Bitcoin Price TRIGGER for Accumulating Into Alt Coins for 2022 Price Explosion
Currencies / cryptocurrency Nov 30, 2021 - 03:01 PM GMTBy: Nadeem_Walayat
Dear Reader
Firstly, crypto's are VERY HIGH RISK, the crypto bugs constantly talk about how manipulated fiat, stocks and precious metals are hence they seek their financial freedom in decentralised crypto currencies. However in my opinion crypto currencies are probably the most manipulated markets of the lot where huge amounts of coins reside in whale wallets that could be dumped onto the markets at any time. Then there are the inflation rates, crypto coin printing on an epic scale that would even make the Fed's Powell blush where comparatively low prices against all time highs can easily fool unsuspecting crypto investors into buying garbage with masked inflation rates in excess of over 100% that thus can not sustain bull runs to capitalise on until the inflation rates moderate to under 10%, such as that of Filecoin where given the plethora of pump content out there one is hard pressed to determine the true inflation rate that apparently is currently running at 160% against that of say Bitcoin's inflation rate of about 1.6%.
So I have approached crypto's with BOTH EYES WIDE OPEN! Hence why my strategy during the great crypto bear market of 2021 was to accumulate into a select few crypto's that my research had deemed to be relatively safe at DEEP discounts to their highs of as much as 80% below their peaks, where if I did not get the discounts then I was not going to buy i.e. my first buy limit order for Bitcoin was at $26k and then ranged all the way down to about $14k with a cluster just under $20k as that was what I deemed to be a fair risk for what could happen i.e. one of the many lurking black swans out there such as the ponzi scheme USDT imploding sending BTC all the way down to $4k from which a recover back to break even would be tough.
This article is part 1 of 2 of extensive analysis - 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
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VR and Gaming Becomes the Metaverse
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PRIMARY META-VERSE STOCKS
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METAVERSE STOCKS UNIVERSE
Google Glass a Big Fat FAIL
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Current State of Cathy Wood ARKK Garbage
RIVIAN IPO Illustrates We are in the Mother of all Stock Bubbles
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How to Get Rich in the MetaVerse
Bitcoin Trend Analysis
Crypto Current Portfolio
Covid19 Winter Storm Fuel for Financial Crisis 2.0
OMICRON - The 'Oh Dear' Worst Ever Covid Strain?
Consequences for the Stock Markets?
Financial Crisis 2.0 Current State - TAPERING
Financial Crisis 2.0 Stock Market Bubble Investing Strategy
Why You Should Not Fear a 50% Draw down in Your Stocks Portfolio
What's driving asset price inflation?
Inflation Forecasting a Recession In 2022
UK Inflation Hits 30 year High of 6%
UK Energy Customers Falling into Energy Firms Fixed Rate Tariffs Trap
Fin tech Stock - NEW STOCK
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The China Syndrome
Stock Market Begins it's Year End Seasonal Santa Rally
Stock Market Trend Forecast Current State
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Peloton 35% CRASH a Lesson of What Happens When One Over Pays for a Loss Making Growth Stock
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How Stagflation Effects Stocks
INTEL Bargain - 15.5% Discount Sale
Why Intel stock price dropped 15%?
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IBM - 20% Discount
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APPLE 4% Discount
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Bitcoin Trend
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- 34th Anniversary of the Greatest Crash in Stock Market History - 1987
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Note: The information provided in this article is solely to enable you to make your own investment decisions and does not constitute a personal investment recommendation or personalised advice.
Bitcoin & Ethereum 2021 Trend
Bitcoin peaked in March 2021 at $65k and then fell to a low of $29k Mid June. Whilst my in-depth look at crypto's of Mid June based on preceding bull and bear markets concluded that BTC could trade down to under $20k, for a drop of at least 70% off the peak that failed to materialise. Which means none of my string of buy limits from $26k down to $16k were triggered and thus I hold no bitcoin.
And it was a similar case with Ethereum as I was only going to start buying Eth when it started to trade to under $1k.
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.
Ravencoin to the MOON!
Most Alt coins are still trading well BELOW their previous bull market highs i.e. ravencoin is trading at 40% of it's 29 cent high. And in advance of this analysis I flashed several messages in the Patreon comments section hat Ravencoin was about to break higher to start a bull run to new all time highs, soon followed by a quick video posted in my pinned post.
The Bitcoin switch being flipped means that It's going to be very hard to accumulate with limit orders, they just won't tend to get filled! As what's going to happen is people wanting to buy crypto's are going to keep chasing the prices higher constantly raising their limit orders and rarely getting filled, that's what the Bitcoin switch being flipped means! So most crypto investors are going to be sat their waiting for the dips to buy, and constantly moving limit orders behind the price in frustration as the corrections just keep failing to materialise or are so weak as to hardly register.
So understand this, only luck is going to get one filled in the Alt coins with limit orders on those occasional random spikes lower, or short lived crypto market panic events.
What am I doing?
I still have plenty of limit orders in place to catch those occasional spikes lower, though most of my distant limit orders have now been scrapped. But I don't hold much hope of getting much crypto via limit orders, maybe if I get luckily a market will spike lower. So instead I am buying some crypto at the market EVERY DAY. I look at the state of play each day and bite the bullet and just buy at the market because once these alt coins start crossing to new all time highs then well its going to become even more painful to buy! So better get the job done now whilst I can in this short window of perhaps not more than a 2 to 3 weeks where my objective is to reach at least 50% invested within the next few weeks up from my current 10.5%.
How to Invest in Crypto's
A number of patrons are asking me how to buy crypto's I primary use Binance and Nice Hash for my crypto trading and investing though have an account with Coinbase and can now buy crypto via Paypal in the UK..
Binance for 10% discount on trading fees - Discount Code LZ728VLZ.
For managing your crypto's see Coinbase ,
For GPU mining check out Nicehash (affiliate links).
Though patrons who do not understand the basic mechanisms of buying and selling crypto's i.e. how to place limit orders should take the time to research before consider embarking down this high risk route until they have gained adequate knowledge, a good starting point would be youtube where there are literally hundreds of videos of "How to place limit orders with Binance".
And here are charts of all of the crypto's that I am accumulating into as a guide to where they stand today relative to their highs and the potential I see for how high they could go during the next crypto mania bull run where it will be interesting to see how these price expectations age, i.e. where will we stand in say 4 to 6 months time when they should all be well on their way to their mania peaks.
Bitcoin 2022 Price Target
At best I see bitcoin doubling from $60k to $129k so just over X2 it's current price, I hold none and don't plans to buy not unless it trades down to belo 50k.
Luckily for all would be crypto investors out there and as i stated in my last analysis that once bitcoin makes a new all time high I expect it to CORRECT.
Which is what it is doing right now and likely for some more days, to maybe all the way down to just above $52k, which should drag other crypto's lower with it, which means timing is on our side, we have a short window of opportunity to accumulate crypto ASSETS, at prices that we may soon not see again for some time if ever.
Ethereum 2022 Price Target
ETH the worlds No2 crypto is closely chasing the coat tails of Bitcoin and should rise by about X2.5 it's current price to target $10k to $11lk. I hold none and don't plan to buy any not unless it trades down to under $3k.
Ravencoin
RVN my favourite crypto traded down to $0.042 form a high of $0.29 and still trades at a modest $0.12 at about 60% discount to it's 2021 high. Whilst Ravencoin's inflation rate of 16% is high, however the early January halving event could propel Ravencoin into the stratosphere, to well beyond $0.29. I have target of $1 to $1.1 penciled in for raven coin which offers a potential return of X9 the current price! I well definitely be ramping up my exposure to ravencoin over the coming days and weeks.
Cardano (ADA)
Next on my crypto menu is Cardano, current price $2.1, target $10 for a near X5 potential return. Again I need to start ramping up my exposure to Cardano.
Chainlink
The rest of this analysis has first been made available to patrons who support my work
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
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.
My analysis schedule includes:
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- 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.
Nadeem Walayat
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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
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