One Chart to Rule them All
This Could Pay for Christmas (and Your Sub for the Next 100 Yrs!)
Ready? Meditate on this:
But first..
Why not do it tax free (Roth) or deferred (Trad IRA)? Takes all of 5 minutes!
$50 off your Alto IRA fees or a $50 credit right in your Alto CryptoIRA®.
Learn more and use this code: https://altoira.grsm.io/w9sw0iyiisai
Also: here's a third party article reviewing crypto IRA options (I use Alto IRA, as fees are next to nothing)
https://www.businessinsider.com/personal-finance/best-bitcoin-cryptocurrency-iras
Ethereum is a long-term hold IMHO, but there’s a possibility of making a quick 50-100% by or shortly after Chrismas.
BTW, Ethe is still at a DISCOUNT of 17% to the ethereum it holds! This is called a “sale on a sale” and the expectation is for the discount to narrow to zero if and as prices rise, giving you a double boost on your gains (see below for previous explanations) Keep an eye on the discount/premium for yourself, for free here ETHE ethereum fund discount to NAV net asset value
ENJOY and HAVE A GREAT WEEKEND!
(*Nothing here is to be considered financial advice. Always consult your financial advisor and do you own due dilligence, but DO IT!)
Bonus and CONTEXT :
Learn more from our previous post (up over 30% since posting ideas)
3 Charts to Consider
This is not advice of any kind. In fact, if you haven’t read our previous posts on The Halvening, do that first.Smurfing the New Normal is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.
And our June post (up over 50% since)
Update: THE HALVENING
The Halving The coming catalyst for bitcoin, (and usually most other crypto and alt coins) is the next halving.Surfing the New Normal is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.
Take a break:
Next time you tell a story, or explain anything at all, do it like Christopher Walken. Enjoy
OK, back to awesomeness:
..And our January 14th, 2023 “heads up” post (up over 125% since then on 3 ideas, 300% one on of them!)
HATED, AND SMELLS LIKE CRYPTOPPORTUNITY
October 22.2023 Update!! OK Folks, that’s A TRIPLE (300% GAIN) on GBTC/Bitcoin since we highlighted it right here on STNN in January. (see chart at https://seekingalpha.com/symbol/GBTC) Remember, “you can never go broke taking a profit”. Consider harvesting some, and taking at least your principal off the table. *Not financial advice. Consult your advis…
LETS LOOK A CHARTS. Occasionally a chart can say something interesting about where things are going. Below is the chart of ETH priced in BTC.
The price is about to hit a 2-year low. Last time it was there, it rallied sharply. After the Merge (which transitioned ETH to proof-of-stake) near the end of 2022, ETH has been down about 30% in BTC terms.
There’re a few ways we can look at this. The first thing is that the market is pricing in the tradeoffs of proof-of-stake and has punished ETH ever since the Merge. The second is that all the talk about a Bitcoin Spot ETF and institutional adoption has been very unilaterally favorable for BTC throughout 2023. There is a strong case to be made that some kind of mean reversion is possible, which means that ETH would outperform BTC.
Amongst all non-BTC crypto, I like the fundamentals of ETH the best. It has the biggest developer network and the most infrastructure to build on top of. Also, there isn’t a great need for alternative L1s when Ethereum’s ecosystem of L2s is already offering very high throughput.
For example, Solana is said to be one of the fastest blockchains. However, Arbitrum, Optimism, and Polygon – all Ethereum L2s – have a similar level of speed. Plus, a lot of the oft-repeated throughput metrics are also misleading.
Moreover, the Ethereum L2s actually have users on them. Look at these metrics from Token Terminal. Arbitrum generates about as much revenue and fees as Solana and Avalanche combined. That should tell you a lot – the fact that one second-layer of Ethereum is generating more value than these other two “ETH Killers” combined. https://seekingalpha.com/article/4657397-ethereum-has-upside
History Quiz:
HOW were they able to make CHROMIUM SULFIDE SWORDS 2400 years ago (requires 3500 Fahrenheit and special knowledge) that are still shiny and sharp when found?
https://youtube.com/shorts/incd058Lwkw?si=i73bme8lQ1XDPoBY