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Created on: 1/12/2023 1:17:33 PM Last Update: 1/12/2023 1:33:58 PM Posted by: RTT
1 POST
Hot pick for 2023 - 2
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This is pick number 2. It is number 2 as the volatility is extreme and a new low is not off the table.
Ethereum is likely to recover off its lows, however unlikely to make new highs in 2023.
Some points:
- Both Bitcoin and Ethereum are managing supply shocks (BTC - MT Cox coin release, ETH - Stacking release post merge) to ensure price recovers.
- Big down moves end on big bad news, the FTX crash should be the bad news to end the crypto sell off (well pending).
- New liquidity is arriving to world markets via the Chinese re opening and a lower US dollar.
- The FED's balance sheet reduction is being offset by the Dept of Treasury (Yellen) use of the TGA account.
- The reduction of world wealth via Bonds, Crypto, World Stock markets is near $30 trillion USD, the damage has been done to lower inflation concerns. The inflation fix is working.
- The greatest pain trade is for sold off risk on markets to recover.
- The US has a balance of payments issue in 2023, who will buy excess USTs. The FED of course!
Chart ETH - Notice how $ETH moves between green channel support and resistance lines.
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Changes in the world is the source of all market moves, to catch and ride the change we believe a combination
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Investing Quote...
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Pericles
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Warren Buffett
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