MARKET BIBLE

🟡Restructing of The Portfolio🟡

As the BTC and especially ETH coins are overstretched to the upside, we will be restructing the portfoilo to USDT - stable coin until price of ETH retraces back into range of about 2680$ - 2790$.

When it retraces, we will be again in the market with the previous portfolio looking for the next valid push to the upside.

🟢BITCOIN ETF AND THE RESTRUCTURING OF OUR STRATEGY🟢

With the aprpoval of the BTC ETF, the big money (hedge funds, big institutions) have taken some profits from the rally in regards to the news and I am expecting the price of BTC to correct to the downside. As we are investing like the big institutions, we are not FOMO chasing the market retail movement.

These big players have profited from the BTC ETF approval, so we will be restructuring our strategy to downsize our position in BTC for about 50% and raising our position in ETH for 50%.

In the upcoming approval of ETH ETF, I am expecting to profit in the next months from the rising price of ETH and other alt coins.

Our position in BTC will still remain about 30%.

Have a great weekend.

🔴BREAKING: BULLISH BTC 🔴

Bitcoin rose sharply to a 21-month high today on Tuesday 2nd of January on increased speculation that the U.S. Securities and Exchange Commission was close to approving a spot exchange traded fund (ETF) for the world’s largest cryptocurrency.

By 05:05 ET, Bitcoin had jumped by 7.0% to $45,630.9, reaching its highest level since early-April 2022.

The increase came as an extension of a strong recovery in 2023 for Bitcoin, when the token surged more than 100% in value after starting the year at around $17,000.

Partly driving the gains was speculation over the SEC's approval of an ETF that directly tracks Bitcoin's prices. The regulator has a January 10 deadline to approve or reject a spot ETF application from Ark and 21 Shares, according to a Reuters report. The ruling could set the precedent for ETF applications from several other fund managers for a similar product.

JP Morgan Crypto Update: Ether could overtake Bitcoin in terms of profitability.

Ether, the second cryptocurrency by market capitalization, could overtake bitcoin in growth in 2024 and increase its market share. JP Morgan analysts are predicting an upcoming ethereum network upgrade called protodanksharding or EIP-4844. This improvement is expected to lower costs and increase the speed of transactions.

"While we are bullish on the overall cryptocurrency market in 2024, we predict Ether will overtake Bitcoin and other cryptocurrencies with the support of network upgrades," JP Morgan analysts said.

At the end of the week, Ether was worth around 2,250 US dollars, and since the beginning of the year it has gained a good 87%.

The price of Bitcoin, however, has risen by more than 150% this year, to $42,500. According to JP Morgan analysts, after the halving of Bitcoin in April next year, the value will most likely fall towards $35,000.

Wishing everybody a successful week!