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Bitcoin Hasn’t Reached Its Peak But
Bitcoin has pulled again considerably, however I nonetheless suppose we’re in a long-term uptrend. I simply don’t imagine this cycle has peaked but. With a excessive of $69,000 to this point this yr, we’re solely up about 3.5x from the 2017 cycle excessive of round $20,000.
On this atmosphere, with inflation raging, I anticipate bitcoin to proceed doing nicely. Evidently, I may very well be improper. That is crypto, and something can and does occur.
All of us anticipated bitcoin to hurry to $100,000 after it hit $69,000, however it simply hasn’t occurred but.
Because of this I don’t use leverage or commerce crypto. I simply maintain. It’s far simpler, you’re much less prone to lose all of it, and it’s a LOT extra tax environment friendly.
Excessive-quality Ethereum opponents like Solana (SOL) and Avalanche (AVAX) proceed to do nicely. Cash appears to be rotating into Ethereum scaling cash like Polygon (MATIC). That’s one thing to look at.
I’ve heard there are a number of good zk (zero information) rollup cash on the market. That’s a brand new scaling know-how coming to Ethereum quickly. Scaling cash are actually an space to look at. The Ethereum blockchain continues to be the “chain of file,” however it’s getting extra competitors and must scale ASAP.
Total I stay bullish, notably on bitcoin, which has the strongest catalyst driving it (inflation).
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