Bitcoin Touching 40k – We Are Back Baby!
Much to the chagrin of all those detractors and doubters … Bitcoin just hit $40,000 overnight. Yes, it happens that fast in a bull market. From zero to hero. Which is exactly why I didn’t design the system to jump in and out of tethers or what have you for (perceived) safety. You know who you are 😉
And to the muppets who keep suggesting that “I would have jumped into tethers”…. no you wouldn’t. Not in a million years would you have done that.
Not one (sane) person in the entire crypto universe jumped into tethers when things were rockin’, and anyone who jumped into tethers at 28K now faces a shit-stick option of buying back at 40K.
Also commonly known as the “dummy tax”.
Flipping in and out of cash is a really difficult thing to do, and everytime you jump in and out you are doing it after the strongest part of the move.
Believe me, I’ve tried and that more than once. Reason being you always end up one step behind the running hare.
Imagine jumping out into tether for “safety” at $30K, and being forced to buy back in at $40K. Imagine doing that through every little wiggle in the price over the next year…
It would turn my beautiful, robust system that I KNOW will work into some fragile bag of cats that needs a lot of luck and duct tape to stay in one piece.
It is axiomatic that the biggest bull markets kick off strongly… so this is exactly what we want to see here.
Sometimes trading seems so easy and reliable that nearly all your trades are making money.
And then all of a sudden things get hard. Very hard.
Nothing works. Everything looks bleak.
The only way to win in these phases is to either not play, or trade way less than usual.
Which is why the system switched to BTC and ETH during the last few months… switching in and out of altcoins would have been disastrous.
So how do we know this crypto winter is over?
It should be OBVIOUS. Undeniable. Indisputable.
This is bitcoin the last week. It should be obvious to all that the character has changed… from choppy and hard fought to clean and directional.
From hard-time to easy-time. Winter to Spring.
What is most significant is that for 6 days in a row the bears have been so weak that they can’t push price down below the previous bar low.
That means that selling pressure is objectively weak.
The people who were going to sell, have sold. And the only people left are the ones with massive brass balls.
I for one didn’t sell in the last 2 months. And neither did anyone in my Cryptonaissance trading group. Good for them!
I’m holding out for prices above 250K in BTC. And multiplying my BTC stack 3-5 times in the next 6 months.
Which…………. let me calculate it………. is going to make me RICH AS F…..K.
Pretty much everyone who could stomach holding through the last few months of endless prison rape feels the same.
I felt the pain. Now it’s my turn to get my just rewards.
It’s clear that the bear phase in crypto is over.
What’s not clear to most people yet is that the coins that are moving first and fastest are the quality small and medium cap coins.
That DOESN”T happen at the start of a new bull market. At the start of a new bull market traders are cautious.
They start out buy buying some bitcoin, and only jump into riskier altcoins when things seem safe again.
Not here. Traders are jumping back into altcoins with real conviction.
For just one example take a look at THETA which I’ve discussed with a few people in my trading group yesterday.
Not only is it going up, but going up FASTER than bitcoin.
And the monthly chart looks like exactly what we want to see… a healthy pullback and not technical damage.
The people who thought we were in a crypto bear market are wrong. Dead wrong.
And JUST.LIKE.THAT…. markets are moving like the bull market never stopped….
Just like I suggested when I emailed you this chart last Friday. It was an early harbinger of greener pastures ahead.
So, how did our system perform during the downturn?
Not so shabby at all. Down about 30% in BTC terms (and of course bitcoin was down from $64K to $28K at the lows).
Heck, I’m not concerned about that. The whole thing is predicated on eventual bull market highs for BTC anyway. Without that we are screwed.
What WOULD have concerned me is bleeding my BTC stack away, which didn’t happen.
So I’m happy with the way the system performed in the most significant bear event in 5 years.
It did it’s job on the way up, on the way down, and it’s ready to do what it does again.
“What it does” is multiply bitcoin – it’s what it’s built to do. Takes a small stack, and turns it into a large stack, with mathematical precision.
And then if and when bitcoin goes stupid again (historically it’s always gone stupid at some point) you are poised to get an incredible, life changing win.
Join me. Get the win with me. How?
In celebration of bitcoin touching the 40k mark I have opened up 10 seats in my Cryptonaissance Wealth Creation System.
I’ve already emailed everyone on my waiting list, but if you’re quick you may be able to squeak in now.
Better today with bitcoin near 40k than later this year at 100k or higher 😉
Happy trading but keep it frosty.