GENIUS and CLARITY
Disclaimer: Your capital is at risk. This is not investment advice.
ByteFolio Issue 167;
As I said last week, the quiet bulls are the best bulls, but this one is not so quiet anymore. Bitcoin broke out to a new all-time high, touching $120k. The ByteTrend Score is a clean 5, and the price is 22% above its 200-day moving average, which is both sustainable and healthy.
Bitcoin Looking More Comfortable with a Six-Figure Price Tag
The best bit is that Uptober (October in TradFi speak) is 77 days away, and that’s the best time of year to be invested. But, it has to be said that this cycle has been pedestrian compared to past cycles. I suspect that implies that when the down cycle comes, next year perhaps (?), it will be less brutal than in the past. Bitcoin is now a grown-up.
Bitcoin Halving Cycles
That said, Ethereum and the rest of the altcoins are still maturing. ETH has lagged BTC by 75% since 2018 but has recently perked up.
Ethereum ByteTrend in BTC - Weekly
On the daily chart, the price of ETH in BTC has a ByteTrend Score of 5. We increased our position in ETH a few weeks ago. It may be time to go again. The alts have always picked up later in the cycle.
Ethereum ByteTrend in BTC - Daily
Ali is going to update us on ETH and spill the beans about what is happening in the White House.
