BTC breaks ATH... What next?
Bears are extinct
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Reactions and opinions on $BTC breaking its all time high:
There's nothing like a new Bitcoin all-time high that brings unity to the entire market Regardless if you're a maxi, defi user, or NFT collector That's b/c when Bitcoin is up, we all know that altcoins eventually follow and that NFT prices likely appreciate as well 🤝
The amount of momentum this market has is staggering. Selling anywhere before $100,000 is a complete waste 6 figures is on the horizon fast approaching #Bitcoin
I remember when $10K looked like a dream. #Bitcoin never breaks previous ATH just to land 50% higher. Minimum $120K is very likely.
Nothing like a bit of perspective.
Bitcoin's October Price: 2010: $0.06 2011: $5 2012: $12 2013: $125 2014: $380 2015: $237 2016: $615 2017: $4,400 2018: $6,600 2019: $8,400 2020: $12,600 2021: $66,000 Bitcoin is inevitable.
Ok, ok we are euphoric, but what are the charts saying:
$BTC $75,000 USD by eoy 🧲 = inevitable
$BTC $75,000 USD by eoy 🧲 = inevitable https://t.co/eSvxY7mZSZ
RookieXBT 🧲 @RookieXBT
I just love this perspective on Bitcoin price. Credit legend @PeterLBrandt for the 4x parabola interpretation. I used to have 3 people I actually listened to for Bitcoin charting. Since last year it's down to 2, @PeterLBrandt and @PARABOLIT.
The 2017 bull market lasted about 35% longer than the 2013 bull market. If we assume that this one is also going to last about 35% longer than the previous one then by the end of Q1 2021 the bull market should end. $BTC
The $BTC dominance breakdown from JT (expert trader that deserves more followers in our humble opinion):
$BTC Dominance BIG Pcture - #BTC.D chart on @tradingview
tradingview.com$BTC Dominance BIG Pcture for CRYPTOCAP:BTC.D by JTheretohelp1Friends, what a day?! New ATH’s and the champagne is being brought out! That said, we all want to know, “What about $Alts?” Well this chart tells us a lot, & based on all the data, we are in a massive descending triangle that will soon break. But before that happens I could see another small leg hig…
Kaleo is from the future.
What a thread.
#Bitcoin / $BTC If this happens, will you be ready? https://t.co/AgDzPSUy4A
K A L E O @CryptoKaleo
More Bitcoin futures. Just like London buses…
Thoughts on how to ride the wave and allocate going forward:
NOT INVESTMENT ADVICE but the way I like to think about playing a bull move is it's like riding a wave from high to low market cap (across time). So a quality wave might be BTC --> ETH, SOL, FTT > SRM > JET, ORCA. disclaimer: we are hella long all of those
The best time to rotate into strong alts? Yesterday apparently.
$LUNA (along with some other L1s) casually outperforming during a BTC ATH break. It's alright, you can continue waiting for the highly coveted perfectly timed rotation of BTC money into alts.
The most obvious alt season mover is $FTT imo Frustrating af in the short-term but I'll cope by saying stagnant PA is a form of shakeout. Just going to keep accumulating until I get gargantuan sized spot bags and aim for a 3-5x then fuck off forever courtesy of Sam.
It's important to watch the $BTC pairs at this point. Yes, your #altcoin might run in $USD value, but that's heavily skewed towards $BTC making a run against $USD. Timing the markets can be an explosion of ROI if you time it well by flipping towards altcoins.
$ETH short term target?
$ETH / USD An early S/R flip, bullish doesn't even cut it at this point. Excited to see the daily and weekly close. $5000 prob could be done in October now. Juiced!
$ETH going up is bad for NFTs?
I wrote about it so many times (sadly way too early) but now it happens, NFTs get absolutely devastated and this only the beginning. I pray for you if u have more than 5% net worth in NFTs right now, it’s gonna get ogrish before the pain will ease.
As ETH breaks $4000, pain sets in for those that didn’t take any profits during that epic NFT run. This causes panic selling for fear of never having any ETH as it goes to $10k. Vicious cycle really.
Today’s shower thought:
I think we are in, and have been in, a golden age for crypto - enough built so we aren’t just trading the 5m candles in Mex troll box and there’s real stuff to evaluate critically - not enough built where the average people/allocators have totally compressed our returns
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