To me the most difficult part mentally in investing in #bitcoin is not going through the mid cycle correction we just had (it is an easy buy), but to watch #btc pumping higher and thinking: f*** i’ve never seen such returns in any asset class - maybe it’s time to cash smth out?
TOMORROW I'm speaking to a power center of #tradfi, Bretton Woods Committee, abt #Bitcoin /#crypto. I'm joining Eric Rosengren (until recently head of Boston Fed, which is running Fed's #CBDC study w/ MIT), Bill Dudley (ex-NYFed)+more. Video avail afterward! #BWCdigitalcurrencies
1/4 An active market needs volume to sustain growth. Likewise, every #BTC transaction sees a buyer committing value to the network.
When we compare the dollar amount of coins transferred daily to the value stored in the ledger, it can indicate shifts in macro market conditions.
Pay attention to City surprise index. Labor market slowing down + soon paychecks are running out. Seems #FederalReserve might be wrong with its forecast for growth and #inflation. No taper + more stimulus? #btc to the moon
Federal Reserve Bank of St. Louis President James Bullard says surging inflation could be creating a new pricing psychology where both businesses and consumers are getting used to rising prices trib.al/nLQOjTA
So now everyone recalled that #facebook is not only profit making business and “cutting edge technological company”, but a thing that can be just shutdown. Some tail risks, or arrogance of tech focused investors?
Even if we do get a bullrun, have an exit plan. Most dont, they see the unrealised p/l, huge gains but bank nothing. Many did that multiple times. Greed is powerful, its in our nature. Have a proper plan!