Bitcoin Crypto Bubble Mania! Dear Reader It's your lucky day! you get access to my latest market brief posted to patrons this morning. Market Brief Monday 4th March (9am UK Time) Bitcoin Crypto Mania $65k! On target to achieve NEW High of $71k BEFORE the HALVING! Possibly within the next few days! Believe it or not most crypto hollicks are following a pattern that calls for the new high some months AFTER the halving event and in fact many have been SHORTING the rally! Which basically says that the Halving Event is a NOTHING BURGER i.e crypto folks have been focused on an even Mid April when the action is taking place right now! Whilst I am already lightly trimming bitcoin and alt coin via limit orders. I am more focused on trimming my favourite Bitcoin proxy MSTR which has shot up like a rocket, closing Friday after hours at $1106, well beyond my target of $1000 by the halving and likely destined to break above $1200 this week, maybe even today! In advance of which I shared my trimming and buying levels. SELL $1038 1% BUY $876 1% As things stand I am now 79% invested in MSTR down from 106% of a few weeks ago, and likely will sell at least another 10% this week as in terms of fair value MSTR is now discounting a bitcoin price of $88k (1106 X 80) so is trading at an extreme which means MSTR is ripe for a sharp drop to below $900 regardless of what the Bitcoin does, i.e. we could see Bitcoin achieve $71k whilst MSTR drops to $900 which I am sure will confuse all those who bought the breakout above $1000. So don't get greedy folks, all those who bought MSTR sub $500 barely a month ago are now up more than 120%! It does not get much better than that! As for the S&P, we are likely to see an interim top at the same time as BTC, though obviously S&P upside potential is maybe only a couple of percent vs bitcoins 10%, for a correction of sorts. I will include an in depth analysis of Bitcoin and MSTR in my next article that I aim to post likely Tuesday AM. For immediate first access to ALL of my analysis and trend forecasts then do consider becoming a Patron by supporting my work for just $5 per month, this is your last chance to lock it in now at $5 before it soon rises to $7 per month for new sign-ups. https://www.patreon.com/Nadeem_Walayat. Latest analysis - How to Profit from the Global Warming ClImate Change Mega Death Trend I'm a climate change denier! I deny the right of climate change to prevent me from getting richer! Large swathes of planet may become a scorched earth but..... And gain access to my exclusive to patron's only content such as the How to Really Get Rich series. Change the Way You THINK! How to Really Get RICH - Part 1
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Monday, 4 March 2024
Bitcoin Crypto Bubble Mania!
