Why BITCOIN NEW ALL TIME HIGH Changes EVERYTHING!

Currencies / Bitcoin Nov 22, 2021 - 04:02 PM GMT

Crypto Portfolio Current State

So far the crypto markets have managed to dodge the black swan bullets and so I hold ZERO of the two largest market cap crypto's, Bitcoin and Ethereum. Instead what had fallen to deep discounts have been the Alt coins, though again not to the extent where I would have piled in head first hoovering up huge amounts of crypto's as the current state of my crypto portfolio illustrates where even the crypto I have been banging on about all year Ravencoin is just scratching the surface at about 12% of my target holding, the table lists crypto's in order of my target $ position size.

Overall just over 10% of my target funds have been invested when by now I would have expected to be about 50% invested as I basically let the limit orders do their work accumulating on the few and far between price spikes lower, gradually raising the limits over time.

The primary purpose of the bear market was to accumulate into where the greater the deviation from the high then the greater the buying opportunity presented. So since I bought diddly squat of BTC and ETH does that now mean I have missed the next crypto bull market boat? HELL NO!

In fact I am content that I don't hold any bitcoin. Why? Because I see it as basically dead money. In the midst of the bear market the most I could imagine BTC reaching during the next mania was doubling to a high of about $130k, and even then I would probably have planned to have exited at around $100k, which is why I sought a repeat of past bear markets so BTC could then deliver a target X5 return in exchange for the risk of falling to under $10k. However crypto's that did fall harder and further than either BTC and ETH were the ALT coins that saw huge deviations form their highs and thus truly allowed one to fantasise about achieving X10 returns.

Now with Bitcoin having traded to a NEW all time amounts to a switch being flipped on the crypto markets, effectively acting as a wake up call, a slap on the back of my head to switch strategy as the bear accumulation phase is OVER. It's time to bite the bullet and start buying at the market especially in those select few alt cons still trading at a significant discount to their highs as indicated in my table above.

The crypto bear market i.e. deviations form the previous bull market highs form the outset was to accumulate into so as to sell into the next mania peak at many multiples of the previous highs. So if one buys significantly BELOW the previous highs then that's job done! Sit back and let the next mania do it's work.

The BITCOIN NEW ALL TIME HIGH Changes EVERYTHING!

1. bitcoin leads the alt coins that will follow in no more than a couple of months or likely several weeks later, i.e. retail money first flows into BITCOIN sending it's price soaring as is taking place today with very few alt coins joining Bitcoin in the rush to new all time highs.

2. The longer the bitcoin rush to highs goes on the more retail investor funds start seeping into the alt coins and thus they begin their their bull runs to many times their previous highs, given the weight of capital seeking home in relatively small market cap markets.

3. Then Bitcoin peaks and trades along it's highs as the Alt coins start to soar into the stratosphere as money LEAVES bitcoin and goes into the alt coins, which then start to soar to well beyond their previous highs as Alt coin mania takes hold.

That is what happened last time! And that's what I expect to happen during the next great crypto bull market.

For instance this is what Bitcoin did when it last broke to a new all time high. With the ALT coins typically starting to embark on their parabolic runs some 1 to 2 months later!

So understand this I / we have missed NOTHING! For we are at the very beginning\s of the next crypto bull market that 'should' see the Alt's trade at many multiples of their previous bull market highs. There is huge upside to the $2 trillion crypto market, for instance APPLE has a greater market cap than the whole of the crypto universe which illustrates the potential for where the crypto's could be trading upto in 5 to 6 months time.

This article is an excerpt from my recent extensive analysis of the crypto markets - Bitcoin NEW All time High is TRIGGER for Future Alt Coins Price Explosion

Contents:

Bitcoin & Ethereum 2021 Trend
Crypto Portfolio Current State
The BITCOIN NEW ALL TIME HIGH Changes EVERYTHING!
Ravencoin to the MOON!
What am I doing?
How to Invest in Crypto's
Bitcoin 2022 Price Target
Ethereum 2022 Price Target
Ravencoin 2022 Price Target
Cardano (ADA) 2022 Price Target
Chainlink 2022 Price Target
Pokadot 2022 Price Target
Solano 2022 Price Target
Litecoin 2022 Price Target
Arweave 2022 Price Target
Stellar Lumens - XLM 2022 Price Target
Eth Classic 2022 Price Target
Vechain 2022 Price Target
EOS 2022 Price Target
Earnings Noise Delivers INTEL And IBM Buy Opps
Facebook and Google Could CRASH 10% Post Earnings Day
High Risk Stocks Swings and Roundabouts

The whole of which that maps out what I expect to happen during the next big crypto bull market that is yet to start for most crypto's was first been made available to Patrons who support my work. So for immediate first access to ALL of my analysis and trend forecasts then do consider becoming a Patron by supporting my work for just $4 per month. https://www.patreon.com/Nadeem_Walayat.

For crypto trading and investing see Binance for 10% discount on trading fees - Discount Code LZ728VLZ

For managing your crypto's see Coinbase

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Also access to why inflation will be far from transitory, batten down the hatches for what's to come-

Protect Your Wealth From PERMANENT Transitory Inflation

Best Real Terms Asset Price Growth Countries for the Next 10 Years
Worst Real Terms Asset Price Growth Countries for the Next 10 Years
The INFLATION MEGA-TREND
Ripples of Deflation on an Ocean of Inflation!
Stock Market Trend Forecast Current State
US Dollar - Stocks Correlation
US Dollar vs Yields vs Dow
Stock Market Conclusion
34th Anniversary of the Greatest Crash in Stock Market History - 1987
Key Lesson - How to REALLY Trade Markets
AI Stocks Portfolio Current State
October Investing Plan
HIGH RISK STOCKS INVEST AND FORGET PORTFOLIO
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And my extensive analysis of Silver concluding in a trend forecast into Mid 2022.

Silver Price Trend Forecast October 2021 to May 2022, CHINOBLE! AI Stocks Buying Plan

UK Inflation Soaring into the Stratosphere, Real rate Probably 20% Per Annum
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Silver Previous Forecast Recap
Gold Price Trend Implications for Silver
Silver Supply and Demand
Silver vs US Dollar
Gold / Silver Ratio
SILVER Trend Analysis
Long-term Trend Analysis
Formulating a Trend Forecast
Silver Price Trend Forecast October 2021 to May 2022
Silver Investing Strategy
SIL ETF - What About Silver Mining Stocks?
Gold Price Trend Brief
Why the CCP is Living on Borrowed Time and Needs a War
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AI Stocks Portfolio Investing Strategy
AI Stocks Portfolio Amendments
AI Stocks Portfolio Current State
October Investing Plan
HIGH RISK STOCKS INVEST AND FORGET PORTFOLIO
Why China Could Crash Bitcoin / Crypto's!
My Next Analysis

Also my recent latest extensive analysis on the prospects for the stock market into Mid 2021 see - Stock Market FOMO Hits September Brick Wall - Dow Trend Forecast Sept 2021 to May 2022

Contents:

Stock Market Forecast 2021 Review
Stock Market AI mega-trend Big Picture
US Economy and Stock Market Addicted to Deficit Spending
US Economy Has Been in an Economic Depression Since 2008
Inflation and the Crazy Crypto Markets
Inflation Consequences for the Stock Market
FED Balance Sheet
Weakening Stock Market Breadth
Why Most Stocks May Go Nowhere for the Next 10 Years!
FANG Stocks
Margin Debt
Dow Short-term Trend Analysis
Dow Annual Percent Change
Dow Long-term Trend Analysis
ELLIOTT WAVES Analysis
Stocks and 10 Year Bond Yields
SEASONAL ANALYSIS
Short-term Seasonal Trend
US Presidential Cycle
Best Time of Year to Invest in Stocks
2021 - 2022 Seasonal Investing Pattern
Formulating a Stock Market Trend Forecast
Dow Stock Market Trend Forecast Sept 2021 to May 2022 Conclusion
Investing fundamentals
IBM Continuing to Revolutionise Computing
AI Stocks Portfolio Current State
My Late October Stocks Buying Plan
HIGH RISK STOCKS - Invest and Forget!
Afghanistan The Next Chinese Province, Australia Living on Borrowed Time
CHINA! CHINA! CHINA!
Evergrande China's Lehman's Moment
Aukus Ruckus

So for immediate first access to ALL of my analysis and trend forecasts then do consider becoming a Patron by supporting my work for just $4 per. https://www.patreon.com/Nadeem_Walayat.

My analysis schedule includes:

UK House Prices Trend Analysis, including an update for the US and a quick look at Canada and China - 65% done
How to Get Rich! - 90% done - This is a good 6 month work in progress nearing completion.

US Dollar and British Pound analysis
Gold Price Trend Analysis - 10%

Again for immediate access to all my work do consider becoming a Patron by supporting my work for just $4 per month. https://www.patreon.com/Nadeem_Walayat.

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Your Crypto's accumulating analyst.

Nadeem Walayat

http://www.marketoracle.co.uk

Nadeem Walayat has over 35 years experience of trading derivatives, portfolio management and analysing the financial markets, including one of few who both anticipated and Beat the 1987 Crash. Nadeem's forward looking analysis focuses on UK inflation, economy, interest rates and housing market. He is the author of five ebook's in the The Inflation Mega-Trend and Stocks Stealth Bull Market series that can be downloaded for Free.

Nadeem is the Editor of The Market Oracle, a FREE Daily Financial Markets Analysis & Forecasting online publication that presents in-depth analysis from over 1000 experienced analysts on a range of views of the probable direction of the financial markets, thus enabling our readers to arrive at an informed opinion on future market direction. http://www.marketoracle.co.uk

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any trading losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors before engaging in any trading activities.

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