What is going to happen next?
The Crypto Bear Will Continue We have seen the rise of crypto millionaires and even crypto billionaires over the last several years. We have seen one of the greatest bull markets in history and it was that bull market that created the millionaires and billionaires. Good for them! But will the big bull continue or are we now in a Big Bear? I believe that you can decide crypto into two categories: tokens or platforms. Bitcoin would be the best example of a count or token and Ethereum would be the best example of a platform. Bitcoin is purported to be a new currency. But what is backing it? Air. Just like US dollars. They both have their pros and cons but US dollars have two key advantages: they are widely accepted as money and governments can easily ban or regulate crypto and put crypto out of business like they did in China. But platforms, like Ethereum or Solana, actually have some underlying value. They are a platform where people can use them to create value in society. For example, Ethereum can be used to create things like smart contracts. So, over the long run, platforms will live while many, if not most, coins will fail. I believe we are in a bear market in crypto. Here's why. | |
The reasons why include: - ETF outflows. See chart above.
- High correlation with NASDAQ which will be in a bear market for roughly a year
- People are tired of being burned by hacking, high transaction costs, and crime.
There are other bearish reasons and even some bullish reasons but I believe the weight of evidence is currently bearish. The chart above shows the sharp decline in flows into/out of crypto ETFs. Money is now flowing out of crypto ETFs which means that the ETFs must be sellers of crypto. All the early adopters of crypto have bought but now there are new sellers in the market. Another problem is that crypto has just become the lapdog of the NASDAQ. The correlation is over 80%. Why? Now we come to one of the biggest problems with crypto. The massive bull market over the last couple of years was fueled by incredible Fed easing combined with FOMO times greed. All of these factors are now reverses and fear is now bigger than greed. Yes, the true believers will hang on. In fact, the bear market will be over when we start to see some true believers panic sell. The final reason is that people perceive that investing in crypto is dangerous. Every week is another story of hundreds of millions of dollars being hacked or stolen. That is freezing out a lot of people from buying crypto. Why take the risk? People need the money to support their lives now not speculate in houses, stocks, or crypto. So how do we make money? | |
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There are several ways: - Probably the easiest is to simply short sell crypto on a crypto exchange like FTX.com (here is my affiliate link).
- You can also short the ETFs
- You can short the futures market in Bitcoin.
We will be launching a new advisory service called the Crypto Navigator in the near future. I'm not sure but I think we might be the only advisory service that will make money on the downside of crypto. All other advisories are true believers and only buy crypto which means they are losing massive amounts of money right now. We will be very different from the true believers. Our job is to make money not pound the crypto Bible. Click here to learn more about Wall Street Winners. Click here to learn more about the Stock Navigator and to apply to join. Thanks! Good crypto trading, Courtney Smith | |
Words To Live By "The facts are unimportant. It's what they are perceived to be that determines the course of events. - Earl Hadady. Bullish Consensus | |
 | COURTNEY SMITH
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