Riding the Crypto Rocket — Are You HODLing?!! 🚀
Hey Friends,
Hope you’re ready for an exhilarating update from our end! Strap in, because we’re about to dive into the crypto universe post two weeks of intense travel, attending the MtnDao and EthDenver conferences. Here’s the lowdown:
MtnDao: A month-long builder house where blockchain companies and founders converged, resulting in over 200 attendees and the birth of 20 new companies. The collaborative spirit was palpable, setting the stage for exciting developments.
EthDenver: North America’s largest annual Ethereum conference witnessed triple the attendance from the previous year, indicating the exponential growth and interest in the crypto space.
Key Takeaways:
- Market Interest Surging: The excitement is palpable as prices surge, signaling the return of the bull market. Repetitive themes from previous cycles persist, alongside new narratives like DePin, increased traditional finance (TradFi) to crypto options, AI+Blockchain, decentralized computing, and storage.
- February’s Historic BTC Surge: February marked the fastest price increase in BTC in a single month, with six consecutive months of closure. The driving force? The BTC ETF, accumulating a staggering $10B in BTC in under two months. Traditional finance is catching on, and retail investors are flooding back.
TRADFI Pushing BTC like
3. Retail FOMO and Global Impact: Retail investors are back with a vengeance, causing such a surge that it overwhelmed Coinbase for half a day. For non-US investors, especially those with inflation higher than the US, BTC is hitting constant all-time highs in their currency.
Where to Next? Entering uncharted territory, altcoins are still below their all-time highs. With BTC experiencing a supply crunch and demand soaring, we’re in for an exciting ride. Our strategy moving forward:
- Strategic Selling and Redeployment: We’ve strategically sold during the rally and will redeploy capital during any significant sell-off. Despite the rapid surge, there hasn’t been a notable BTC sell-off in the last four weeks.
2. Altcoins and Room to Run: Adding to alternative cryptocurrencies that have more room to grow, recognizing that BTC might lag in the near term.
3. Technical Analysis-Driven Decisions: Employing technical analysis to inform our decision-making process and navigating the crypto landscape strategically.
We’re navigating this crypto rocket with caution and excitement. As always, feel free to reach out with any questions or insights.
Hold tight, and let’s ride this crypto rocket together!
Best regards,
EBlock Capital Team
