Aside from Hive and some shitcoins doing unreal pumps, the market seems to be in a blocked pendulum for some time. It neither goes up nor down. It doesn't seem to be stuck up or down either. It's somehow situated at a neutral point. At just about the peak of 2017. Interesting level to be accumulating IMO.
I mentioned in a few posts this week that I started following some new individuals on Twitter and these folks are very bullish right now... I guess it's a bias that made me follow them. All of them come daily with all sorts of charts and metrics to support the narrative that the accumulation period is over and we might be right at the dawn before the trend changes.
XRP could be the only bag you should own for the next bull market... That's what one of them was tweeting a few good hours ago before I got to sleep. I would disagree on this one. Although XRP might do good if it wins the case against the SEC, I doubt it will impact its price on the bullish side of things that strong.
HIVE has had quite an acid Saturday. The Koreans have indulged in manipulating the price once again in such an aggressive manner. It took HIVE literally a couple of hours to go from $0.49 to $0.68 and the volume on the HIVE/KRW pair on Upbit was insane.
So, the bull market is a given, I guess... The bear market was a given, too, although I refused to believe that for many good months. What happens when the next bull market comes, how to play it, what to do with the money, that's been on my mind lately...
@empoderat commented on a tweet of mine a few days ago by saying that the best time to be selling in the next bull cycle would be sometime in 2025. The halving will occur in spring 2024 and it will take BTC and the rest of the altcoins something between half a year to a year before bubbling enough to be burst by the profits taking pin.
I guess I'm going to play the game right this time. Some good months ago, I had an exchange of comments with @edicted and he argued that the halving has any relevance anymore to the bull cycles and the reasoning for that being liquidity. There's much more liquidity now than there used to be back in 2014-2016 to make the shrinking in mining rewards matter that much.
The man has a point, but I believe these cycles to be still repeating the halving patterns mostly due to the psychology of the crypto market and not that much to the numbers. So, what do we do with the bull market? Well, isn't it a bit premature to talk about that? Yes and no...
It is premature to even think of it before we have a clear change in trends, but at the same time, you gotta have a plan. My plan is to stick with staking the large majority of my "off Hive" assets until like around the halving and gradually selling them after the event occurs. I had a pretty similar strategy in the previous cycle as well, but haven't really respected it, thus I cashed in little to fewer profits.
I believe I'm a bit more salted now and that's why I'm making plans with the money I don't even own yet... :). Yeah, I was thinking about what will I do with the cash I'm going to make during the next bull market and I got a bunch of plans already. First of all, something like 25% goes into HBD savings, so I can make more dollars to have when the buying spree once again kicks in.
I have "two palpable" destinations for a good amount of cash as well. So, in case I get to decent amounts of over $100,000 in profits I'm a buy myself a piece of land. That never goes down in value. Not much, but I feel like having to own some... I really own shit on this planet and I don't want to be that guy who got screwed by Klaus Schwab into owning nothing and being happy about it :).
That's for $100k+ profits. If these go to insane levels of $300k+ or something like that, then I'm thinking to pay someone to make me an app. I don't know how to code, but I have some ideas that would make for a good and successful mobile app. Stay tuned for the details of this thing cuz that's about it for now. I hope everyone is having a fantastic Sunday and see you next time.
Thanks for your attention,
Adrian