I like using old-fashioned expressions, but one I’ve never understood (I think it tends to be used more in Britain than the U.S.) is “too clever by half.” However, the spirit of that expression leaps to mind when I think of my own recent decision to take my profits on crypto. One glance at the CryptoStream page for my own portfolio shows my 25% gains for which I was putting myself on the back so firmly have been overshadowed with just a couple more days in the can.
Look at those last two – up about 75% in just three days! Those were $EOS and $LINK by the way.
In any case, I simply cannot be comfortable staying in crypto when Bitcoin looks like this:
And Ethereum looks like this:
I will say, however, that if BTC conquers that horizontal, it’s a pretty easy path all the way back up to $47,000.
But yet here we sit, on another zero-volume, lifetime-highs-everywhere day. Here is the volume on the SPY through yesterday. As you can plainly see, it doesn’t exactly take enthusiasm to keep equities slipping to endless new records.