Sunday morning edit: Elon Musk's appearance last night on Saturday Night Live goes to show just how mainstream cryptocurrency is becoming, it is THE topic on social media as well as major news' stories across online news outlets across a wide spectrum of political leanings. It is not what he said about Dogecoin or crypto in general, or how the former reacted to his comments ("crashing" to where it was trading just one week ago), but the fact that entire generation, or two, or three, are this morning reading, discussing and tweeting about it. I wrote the rest of this Weekend Update yesterday, before Musk's appearance on SNL. -------------------------------------------------------------------------- "Bitcoin will dominate the 21st century, it has zero threats to existence" --Michael Saylor, CEO Microstrategy (MSTR) "Bitcoin is the fastest growing, most disruptive force in the world right now, objectively speaking. It went from $0 – $1 trillion in 12 years. That makes it the most disruptive tech in your lifetime, in my lifetime – more disruptive than Amazon, Apple, Facebook and Google, more disruptive than anything in our lifetime.” As a trading service we have been moving more and more into the cryptocurrency space. That is where the money is, as well as the big tradable, rewarding and highly leveraged trends. That has been the stock market for the past up-teen years, but there is a new kid on the block, we see it, feel it and are climbing on it. When the Nasdaq, S&P and Russell show the same kind of strength, probably to the downside, we will be on that as well. But for now, the elephant in the room is crypto. The YTD numbers don't lie and if I went back 12 to 18 months it would be even more striking: Year-to-Date Returns DJIA: +14% SP 500: +12% Nasdaq: +7% Russell 2000: +15% Bitcoin: +115% GBTC +50% Ethereum: +400% ETHE: +120% VeChain (VET): +1,000% Dogecoin (DOGE): +14,000% Trading/Investing in Bitcoin, Ethereum or its proxies, is no longer a fad nor an anomaly. It is a transitional, multi-generational relocation of trading and investment opportunity. The key take-away from our early adoption in our trading models is that it is EARLY, so much so that a simple buy and hold strategy will work, if you have patience and enough years left to reach your financial goals. For a quicker and more exhilarating journey we have more traditional trading tools, stair-steps that will maximize leverage and uncover the VET's and DOGE's still embryonic in their development. We are old school, yes, but with a new curriculum from which to learn...and prosper. CHARTS The takeaway from these Intermediate Term charts based upon Daily price bars is how well and how long these trends can run. The main trend sets the stage for shorter-term entries based on lower time frame charts. Not shown because I have run out of time are the miners, MARA and RIOT in particular, that provide option-enabled hedges for periodic counter-trends. More on those in future updates. Dogecoin Vechain Bitcoin Ethereum
