Greed. It's here, and it's high. Now I'm not necessarily suffering from 'greed', but wondering where that great trade will be in such volatility. What goes up, must come down. Although we have seen unprecedent highs in the stock market. Perhaps you can see that enthusiasm power BTC purchases as well.
Where I want to go is for ETH value to pump in relation to the value of BTC. Then again I sometimes need to use FIAT and who knows how much tax will be included.
I'm now in the market chasing those Satoshi's. Marketcap in USD matter, but not my foremost goal.
Perhaps Fiat is being sucked into this system, it can quickly get flushed into someone else's pocket. A seasoned crypto HODLer knows the pumps and dumps. Things have been pumping HARD.
Excuse this crude channel I have drawn. ETH was holding at around 0.03 BTC up until recently. There are some pundits I listen too that say take your ETH and buy up that BTC because the gains will be 'more' in comparison (but not yet). Now whether this will happen will be be tested soon enough. There's a very good chance there's that head and shoulders followed by a huge spike ETH/BTC! This is of course if ETH can repeat the 1.2 K USD high. I think there's a very strong chance can happen.
So I'm not chasing fiat. I'm chasing extra sat's which my ETH may be able to accomplish. I don't think I have enough firepower in ETH to get me the proper yield converting into BTC pumps
We can guess what month this cross is at. Yup.. and what's very interesting is the divergence of USD and BTC. I noticed this little cool anomaly of a 'bear BTC trend'. I circled the other time there was a slight divergence which initially had a down trend with FIAT and then it trailed.
Looks like world events have changed the fiat and crypto markets. Look how BTC price vs fiat have diverged. Very interesting indeed. There is a very strong appetite for BTC; but this does not mean interest in ETH will wain. Think of institutional money. If you buy millions worth of an asset wouldn't you think there's a 'team' that handles an asset? Especially with the history of crypto. Is it all in long term cold storage not moving for years?
There's a lot to ponder as the only issue with BTC is it's history. There isn't that much to go on. What do you guy's think? 30K BTC dump? Move into alt season? Is alt season as credible with all of this new money fighting the speculative positions? There's actually a lot to ponder. Sorry for the crude less than technical charting. I'm doing my best as a lamen.