The full post is available to paid members — enjoy a free preview of today’s content! Bitcoin bounces hard: TBL Liquidity update and bitcoin's bull market stageIncluding the biggest, most under-the-radar news of the year for the orange coin.
Dear Readers, Are you enjoying the volatility? I’m going to be honest, and I hope it’s not rude, but if you aren’t, I’m not sure what you’re doing here. Investing in bitcoin is not for the faint of heart, and it certainly isn’t for those wishing for a calm, slow, and steady financial ride. When people wonder why bitcoin has such large swings, the most obvious explanation is probably the correct one—if an asset goes from an academic cryptography paper to a $10 trillion asset (currently $1 trillion), would you expect the ascent to be stair-like, or instead something you might experience at Six Flags? The correct answer is the roller coaster because the reality is that no amount of steady climb can result in annual gains bordering on 1,000%. That also means select annual losses will be extreme, and days can wipe out an entire year. Even if you’ve already accepted the above, technical levels are worth integrating, even if it is only for peace of mind. Some of you are actively trading, but many are just trying to appropriately stack and not get shaken out. Levels help. We’ll also touch on rates, the Fed, and bring you an important update on our TBL Liquidity indicator, which is proving to have some predictive power.
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Thursday, August 8, 2024
Bitcoin bounces hard: TBL Liquidity update and bitcoin's bull market stage
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