What you NEED TO KNOW!
WE ARE IN A BUBBLE FOLKS.
For anyone not willing to accept reality, dont read further.
Things to note.
FOMC minutes were neutral- slightly bad for crypto, the market pump from last week was because of a possible cut in September(its priced in), the minutes kept that as the likely outcome(60%) but also showed many are still willing to increase rates and there are MANY concerns regarding inflation.
THE $ETH ETF approval is a political move by Joe Biden, it is not going to lead to hundreds of Billions in NEW capital entering Crypto( it will likely start ALT season).
Joe Biden is behind in the polls, Joe Biden appointed Gary Gensler, The SEC chair, Joe Biden has seen Trumps recent moves as "Pro" Crypto and knows he NEEDS the Crypto votes.
In Swing(battleground) states that decide elections,20% of voters believe Crypto policy will be a KEY factor in this years election.
Joe Biden needs an urgent pro Crypto move and the ETF is that.
Why do i say we are in a bubble??
Firstly many bubbles inflate futher before they POP, we have thousands of Crypto tokens valued from Millions-Billions that are garbage and a massive sweep NEEDS to happen.
With financial uncertainty where it is, the election coming and the over-valuation of many Crypto projects you need to be smart.
If you want to enter now,hold secure,high circulating supply projects that can weather a LARGE storm.
I would also advise if we see a further ALT pumps in the next month(30%+) based on ETH approval Fomo, you should take 80% profits on everything,besides BTC,BNB,ETH and SOL and wait a while,
The Crypto market for the next months will be in the hands of what a few men in America say- Biden, Trump, Powell and Gensler.
I personally dont want my portfolio in their hands!
If you enjoy what i write please follow,like.
It takes time,effort to post and not just copy-paste or post garbage like 90% of square seems to do.
Peace