Thomas Holland
United States
1y
Hello Everyone, I hope you are having a great day. It's definitely taken longer than everyone expected, but 29 weeks after the halving event, we have once again broken to new all-time highs. It appears that a new all-time high happening before the halving ended up locking us into a range instead of kicking off the bull market like it usually does. With the election uncertainty and the stock markets jumping, crypto has broken out, with Bitcoin in the lead as usual. We have been seeing consistent bank adoption via the building of new crypto-friendly infrastructure as well as direct investments, but it's nice to finally see the price reflect that demand. Of course, even with it jumping $ 20k in under two weeks, I would caution everyone to be wary of a pullback. Bitcoin this early in a bull run is extremely unpredictable, so you don't want to overextend yourself and miss out on the rest of the run. With all the new information we have to work with from the past couple of months, I plan to update the strategy document, the price predictions I could see happening, and our planned areas to take profits. I will share a summarized version of this information on Etoro as usual but overall there aren't any crazy changes. I still plan to sell based on the the past information we have to work with using time-based as well as price-based metrics & to reinvest once we see another bear market in the future. If Bitcoin continues with this momentum, I expect the rest of crypto to follow along, but as always, we will have to wait and see how it decides to surprise us next. A different topic I wanted to address outside of crypto prices is Etoro's recent announcements for the US. Within the past several months, they have paused PI payments and have phased out the ability to buy certain cryptocurrencies due to pressure from the SEC. Regarding the PI program changes, I plan to continue being active and doing the same strategies as before, even while the program is paused in the US. Regardless of the PI program for the US being reopened or closed down I appreciate Etoro providing me this platform to share my thoughts and to invest along with all of you. Regarding the phasing out of the ability to buy specific cryptocurrencies and the discontinuation of direct holding on Etoro in March, it's likely due to crypto not having its bull run on its usual schedule and the SEC putting pressure on companies regarding crypto. Now that it's shooting up, if it sustains this momentum, I am hopeful they will re-add them to help drive more users to sign up and join us here on Etoro. In short, the risk to reward wasn't worth it, but with crypto shooting up, it might change to be worth it again. If they keep the March date for removing certain assets, I will post an announcement closer to that date. I will continue to make posts, although I will likely do them on an as-needed basis. However, if anyone has questions or concerns, I am always happy to chat in the comments.
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