Bitcoin Peaks: Strategies for the New High

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Bitcoin today touched a new all-time high 🚀.

In a financial landscape where uncertainty is the only certainty, Bitcoin emerges once again as a beacon of potential. After a decade of closely monitoring and engaging with the Bitcoin world, I've distilled my observations and strategies into the below insights.Why has Bitcoin shattered its previous records, and what does it mean for you as an investor? Let's dive into the depths.

Bitcoin has once again defied expectations, setting a new all-time high. This isn't just a number; it's a testament to Bitcoin's growing influence and acceptance across the globe.

BTC Lighthouse Temperature

After moving to 3.7 yesterday, the BTC Lighthouse temperature remains unchanged at 3.7 despite a 5% increase in the price today. Though the temperature has entered the Greed zone, I am very bullish for Bitcoin for this year.

Here's a look at the performance of Bitcoin vs other assets today.

Bitcoin ETFs

The data from yesterday for Bitcoin ETFs is still pending. Below is a snapshot of their record-breaking performance so far.

The total AUM increased from $15 Billion to $50 Billion in just one and a half months. At the same time, the price went up from $45k to $68k. And the inflows have just begun.

While there is a demand shock due to the Bitcoin ETFs, there is also a supply shock as long-term investors are currently buying Bitcoin, and the amount of Bitcoin on exchanges is dropping significantly.

In a recent interview, Cathie Wood of Arc Invest mentions that their bull case for Bitcoin is $1.5 Million per Bitcoin by 2027. She thinks that their prediction will be accurate due to the institutional adoption that is coming for Bitcoin.

On The Radar

The only thing on my radar is the US tax months of March and April. When Bitcoin's price increased in the previous years, there were instances in March when the price dipped as taxpayers needed US Dollars to pay taxes. See this report from 2021 explaining this.

Even if this happens, I am bullish about Bitcoin for this year.

My strategy remains the same as my post yesterday. Existing investors can sell Bitcoin to create an emergency fund. A good selling strategy is to dollar-cost-average and sell over time. New investors should be cautious and dollar-cost-average over the next 30 days to buy Bitcoin.

Congratulations on the all-time high. See you at the next block.

Sandeep Goenka.