digital slowmad

Digital Slowmad newsletter

23 February 2024

📊 Crypto portfolio update

Exposure: 100.0%

Net return: 657.3%

Comments: In the previous newsletter I said the $44k - $48k level on BTC was a strong resistance area. Well, I turned out to be wrong.

bitcoin feb 23

BTC surged past the resistance area in five consecutive days, apparently due to increased ETF buying and reduced GBTC selling.

spot btc etf flows

So it looks like the Bitcoin spot ETFs are a game-changer... possibly in more ways than people expect.

The consensus now is that the market is in 'Up Only' mode, and that the ETF money flowing into Bitcoin will soon lead to a surge in altcoins.

Personally, I don't think things are that simple. I have a working thesis that says altcoins might not rally after BTC (unlike prior cycles). I've shared this thesis with the private group so if you've been wanting to join now would be a good time.

I have a feeling altcoins are going to underperform BTC and ETH for quite a while longer, and have positioned my portfolio accordingly.

Fully allocated - Details available in private group

📝 Admin update

😌 Priceless pancake

We've all seen images of AI prompts on social media.

Here's one I especially like:

💬 Quote of the week

Games are won by players who focus on the playing field. Not by those whose eyes are glued to the scoreboard.

- Warren Buffett

Thanks for reading, and have a great weekend. 🥃


P.S. If you have any questions or feedback, let me know at: chris[at]digitalslowmad[dot]com

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