Although Cryptos including Bitcoin is rising I’ve been noticing a very interesting trend on certain forums I read on Facebook and Twitter. One poster asking if he should buy a new graphics card with his payment was advised to “BUY BTC”.
Could it be, I’m musing here, that more Americans are considering using their payments at least in part to invest in cryptocurrency and other devices. This could decrease the power of the Bitcoin whales and hedge funds. As proven with Gamestop, the time of the institutional trader is coming to an end. The time of the retail trader may be upon us. It could be that the algorithms used by bigger funds may no longer be appropriate as whole groups of small retail traders are now able to influence the price of stocks, shares and crypto.
We can already see this in pump and dump social groups that target smaller coins. Where half a million joint investment can cause a huge rally, followed by the same people closing their longs and the device dropping fast. What if we are moving to a world where banks no longer hold the reigns? Where people use crypto in their everyday lives as a means of trade. I for one am very excited by this proposition.
My portfolio is pretty much completely in profit apart from my XRP trades one is in profit and the other is hovering around my entry price. So I’m excited for this week and I think I’ll be adding to my Bitcoin longs while those payments are made.
I’ve set an alert on the upper trend line. A useful function of TradingView. When I hit it I’ll put trailing stops on halfway. If BTC breaks the top of that line who knows where it will go to establish a new trend.
Happy days — oh don’t forget to join my discord, it’s free, if you want a personal analysis I have a £10 a month private area.
