to be a wild ride.
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