I start today’s blog update with the 20 Day Range & Median values for our
3 PAMM markets [BTC, ETH, “SPOOS”] directly below.
Two metrics immediately stand out to me, both disturbing … 1) the SP500
[SPOOS”] as a trading vehicle stink at the moment, and 2) the ratio of NYSE
MEDIAN VALUES FOR BTC & ETH / DAILY AVERAGES HAS SUNK INTO THE
LOW 50’S … more and better moves are coming overnight … how low can this
metric go?
What we don’t know about this latest bull run in both BTC & ETH, simply cuz
ETFs only started January 10, 2024 in BTC, barely 2 months ago, with ETH
coming later this year, is any kind of history of institutions or corporate demand
structures [banks, hedge funds, HFTs, insurance companies, or major
corporations] that can give us a hint as to their behavior … from what I see over
in “Stock Bellies” [DOW30, SP500, and/or NDX100], particularly the mega tech
tulip bulb darlings, the real world versus the prices of the “Stonks” reflects
prices for Unicorn meat … in other words, it’s BTFD FOREVER! … and of
course, that arena is dominated by institutions, so why not the same
phenomena in crypto with heavy emphasis on the big 2, BTC & ETH going
forward? … “WTF!, if the tech darlings can go up THOUSANDS OF PERCENT
OVER A FEW YEARS, with nary a drop in price but ‘tis a mere scratch, WHY
NOT CRYPTO? … in fact, we may be at the very start of the biggest bull run
in any market the world has ever seen, with values for BTC & ETH that sound
insane!” … thank you very much corrupt government that has given us
depreciating fiat!
At the major crypto houses [e.g., Phemex & Binance], it now costs right around
$4 per 1 ETH coin for “gas fees” [round turn commissions = 0.12% of notional
trade size ] … at Coinexx, when conditions aren’t bat shit crazy [BSC] and price
isn’t shooting straight up or down in chunks, the spread is usually well under
50 cents per coin … RT commish has up ticked about a penny to 7 cents per
1 lot cuz of the price increase … and yes, none of that guarantees a decent fill,
as my last trade in ETH at Coinexx was an embarrassment to the concept of
price discovery … still made money on the trade, but still it’s the principle of
the thing with these thieving, scumbag HFT [probably Citadel or BlackRock] LPs
… point is, the vast majority of the time our costs will be lower … much lower
… pretty much NOT the case in BTC, and it’s why I prefer ETH as a trading
vehicle … in my mind, it’s simply the new NASDAQ … give it a few years, and
it’ll be over $10K and climbing … onto the week.
… OUTTA HERE … “The future’s so bright I need 2 pairs of sunglasses 😎😎,
and my own Brinks armored truck” 💓!! … Onward & Upward!!
-vegas
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