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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
WARNING: This entry is 550 days old. It may contain broken links, out-dated or misleading content. Please read on with caution.

1 POST Hot pick for 2023 - 2
hot-pick-for-2023--2This 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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ETH



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Investing Quote...

..."I did not know then what I learned later, what made me fifteen years later, wait two long weeks and see a stock on which I was very bullish go up thirty points before I felt that it was safe to buy it. I was broke and was trying to get back, and so I waited. That was in 1915."...

Jesse Livermore


.."A businessman cannot force you to buy his product; if he makes a mistake, he suffers the consequences; if he fails, he takes the loss. If bureaucrat makes a mistake, you suffer the consequences; if he fails, he passes the loss on to you"..


Ayn Rand

..“I buy on the assumption they could close the market the next day and not reopen it for five years” and “Much success can be attributed to inactivity. Most investors cannot resist the temptation to constantly buy and sell.”..

Warren Buffet


.."I never found beauty in the longing for the impossible and never found the possible to be beyond my reach"...


Ayn Rand

..“One must search through a maze of complex and contradictory details to get to the significant facts … Then he must be able to operate coldly, clearly, and skilfully on the basis of those facts.” The challenge for the successful speculator is “how to disentangle the cold hard facts from the rather warm feelings of the people dealing with the facts.” Moreover, “if you get all the facts, your judgment can be right; if you don’t get all the facts, it can’t be right”...

Bernard Baruch




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