Happy merge day everyone. Looks like the decision to purchase ETH a few months ago has been validated. Not selling anytime soon.
I have decided to re-enter the market with a 50/50 allocation of Bitcoin and Ethereum. We are around the 200 week moving average buy in prices that I flagged previously. If the situation goes south I'll revert back to cash again.
Well things are looking pretty dire, inflation is out of control, centralised lending platforms are going bust, FOMC meets next week with the bad CPI print, QT ramps up to the full 95 billion in the next few months. I do not think the bottom is in yet. So we are staying in cash for the moment.
The 200 week moving average for Bitcoin is sitting at 22k and for Ethereum its at 1180. These are likely the ideal entry points back into the market assuming macro doesn't get worse.
Still in cash. Waiting. What worries me is Quantitative Tightening from the Federal Reserve which is set to start in June and then ramp up over the coming months. Planning to wait to see how the market reacts to that before deciding whether to re-enter.
Still not seeing anything I like about this market right now. Staying in cash.
Holding tight here, not buying into this yet. I think its possible we could see 14k-20k for BTC and $1000 to $1400 for ETH. Macro looks shocking.
Holy shit that was epic. Close to buying in now.
Moves like the one we just saw to the downside reinforce my belief that we are still headed down for some time to come. Hence we are staying in cash.
Another fairly boring week in our slow grind down. Not buying here. Safest place right now is cash or gold.