FederalXBT

Bitcoin sitting at a 5 year macro low -- coincidence SEC?

Long
CRYPTO:BTCUSD   Bitcoin
Minus all the news going on right now, it was clear "altcoins" "web3" was going to have its day once the SEC got its order in place, I believe that day has finally arrived.

I have been building a long position on Bitcoin since the $20,000 level preparing for the next cycle, including well structured BTC mining companies.

As my theory would be the moment the SEC makes a move on the "altcoins" it will be like a 2002 NDX bottom / 2009 bottom.

There's nothing the SEC can do to deem Bitcoin a non security without breaking its own law, meaning all "blockchain" "Web3" "memes" will be shifted directly at Bitcoin.

No coincidence Blackrock & Vanguard have cornered the MSTR market and Miners. They saw this coming from a mile away.



What's next? Bitcoin to take the spotlight and make its biggest move yet. .

I suspect history will repeat and there will be a new "altcoin rush" once again in the coming years with a different form hopefully people have learned and don't make the mistake again.



Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.