Sirwin
Sirwin

Easy to Get Rich; Hard to Preserve in Crypto


The recent SEC drama summarized how institutional and global whales are approaching the crypto ecosystem. The market was slightly recovering from the bottom level which was absurdly surpassed while the whole sentiment in the global perspective, the stable interest rate expectation, more bullish news, and accumulation in the technical charts were ready to push the prices higher.

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The interest in crypto is untameable. People want to put their money into technology-based projects and companies. Look at NASDAQ's growth and the unrealistic divergence between crypto and other markets. So far, there has been a "harmony" between the technology industry and crypto as our market was also perceived as a tech-based one. Afterward, crypto was seen as a DXY killer (!) which is not a good sign as Gold is already an existing fiat money killer for centuries.

As the crypto market pushes higher, that was perceived as a threat to the rise of DXY while the FED was controlling the markets not with more interest rate spikes but with verbal directions. When crypto showed some signs of rise, there was a need for immediate action.

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Actually, the DXY is going down as GBP and EURO continue increasing the interest rates while the FED kept it stable. We will definitely see the "slight" downtrend for DXY but trying to accelerate it might end up with more manipulation in crypto as it happened!

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The crypto market has started to go up from the accumulating market range. Actually, we cannot confirm that this will be the first leg of an uptrend, yet. We may have another retreatment like in the previous weeks before a stronger one. However, slowly but firmly, we are watching the shift of money into crypto ecosystem as the narrative of inflation and interest rates start to die out!

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Please have a look at these price actions. The red candles represent retailers selling their precious crypto for almost local bottom prices in the yellow squares while the subsequent green candles that cover up all the volume back represent the institutional investors, giants, whales, and other big boys of the global markets.

The narratives of the SEC, the lawsuits against Binance, and labeling some cryptocurrencies as securities were nice shots to take your Bitcoin and Ethereum in discount.

When you have 1 BTC bought at 15k, it multiplies for 4.5 times When you buy 1 BTC at 20k, it makes 3.5x When you buy 1 BTC at 30k, it doubles and makes slightly above it.

All these price actions, going from 15k to 30k happen in a couple of days / week in crypto while the bear markets take 2 years or 3 years to start another bull run!

The eyes will always be on crypto because thousands of celebrities, politicians, investors, and companies directly or indirectly invest in crypto! Remember, Goldman Sachs is a shareholder of Circle a.k.a USDC's issuer! Sometimes we forget the fact that nobody can know who has invested in crypto and how much they are holding unless we exactly know their wallet addresses.

The bullish sentiment is here to stay. Either the manipulations will be ceased to let crypto go up as naturally expected or people will no longer give credit to the news, policy makers, and whales for their malicious actions.

Every single drop will be an opportunity for Dollar Cost Averaging in these prices. We still have not seen any strong or risky increase in the price IMHO. Bitcoin, or the crypto ecosystem in general, is reputed for its volatility. This is nothing new for us. I expect to have some retracement to 27k+ levels and my last big chunk of purchases may happen at these levels. $1.4T crypto market is way undervalued for me. Thus, I want to put my money in crypto while the other options seem less profitable. Depending on your Risk / Reward ratio, make your own decisions.

Stick to your precious investments, and follow your plans.

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idiosyncratic
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Crypto-Blogger 🖊Blockchain Gamer 🎮 https://read.cash/@idiosyncratic https://noise.cash/u/idiosyncratic1 https://leofinance.io/@idiosyncratic1


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