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ustonapc
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Scott, Bitcoin CME futures just dropped through support at 43,000. If it stays below 43,000, there is a good chance that it will test the support at 39,000-40,000 level next week. Regards James 
Bitcoin CME Futures.png
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Edit 1 times,
last edit by
ustonapc
at Feb 11, 2022 6:43:48 PM
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sgmd01
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Thank you James. I'm just watching it from a distance. Cryptos are very volatile and don't mean revert or trend well, return drivers are questionable, Crypto hedge funds overall have a .88 correlation to Bitcoin suggesting more beta and less alpha, and I don't have confidence in it as an asset class similar to this paper (https://www.institutionalinvestor.com/article...-Play-the-Sap-for-Crypto). However I do recognize it's value in being non correlated to everything else Scott |
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ustonapc
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Scott, I am also watching from a distance right now. For bitcoin, I will consider buying the dip if it dropped to 20,000 level or if it rises about the weekly Parabolic SAR (breaking new ATH) at about 60,000. Regards James |
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Edit 1 times,
last edit by
ustonapc
at Feb 12, 2022 5:56:39 PM
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sgmd01
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https://www.msn.com/en-us/money/markets/crypt.../ar-AATWHR0?ocid=msedgntp |
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sgmd01
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James, I posted the prior article because it shared my view that it's hard to find the bottom of a crypto selloff because there's "nothing there" as the senior JP Morgan Strategist states in this article. Based on the same theme the Strategist states that digital assets are in particular danger because they serve no purpose. "It's still all fairy dust and very vulnerable to higher interest rates," he said. Scott |
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ustonapc
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Scott, Thanks for sharing the article. However, it should be noted that JP Morgan's prediction was completely different 3 months ago and forecasted bitcoin hitting 146,000 in the long term. "Indeed, JPMorgan reckons that volatility is such a problem that bitcoin's fair price is actually around $35,000 at the moment. Yet the bank said that the token's volatility is currently falling and that a price of $73,000 looks reasonable for next year." Like forecasting S&P500, investment banks change their view very often depending on the market direction. Here is the link. https://finance.yahoo.com/news/jpmorgan-renew...de%20waves%20in%20January. Regards James |
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Edit 1 times,
last edit by
ustonapc
at Feb 18, 2022 1:40:30 AM
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ustonapc
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Scott, I hope you find this interesting. Regards James
Morgan Stanley.jfif
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Morgan Stanley2.jfif
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ustonapc
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Scott, I have send you a spreadsheet that compares the performance of Medallion Fund/Berkshire Hathaway/S&P 500 for the past 30 years. Pls check your email box when you have time. Regards James |
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sgmd01
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Thank you James. Biden just announced that a crypto executive order is coming this week. Between increased regulation and crypto weakness during a period that should drive it's prices upward (inflation & confiscation of assets) I'm growing more skeptical of it's utility (I still have an open mind but the data is getting more negative) |
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