BTC / USD long. Why is crypto rising?

10 Des 2023

I'd like to ask a question: why is crypto still rising? We can find the answers in history.

But first I want to tell you that the bull market will long for the other two years from now on.

Surely there may be short squeezes to $ 30 000 for bitcoin or even lower. However the main direction for the crypto market is long.

The matter is more and more people join crypto market.

Do you remember the time when Elon Mask said that Tesla bought bitcoin?

But I'd like you to pay attention that before Tesla bought bitcoin there was the GREAT FLOOD OF MONEY into Tesla. Let's see when it happened on its chart (pick 'All time' on the chart):

TSLA

1. Someone started to put big money into Tesla in the beginning of 2020 year. Just before the COVID market crash.

2. After that in Summer of 2020 Michael Saylor said that MicroStrategy will start to accumulate bitcoin.

3. And in the end of 2020 Elon Mask said that Tesla bought bitcoin for $ 1.5 billion.

4. Despite China banned bitcoin mining in 2021 Cathie Wood, Jack Dorsey, & Elon Musk expanded the price of bitcoin to the new ATH at the end of 2021. Search Google for "The ₿ Word | Live with Cathie Wood, Jack Dorsey, & Elon Musk" to see their show.

But let's come back to the current cycle of crypto market which started from bitcoin crash in 2022 year.

5. In August of 2022 the biggest investment company of the world BlackRock started its cooperation with Coinbase. Their investment platform Aladdin was connected to Coinbase Prime.

6. On the 27th of September 2022 BlackRock opened an ETF fund: iShares Trust iShares Blockchain and Tech ETF.

7. On the 15 of June 2023 BlackRock's iShares Files Paperwork for Spot Bitcoin ETF.

After that a lot of money started to come to the crypto market. According to CoinShares from the beginning of 2023 institutions invested to bitcoin and other cryptocurrencies more than $ 1.8 billion. Over 1.6 billion of that money were invested in bitcoin.

I believe that now we are only in the beginning of the crypto bull run!

11 Des 2023

Catatan

If you analyze the BTCUSD chart today:

BTCUSD

you can see how a short squeeze in the bull market looks like.

11 Des 2023

Catatan

You can ask me a question: "What you would do now in the crypto market to make money?" I have two answers:

1. We see that the price of bitcoin didn't go over $ 45 k. It may go but I believe that the bull market is still weak now. So I suppose that the price of bitcoin will not go over $ 45 k , say, in the nearest half a year.

In the current cycle if the price of bitcoin will go under $ 20 k again, many will start to sell. Remember - when FTX crypto exchange collapsed , almost 7000 of BTC was sold immediately. So I suppose that the price will not touch $ 20 k again.

So we have a range. If I have a trading bot I would trade in this range between $ 20 k (for the low) and $ 45 k (for the high). In one of crypto exchanges I saw a bot that made $ 300 000 for half a year trading BTC/USDT pair.

2. If I don't have a position in crypto at all and have , say , $ 10 k now, I would start to buy every month the following cryptocurrencies for $ 1 k: 5 % of bitcoin (BTC), 3 $ of Ethereum (ETH) and 2 % of Ripple (XRP). But I would start to buy not in December 2023, but in January 2024 and do that every month for 10 months.

12 Des 2023

Catatan

1. We don't know for sure now if bitcoin price goes up and breaks $ 45 k, or it goes down under $ 40 k.

But the trigger to open your position with a trading bot within the range $ 20 k for the low level of price and 45 k for the high one is when the price of bitcoin goes under $ 40 k.

I will update this idea when it happens that you know for sure I have entered into BTCUSDT position with a trading bot.

If you don't know how to open positions with a trading bot, write me in comments. If there are many comments with questions about trading bots, I will start to teach my subscribers how to use trading bots to not lose money.

2. I already have my positions in BTC which I bought under $ 20 k and in ETH which I bought at ~ 0.05 BTC for ETH.
If you look at the ETHBTC chart:

ETHBTC

you can see that the support is at 0.05 BTC for ETH. However I have 50 % of BTC in my portfolio and only 10% of ETH now. I will rebalance my portfolio for BTC and ETH in the right time.

But I don't have any Ripple in my portfolio , so I'm going to buy XRP every month for 10 months starting in January 2024.

I will open a long XRP idea when I start to buy XRP.

13 Des 2023

Catatan

1. You can ask me another question: Why do you open a long position (opened positions with a trading bot in the spot market are always long) while the market is falling?

1.1 Because we will have a global bull crypto market in the nearest future.

1.2 We never know how low can the price go.

1.3 If we use Fibonacci levels , we can pay attention at the Zero level (~ $ 34 k) and - 27 ($ 24 k)

1.4 One of the commenters said that the price can go to the range $ 31 to 32 k. If I open position in bitcoin with a trading bot under $ 40 k, first time I will close my position at $ 31 to 32 k, because it really sounds good.

I will close it into BTC + USDT (because I use USDT stablecoin in the exchange where I trade). After that I transfer BTC to a cold storage wallet and for USDT I will open a new BTC/USDT position with a trading bot (I will tell you when this happens).

That is what I'm going to do with BTCUSD pair in the nearest future.

22 Des 2023

Catatan

Bitcoin is trading in the range $ 40 - 44 k. If it falls under $ 40 k I will open a long BTCUSD position with a trading bot. My goal is to win more bitcoin with a trading bot before the strong crypto bull run.