Who's Gonna Ride The Bull Till The End?!

China's tech giants like Alibaba's Ant Group are pushing the central bank to authorize Yuan-based stablecoins to counter the growing dominance of USD stablecoins, and the battle is heating up...

I’ve written on this blog plenty of times over the years that, at some point in the future (which is now the present), we’d see a clash between countries racing to adopt cryptocurrency and blockchain tech en masse. And guess what?

The show’s finally kicking off.America’s once again positioned itself pretty damn well in this race, holding close to 2 million Bitcoin across private corporations and the government. I doubt the hoarding season’s ending anytime soon.

From what BlackRock’s showing us in the crypto amassing game, it looks like high-net-worth individuals buying BTC through ETFs are unstoppable.Without those ETFs, I doubt Bitcoin would be sitting at $110,000 right now. It’s also why altcoins are eating dirt.

Institutions are mostly gobbling up Bitcoin, leaving shitcoins to suffer big time.It’s hilarious looking back at the bullshit some so-called influencers were spewing on Twitter just a few months ago, hyping up an altcoin season like it was a done deal.

Some were even pushing a meme coin supercycle, trying to convince themselves and their followers that memecoins would survive the blow-off top.Not a chance in hell... Once BTC dominance drops to 60% or lower, maybe meme coins will have a shot at outperformance. Until then, they’re a risky bet.

I hold some meme coins myself ‘cause I’ve seen what they can do when BTC broke its 2021 ATHs, but I wouldn’t sink much trust or cash into those coins.Retail investors are so MIA this bull market, and if they jump back in, it’ll be with haste right near the top, as usual...

When’s the top coming? Probably by the end of the year, sometime... The market’s convinced most investors that the four-year cycles are dead, and you know what happens when the majority’s convinced of something...

I’m personally scaling out of my small positions in Q4 this year because I don’t want to be stuck holding bags in the next bear market like I did in the last two cycles. Why’s a bear market likely next year? Simple as hell...What goes up must come down, and crypto’s no exception.

The S&P 500 just smashed its previous ATHs the other day, and who knows... Maybe it’ll hit 6,900 points. If that happens, BTC could climb to something like $200,000, and alts might finally make us some cash.Nothing’s certain, though, and DCA is the best strategy to play it safe... That’s about it from my end. Have a great day and catch you all next time.

Thanks for your attention,
Adrian