š Back in my college days, I was hustling hard, juggling odd jobs just to make ends meet. Then a buddy introduced me to the wild world of crypto. I threw my savings into altcoins like Luna, and overnight, my investment skyrocketed. But just as quickly, it all vanished. Lesson learned: the crypto rollercoaster is not for the faint-hearted! š¢
Fast forward to today, and we're seeing some intriguing dynamics in the crypto space:
1. US Elections & BTC: Over the past decade, BTC has weathered political shifts without direct correlation to who's in the White House. It's a reminder that crypto often dances to its own tune. š¶
2. Employment & Monetary Policy: A strong job market might slow down rate cuts. The real test for monetary policy will be next year. š
3. Stock Market Highs vs. BTC: While stocks hit new highs, crypto often moves independently. A stock market dip could ripple through to BTC. š
4. ETF Inflows: Despite significant inflows, BTC's price hasn't surged, hinting at simultaneous large exits. Even giants like Grayscale and BlackRock face challenges. š¼
5. Technical Indicators: Weekly MACD crossovers are bullish, but they can quickly reverse. Take them with a grain of salt. š§
6. Halving History: The real driver now is monetary policy, not halving events. This cycle's policy adjustments are taking longer, so patience is key. ā³
7. Liquidity & Price Drivers: Liquidity from monetary policy is crucial. With ongoing balance sheet reductions and a strong dollar, we're far from a QE environment. Yet, BTC has climbed from $15,500 to $68,000. Finding a buying rationale in this market is tough. š”
At the current price of $87,913.6, I'm fully invested and optimistic about BTC's potential to break new ground. š
#CryptoVeteran #MarketInsights $BTC $ETH š If you found this insightful, don't forget to like, follow, and retweet! Let's ride this wave together! š
#Devcon2024 #USInflationAboveTarget #TrumpNominatesMuskDOGE