This newsletter is sponsored by PHEMEX, the world's best crypto exchange for both spot and leverage. Sign up with the link above and get some free Bitcoin. I really encourage you to check them out.IF YOU HAVE ANY ISSUE WITH THE NEWSLETTER OR YOUR SUBSCRIPTION, PLEASE CONTACT: PREMIUMSUPPORT@GETREVUE.COI did a Twitter sentiment check.I have been very clear that I think Bitcoin will surpass $100k this cycle. I have even gone on the record saying I think over $200k is a good guess. I believe it is far more likely to surpass $100k than just hit $100k and top out.That being said, the market is starting to look frothy, especially crypto Twitter. I am feeling exceptionally bullish, which means it's a good idea to explore the bearish arguments.So yesterday, I dared to venture onto Twitter with one short-term bearish tweet and was immediately hit with strong pushback from across the community. I tweeted the following:So many top signals in crypto at the moment. Not particularly worried, but definitely paying attention.Almost every top comment was in denial about my statement, (most missing the point), but here is my reasoning. Almost everyone in the space, except Bitcoin maximalists, is making money in the current market. Even the TikTokers have managed to put another coin (SHIB) in the top 20 by market capitalization. Doge-themed coins are popping up left and right, laser eyes are coming back, and retail is making tons of money. High school kids are outpacing the most seasoned traders.Of course, I expect the foolery to be more intense in this cycle than last, but that does not mean that we aren’t experiencing short-term top signals. It was mostly the Bitcoin maximalists that attacked the tweet, and they might be right that Bitcoin’s turn is soon, but a violent move from the king here would likely hurt the rest of the market. Especially alts on their Bitcoin pairs. Ethereum hasn’t seen much of a pullback since the $2,200 level and when Bitcoin broke out of its all-time high, it did about a 3x, which Ethereum is just now achieving. Furthermore, the "aggressive" estimates for an ETH top were around 10K - now we are starting to here 20K and even 100K as predictions.It’s not that I am not on board with these predictions, I am also MEGA bullish on Ethereum - it’s just that the market can only go up for so long without taking a breather. I will continue to check sentiment and keep you all informed of my bias, I just wanted to keep it as real as possible for you all. I want to help you preserve your capital, always. Extreme euphoria in the market is always worth noting.Chart Request live stream today at 2 PM EST. Please follow the rules. I cannot take requests at any other time, so if you send them during a different window they may not get charted. Remember, no more email requests.1 chart per person, per weekSubmit your request between now and 1 PM EST.You can only submit your request through the link below.If it is not on TradingView, there is a chance I will not able to chart it.I can not guarantee I will do your chart, I will do my best.Chart Request FormIf you are a new member, please refer to Issue 236 (you can click on it here - https://www.getrevue.co/profile/TheWolfDen/issues/the-wolf-den-236-think-like-a-whale-592727 and have it sent to you) for instructions on how to make my charts your own.Here is the LIVE STREAM LINK - https://www.youtube.com/watch?v=oklTUIPGQkkIn This Issue:Sentiment CheckBitcoin Dominance Welcomes Alt Season From IntoTheBlockBitcoin Thoughts And AnalysisAltcoin ChartsTexas Is Becoming Crypto FriendlyEthereum Market Cap Tops 500B46 Million Americans Own CryptoMy Recommended Platforms And Tools
The Wolf Den #240 - Sentiment Check
The Wolf Den #240 - Sentiment Check
The Wolf Den #240 - Sentiment Check
This newsletter is sponsored by PHEMEX, the world's best crypto exchange for both spot and leverage. Sign up with the link above and get some free Bitcoin. I really encourage you to check them out.IF YOU HAVE ANY ISSUE WITH THE NEWSLETTER OR YOUR SUBSCRIPTION, PLEASE CONTACT: PREMIUMSUPPORT@GETREVUE.COI did a Twitter sentiment check.I have been very clear that I think Bitcoin will surpass $100k this cycle. I have even gone on the record saying I think over $200k is a good guess. I believe it is far more likely to surpass $100k than just hit $100k and top out.That being said, the market is starting to look frothy, especially crypto Twitter. I am feeling exceptionally bullish, which means it's a good idea to explore the bearish arguments.So yesterday, I dared to venture onto Twitter with one short-term bearish tweet and was immediately hit with strong pushback from across the community. I tweeted the following:So many top signals in crypto at the moment. Not particularly worried, but definitely paying attention.Almost every top comment was in denial about my statement, (most missing the point), but here is my reasoning. Almost everyone in the space, except Bitcoin maximalists, is making money in the current market. Even the TikTokers have managed to put another coin (SHIB) in the top 20 by market capitalization. Doge-themed coins are popping up left and right, laser eyes are coming back, and retail is making tons of money. High school kids are outpacing the most seasoned traders.Of course, I expect the foolery to be more intense in this cycle than last, but that does not mean that we aren’t experiencing short-term top signals. It was mostly the Bitcoin maximalists that attacked the tweet, and they might be right that Bitcoin’s turn is soon, but a violent move from the king here would likely hurt the rest of the market. Especially alts on their Bitcoin pairs. Ethereum hasn’t seen much of a pullback since the $2,200 level and when Bitcoin broke out of its all-time high, it did about a 3x, which Ethereum is just now achieving. Furthermore, the "aggressive" estimates for an ETH top were around 10K - now we are starting to here 20K and even 100K as predictions.It’s not that I am not on board with these predictions, I am also MEGA bullish on Ethereum - it’s just that the market can only go up for so long without taking a breather. I will continue to check sentiment and keep you all informed of my bias, I just wanted to keep it as real as possible for you all. I want to help you preserve your capital, always. Extreme euphoria in the market is always worth noting.Chart Request live stream today at 2 PM EST. Please follow the rules. I cannot take requests at any other time, so if you send them during a different window they may not get charted. Remember, no more email requests.1 chart per person, per weekSubmit your request between now and 1 PM EST.You can only submit your request through the link below.If it is not on TradingView, there is a chance I will not able to chart it.I can not guarantee I will do your chart, I will do my best.Chart Request FormIf you are a new member, please refer to Issue 236 (you can click on it here - https://www.getrevue.co/profile/TheWolfDen/issues/the-wolf-den-236-think-like-a-whale-592727 and have it sent to you) for instructions on how to make my charts your own.Here is the LIVE STREAM LINK - https://www.youtube.com/watch?v=oklTUIPGQkkIn This Issue:Sentiment CheckBitcoin Dominance Welcomes Alt Season From IntoTheBlockBitcoin Thoughts And AnalysisAltcoin ChartsTexas Is Becoming Crypto FriendlyEthereum Market Cap Tops 500B46 Million Americans Own CryptoMy Recommended Platforms And Tools