Post 3/3
The second thing we should talk about is the global liquidity, which looks to be on the increase already. The leading country in this aspect is China, the Public Bank of China has announced huge aid to the stock market in the form of 500 billion RMB, with a possibility of 500 more, to which the market has responded very favorably.
The third thing are the elections in the US, this is in our eyes the primary reason as to why the crypto market has not moved to new all time high as SPX did. There is uncertainty regarding who will get elected, our current view is that if Trump wins it is good for crypto in general and if Harris wins it would be good for $BTC, but not so much for alts, what will actually happen remains to be seen. SEC has had a very aggressive and negative approach towards alts in the past couple of years, which is expected to change if Trump wins. Generally the election year is very positive for the markets and YTD the stock market has performed the best out of any year in the 21st century, unfortunately for us crypto has not been doing so hot so far.
We could say this is the longest consolidation (which is quite painful to go through in the bull market) we have ever had in a crypto bull market, normally they are much shorter at least as far as $BTC goes, the alts normally underperform in these periods. Our thesis still remains the same, we are still expecting a "blow-off" top, probably some time in the next year and our expectations are that the altcoins will outperform Bitcoin, that is why our portfolio is positioned in the way it is, we still primarily believe in $INJ, one of the examples why is because it has had higher revenue in Q3 than giants such as $BNB chain and $AVAX.
As long as we stay in this consolidation do not expect many updates from us, but we are constantly monitoring the market as you can see from this long post and we are ready to be more active as things start moving faster once again.
