Some Thoughts This Recent Rally for Newbies

The set up for bitcoin to explode in 2024 couldn't be more perfect.

That being said - I don't believe this recent rally will continue for long. If the Fed drops another 50 basis point hike on us we'll see blood in the streets and these recent gains will evaporate. Personally, I'm hoping we see bitcoin drop to ~$10K so that I can back up the truck and go in heavy.

As we all are well aware, the fed will continue to raise rates throughout 2023 - I expect them to top out at around 5% - 5.5%. We'll see massive layoffs (not just in tech), stock market collapse, and extreme fear as the effect of the high rates materialize (although the market is forward looking, the economic impact is delayed). However, once we make it through that painful period, the fed will pause and eventually cut in 2024 - that is almost a certainty. You combine that with the 2024 halving and you have yourself quite a potent mixture.

So keep calm and enjoy the ride. Don't panic if we see prices fall again. Happy Friday!