There are no significant changes in the market. Bitcoin pushed off from 60600 and slowly went up, now around 63K. Movement range for the last 24 hours - 60630-63429
Market capitalization is also practically the same - 2.27 trillion. But the Bitcoin dominance index dropped to 54.73% - alts gradually began to shoot out. So far, very selective, and not the largest, but the movement always begins like that. Next will be either memes or alts related to AI. And then it will come to Ethereum with affiliated assets.
Yesterday, labor market data came out stronger than expected, which is bad for the markets. But the background market digested this and even grew (the S&P 500 was up 0.51%). Because more and more market participants are realizing that the Fed has no alternative to the imminent rate cut and the start of money generation.
Important news today will include data on inflation expectations in the US (17-00 Moscow time).
Currently, bond yields are falling and S&P 500 futures are rising.
Bitcoin has been in the small range of 60600-65450 for almost a week now, where it has returned after briefly falling below 60K.
And the main cryptocurrency has been in the range of 56600-73777 since the end of February this year.
The output will be powerful, of course. But first we need to gain a foothold above 65500. Going away for the weekend with Bitcoin above 63500 is a more modest task, but very useful for the growth of alts right now.
The priority option for today is Bitcoin in a range with a lower limit at 60500-60000 and an upper limit at 65000-65500
Alternative - fixation above 65500
1. The purchasing power of the dollar is falling rapidly. The increase in real estate prices over the past 10 years is not so much an increase in real estate as a decrease in the value of the dollar relative to other assets.
If we take the cost of cars, for example, the picture will be even brighter. 10 years ago a car for $100K was really TOP. Now for $100K you can get just a normal car. TOP is already closer to $200K
The price of gold has approximately doubled over the past 10 years. Why do you think?
2. Bitcoin is an order of magnitude more efficient than other assets due to the effect of a low base and small capitalization. In the future, there will no longer be growth of thousands of percent, but Bitcoin will continue to overtake all other assets at a distance. Because its supply is incomparably less than the supply of any other investment asset.
3. Buying real estate instead of Bitcoin is a fatal mistake. Alas, I made it myself. For the money I spent in 2011-2013 on real estate and cars, I could have bought 7000-8000 Bitcoins. Now it would be more than 500 million dollars. I specially calculated it recently in order to once again understand the cost of the mistake and the reasons that led to it.
BUT identifying an error (and most importantly, the reasons that led to it) means preventing its repetition in the future. But there are opportunities right now, and there will be more.
