Top 10 Cryptos for September

Now let’s get into it…

Bitcoin has been trading in a historically low volatility regime, which has always meant one thing…. The calm before the storm… It was difficult to tell exactly what way the market was going to move in the lead up to the sell off as there was a mixture of things at play, such as the Bitcoin spot ETFs and major macro data being released. But the writing was on the wall when Evergrande, one of the largest construction companies in the world, finally filed for bankruptcy after many months of financial challenge. This added to a general liquidity crisis = tanking markets.

There’s many things that can impact the price of crypto, but myself and the team have always found that the main macroeconomic indicator to watch on Tradingview.com is the DXY (the value of the US dollar relative to a basket of foreign currencies).

It’s really simple to use… When the demand for the US dollar goes up, it highlights an environment where investors do NOT want to take on risk, which typically means crypto’s price suffers.
Whilst on the other hand, when the DXY is falling, it means investors are flooding into risky assets like stocks and crypto. It has an inverse relationship to the prices of Bitcoin and other cryptocurrencies.

Of course we don’t use any indicator in singularity, but we understand that not everyone has the time or capacity to analyse the markets like we do, so this is a good high level macro thermostat that you can use, like a one stop shop.

So where to from here? I explained a win:win scenario in a recent video to CCI’s VIP and Graduate clients, where it’s irrelevant which direction the market moves. You can’t control this, but what you can control is having a plan in place to capitalise in either direction. Try to always look at the markets from both sides and never be blinded by one way bias as it won’t serve you well… I will outline more about strategy in the portfolio breakdowns below.

When the market is boring it’s time to lean in. When the market has suffered a significant pullback, this is the time to REALLY lean in, not run for the hills. Don’t focus so much on what has just happened, but the opportunity at hand and your financial future.

Risk:Reward is something you always want to consider when making any investment and given the pullback, the underlying support in the $25-26k region, it made for an easy play to stack some Bitcoin. Greyscales monumental court case win is a new chapter for crypto… Whilst this has set a new precedent for Bitcoin, I am not so sure that BlackRock will be getting approval on September 2nd. This will be 45 days after filing and the SEC has the ability to delay up to 240 days, which would put it at mid-March 2024, right before the Bitcoin halving!

Bloomberg ETF analysts have increased the probability of a 2023 Bitcoin spot ETF to 75% from 65% following on from Greyscales win over the SEC, which and a 95% probability of a 2024 Bitcoin spot ETF!

The unanimity & decisiveness of ruling was beyond expectations and leaves SEC with "very little wiggle room".

Ethereum is likely to closely follow the parade…so keep your eyes wide open for what is to come!

Click the link to learn more now - https://cryptoconsultinginstitute.com/militant-trader/

Our current portfolio of Cryptocurrencies was chosen for technical outlook, narrative capture and market sentiment.

*Please refer to the Technical Terms Glossary at the end of this section for an explanation of technical terms.

*All prices below are current at the time of writing - $US
*Date of completion 30/08/2023

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