The state of Crypto
Less Technical Analysis in this post today. I would like to keep things simple and talk with you candidly about how I see the market going in both the short and long term. The mood considered I am working based on the following:
- We are indeed a lengthening cycle
- We are indeed still in a bull market that WILL end
- A blow-off top is coming in the short term
- We are still 'early', with more adoption and exponential growth in the crypto space is yet to come
Blow off top
As things are, at present I am accumulating a few projects that I believe will weather the upcoming bear market for which I plan to earn a yield until the next halving. These coins are Ethereum ($ETH) and Cardano ($ADA), however, let it be said that I will accumulate more heavily on ADA, particularly at prices sub $1.60.
I will also continue picking up metaverse and gaming cryptocurrencies which I believe have the potential for explosive growth in the short term, so long as the bull market lasts and will take profits on these and ultimately exit this position before the bear market comes. I do not want to be holding these bags long term.
I remain bullish on Bitcoin ($BTC) and TA shows $268,000 might be possible this bull cycle, but this will only be possible when FOMO comes in once media begins reporting on parabolic moves. Once BTC becomes overbought (over $80,000), I will be taking profits and reducing my position in BTC, at equal amounts all the way up, whatever target I don't reach will be HODL'd for the bull market. How much I sell will depend on which sell targets I meet up on the way up. For those coins I want to HODL long term, Nexo provides the security and insurance to HODL in confidence for the long and short term, with rewards of up to 20% which is paid daily. Using my link below, you can pick yourself up a free $25 in Bitcoin just for opening an account and earning interest on more than $100 worth of crypto.
Having a plan ahead of time prevents greed, fear and indecision from affecting profits.
Cardano looking good for accumulation at these levels
Cardano ($ADA), I believe will make surprising moves over the next few weeks to the upside, with a very bullish descending wedge having formed since BTC began retesting the 21 Support Band. $1.60 seems ridiculously cheap right now considering the value and potential of the project. Active Cardano wallets have increased 200% since the last hard fork.
By the end of this year, I think we will be very happy about getting into Crypto, but I expect the mad moves to have happened before Q2 of 2022. Then we can look forward to some bargain BTC prices following a stiff and brutal 80% correction.
$100's of free Crypto
I was excited today to have confirmed more than $500 worth of SocialGood ($SG) token from doing my Christmas Shopping. I have written a full article on the project before explaining it in more detail, so I'll be brief: SocialGood is an app that gives you cashback in SG token for shopping online, and its one of the most rewarding coins I have been involved with, especially since it's free to accumulate when you buy from retailers online. At present they have increased their sign up rewards which give you $100 free with this link. I'm a very happy SG HODL'ler and you can earn up to 15% APY just for holding it in the wallet, if you don't want to cash it out for other ERC20 Tokens that is.
I'm looking to take profits on Bitcoin at $88k in the shorter term as things stand.