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I just got a phone call from a chap pushing me to buy cryptos especially bitcoin. I told him I preferred gold. I don’t know if this call means anything but when they start telephoning to convince the little guys to buy bitcoin, it may mean the big guys want out, so (imo) proceed with caution.
was at a family event and all of the young kids ( late 20s early 30s ) were on their phones trading small coins with great fury. One told me how he lost $7500 in a day. Another says he has 5000 followers on twitter . I asked what charting platform they use and just got blank stares. Their source o info was some guy toating to the moon on some tik tok site. omg the couch generation.
LOL OLOL
Sounds like a silver bug in training.. LOL
Or Uranium
Bitcoin & Ethereum’s recent COT report and Glassnode onchain analysis suggests other way round !
The Big Boys have been accumulating during recent downturn ! BIG transactions (I mean billions) in Bitcoin are the average recently. That happens at the end of a cyclical bear market or at the beginning of a bull !!
Personally I am expecting a big price explosion in this sector, maybe topping out in December and then 1-2 year bear market maybe driven by a stock market plunge…..
One thing is correct: we are late in this cycle (45 out of 48 months).
However the greater part of the move comes in the last 10% time wise.
Sentiment in the stock market is at extreme fear right now !!
Look at CNN headlines: “take profits on tech stocks before we fall off a cliff”.
These are NOT headlines that you encounter at tops !!
I think we are not done yet with the bull: neither in cryptos nor in equities !!