Took profits from $TIA and $RUNE. Loaded up on $SOL and $NEO as they look ready for a big move. $ETH has a lot of lost ground against $BTC to make up for but we still think our alts will outperform ETH.
Bitcoin is the first and most popular digital currency - a cryptocurrency. It powers a peer-to-peer network for the exchange of value through the use of a decentralized protocol. The idea behind Bitcoin is to have a system where there is no middleman or central authority.
Bitcoin refers to both the software protocol as well as to the digital asset, which goes by the ticker symbol BTC. At its most basic level, Bitcoin is useful for transacting value outside the traditional financial system. You can buy and sell BTC for other cryptos alongside more traditional currencies at crypto exchanges like Binance, Kraken and Bitstamp.
Satoshi Nakamoto, a mysterious person (or group of people), launched Bitcoin in 2009. What sets it apart is that it's completely decentralized, meaning no single entity controls it. Instead, a network of computers, known as miners, maintains and validates transactions.
Bitcoin mining creates new bitcoins in the form of block rewards. The process verifies transactions on the blockchain. Miners earn Bitcoin as a reward for completing "blocks" of verified transactions and adding them to the blockchain.
It has a maximum total supply of 21 million, which means that there can only be 21 million in circulation. However, the number of issued Bitcoins will likely never reach 21 million. That is because of the use of rounding operators in the codebase.
You can break a single Bitcoin down into 100 million tiny pieces called "satoshis." You can store them in a digital wallet.
You can send parts of a Bitcoin to pay for things. You can also trade it for other crypto assets. But when you dig into the technicalities, it's like peeling an onion—layer after layer of complexity.
All Bitcoin transactions happen on a blockchain. Think of it as a public digital ledger that everyone can see but no one can tamper with. Miners are the ones who validate and secure these transactions. They validate transactions by solving complex math problems and receive new bitcoins as a reward for their efforts.
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We've bet heavyly on $ETH following $BTC in this strong upmove. Although we were slightly too early in that trade, we see signs that the tide is turning and it's time for The Queen to run. Today the $BTC value of $ETH shot up from the supportzone and shows relative strength. $ETH is above resistance at 2.1k as well and consolidated above that resistance. We think we are very early in the $ETH trade.
With our 30% in $ETH and 7.5% in $LDO we are well positioned for an $ETH rally. We are only 15% in $BTC right now because we are selling our $BTC in this strenght. Should $BTC push to 48k, we would even lower it to 10% but we will never go below ten percent.
Once $ETH and the alts take over, this aggressive positioning could pay-off massively. We will take those alt-profits back to $BTC (and maybe to $PAXG and a stblecoin as well, when market become overheated.).
For now we stay 100% in the markets, enjoying the bullrun.
In previous bull markets for crypto we saw money first flowing to Bitcoin, then Ethereum and after that ALTS, let's hope and see if history repeats or at least rihmes.
So first of thank you all who kept faith in me when things went south.
We made some decent effort with $RUNE and we are now using some of that profit to diverse and become less dependant on one sole asset.
I will keep $RUNE as the base and build around with a mix of $BTC $ETH together with some alts. The rebalancing will be done once or maybe two times per month, depending on the development of the market.
Take care and stay safe!
Another reason why I think this rally has legs is that whales with 10k $BTC #Bitcoin or more are accumulating again.
In the past two weeks or so, they started to distribute slightly when #Bitcoin was hovering at $38,000.
The market is now making them buy higher.
Bitcoin (BTC) price history shows the highest value of 58,171.85 EUR . We recorded this price on November 9, 2021, but we cannot exclude that a higher price was registered before May 19, 2017.