Reminder, Bitcoin is the only crypto that I encourage long-term holding because it’s a beacon of store of value.
Yes, I believe in Ravencoin (RVN) as a blockchain for the future of asset tokenization. But I’m not suggesting you “trade” RVN. I encourage understanding Ravencoin and using the blockchain to tokenize assets.
That being said, everything but Bitcoin has a chance to go much higher in short-order. Yes, Bitcoin will go higher as well. Most likely post 2/8/25 as mentioned in my last blog post.
But, other tokens may very well outperform.
The USD looks to have topped and bounced off support. If the USD breaks this support and heads lower, liquidity will increase.
But altcoins or sh*tcoins usually outperform once the ISM break above 50. That could very well occur with January’s release in early February.
And if the ISM breaks above 50 and heads higher that will move folks out the risk curve. While Bitcoin will go higher, Bitcoin Dominance (% of total crypto market cap in Bitcoin) looks to be topping a corrective wave and ready to head lower.
Translation: Everything starts going up post 2/8/25 BUT sh*tcoins may outperform Bitcoin. And I’m specifically looking at ETH. If you go on X, everyone is bearish ETH. You’d think ETH is dead.
But I think ETH is about to shoot up towards all-time highs.
If this plays out, I could see that all-time acting as resistance and the end of a 5-wave rally. But that rally would just be Wave 1 in a larger rally for this cycle. This means a correction back to the red support line. Remember, prior resistance becomes support once the resistance is broken.
And after that correction, we would be setting up for a HUGE wave 3 that busts to new all-time highs.
Are your bags packed? Mine are.
Not financial advice, a view into how I look at markets. Enjoy!