Today’s Nuggets
The Last TradFi Greenlight
Tom Lee's Update
Putin Legalizes Mining
White House Plans Reset
The BTC NVTS Massive Dip
Killer Entry Signals
Banana Zone Incoming
The recovery is happening fast and we will go through a whole bunch of charts today to cover all of the Bitcoin news going down.
The crypto market cap is back to $2.1 trillion. Bitcoin's dominance is still high at 56%.
The Fear and Greed Index is at extreme levels at 20.
Bitcoin is still down 7% for August but increased by $4,500 in hours.
The rebound is hard but we have a long hill to climb…
Bitcoin is up $4,550 so far today, or 8.26% today.
Tell me how a more than $1 trillion asset can move up and down so fast.
This is the volatility of this beast. If your stomach is not ready for it, you should not be in the game. Where else can you enjoy such dip-buying opportunities?
People are still very nervous but I bet the Fear & Greed index will be in the 36 to 40 range soon.
Mark my words.
Bryn added iShares Bitcoin Trust to her position.
A lot of people follow her - mission accomplished CNBS.
There is a time to be bearish… but this is not it.
Michael Saylor was in an interview and he disclosed his bag but we knew his bag from years ago.
His bag is now worth over $1.02 billion - well done to him.
Quick reminder: follow clever people who have made it and not basement dwellers who do not know what they are talking about.
I am a big fan of Tom Lee's work…
He said some very profound things about crypto and Bitcoin, which I find worth repeating. His research team has been looking at network effects and Metcalfe's law for a long time.
He still sees Bitcoin reaching $100,000 or more by the end of 2024. By the way, when you see an asset move up 8% or 9% in a few hours, it is not beyond the realm of feasibility that
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