In the past, I just dabbled with Crypto’s, just day trading a little here and there, attending events, mingling with traders etc. This led to being offered a trial as a trader, which I declined. Back in 2016-17 there was copious amounts of hype, but I always thought that Bitcoin would eventually be banned, so there’s no reason to spend too much time on it. Even after interviewing Jeff Booth on my channel, it didn’t seem like a viable option to me.
Things have changed…
Our options have drastically reduced. The government has proven that it’s more foe than friend and the geopolitical situation is a tinder box waiting to explode. Unless you have strong roots in this country, that restrict your movement, it’s time to start thinking about being more mobile.
Totalitarianism has crept into every aspect of our lives :
- Everything we do online
- Our bank accounts, every transaction we make
- The government is telling us what exactly we can and cannot do
Now there’s signs that ”thought crimes” will start to be enforced. this is all related to the slow decline in the economy. Becoming a prepared ”economic refugee” seems like the most alluring option for myself at the moment.
The Government Can Ban Bitcoin
This is a serious probability in the near future, like everything in life, there’s no guarantees. One option, is to buy an offline crypto wallet. Yup, that means you will be holding a large percentage of your wealth in your pocket. But, I’d argue at this point that keeping everything in the bank is slightly more risky.
The Bitcoin Price Is Volatile
What has happened over the last 5 years has been younger generations looking for a way out of the feudal system the boomers have trapped us in.
Swing trading is the best strategy, which means buy low, sell high. Unfortunately, finding the bottom and top is more difficult than you might think. Also, technical analysis will only show a small fraction of the money flows. Watch each swing, then monitor what social media and the main stream media is saying, to figure out each end of the swing.
The Next Bitcoin Bottom, I’m All In
We are currently hovering around 45 to 50 BTC/BUSD after hitting highs around 60k plus recently. I remember the end of 2017 when Bitcoin hit outrageous highs of 15k to 19k. I’ve noticed that every 1.5 years or more on average, Bitcoin would hit a top, bottom and top again (full cycle).
We’ve just hit a top, which means that if Bitcoin continues with it’s usual cycle, we’ll hit a bottom before march 2022 or sooner. When it happens, I’ll be all in.
Where’s The Next Bitcoin Bottom?
It’s difficult to say, I’m hoping for under 10k, but that seems very unlikely. Perhaps under 20k could be worth it, at this time, considering all the turmoil in the world at the moment.
Don’t Day Trade Bitcoin
Well, this goes for everything. Day trading doesn’t work for 99% of traders and with every other strategy of trading combined, less than 2% of all traders make a profit.
What’s My Trading Strategy For The Next Bitcoin Cycle?
While we are hovering around 45k, the main stream media is pumping bitcoin and everyone is talking about it too. This means it’s on it’s way out. The crypto market is full of ”fomo” traders who will lose most of their money over the coming 6 months. Simultaneously we have ”hodl” traders who will hold on to Bitcoin all the way to the next bottom. In my opinion, swing trading is by far the best strategy.
If you want to join a paid telegram group, with a friend of mine, who made over 400k last year trading, I can hook you up. But it’s expensive. DM me if you are interested.
Here’s a list of other articles I recommend on Bitcoin and Cryptocurrency:
