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An amazing week for crypto as the whole crypto space surpassed the 1 Trillion dollar mark! Bitcoin close to doubling its previous ATH and rumours of a possible drop.
If you took action since the last newsletter and are in the profits, congratulations! If you missed it, don't worry, there'll be lots of opportunities.
Usually after big run ups, taking profit may not be a bad idea but if you think it's going to go up more, it may be a good idea to invest in a hardware wallet like Nano Leger X.
If you are new to crypto, we have some resources to help you get started at One Hour Investing. We are also excited about the launch of our FAQ page for anyone who have questions about getting started with crypto.
I follow a couple crypto YouTubers on a daily basis to know what's new in the crypto/Defi space. Here's a summary of videos of what they're saying regarding crypto: Datadash (Fundamental Investor):
- Altcoin cycle is getting started
- Many alt coins are outpacing Bitcoin
- A lot of new liquidity circulating out of bitcoin and to other projects
- Many are seeing Alt coins on a discount relative to BTC (Many not at ATH yet)
- 2021 is very different from 2017. We have a lot more applications, a lot more institutional $$
- Keeping an eye on Ethereum
Crypto Kirby (Bearish. Expecting 30% drop):
- Expecting a 30% drop as people will be want to take profit
- High volatility expected
- Bearish case: retest 20k range
- Bullish case: If BTC does not correct, next stop = 60k (1.618 Fibbonachi target)
Satoshi Stacker (Cautiously watching BTC):
- Suggesting to buy dips
- Price discovery area, expecting next stop at 52k
- New records in the RSI
- decreasing exchange inventory
CryptoWendyO
- 20 billion locked up in decentralized finance
- Grayscale drops XRP
- BTC going to 40k bullish or 36k short term consolidation
- 50k is within reach
- Feel that a correction is due but BTC is not as there's a lot of buy pressure
BitBoy Crypto
- Not sure if we will see a big correction
- 40k could be a place of rejection (or hard resistance)
- Waiting for BTC pull back
- Could be a big profit taking area for institutional investors (impact may be overshadowed by retail FOMO)
- Fundamentally, BTC will only rise due to amount of money printing by the FEDs
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