Accumulation Period is Over

How to ride the bullmarket wave

Author

will stauner
March 07, 2024

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The Phenom Crypto Letter

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GM,

Well….that was a wild week. The Bull Run is on and retail is coming back to crypto. Coinbase had an outage from too much traffic. At this point they are going down more than Solana. Never thought I’d say that. Bitcoin briefly broke its all time high before crashing back down to the low 60’s. If you haven’t been through a crypto cycle before, these whipsaws are normal. I’d recommend using them to “buy the dip”. The one this week was largely due to an old whale selling off $1.3B worth of bitcoin they mined in 2010. The amount of profit they took is pretty astounding a good reminder of why we are all in this space.

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Here’s what we have this week:

  • Eric’s current thoughts on meme coins 💩

  • Accumulation Period is Over

  • Miles Thread on dip trading

Market Rundown

Accumulation Period is Over.

PlanB recently updated is power law chart on X and confirmed this cycles first red dot. The easy accumulation phase for Bitcoin is over.

The bull market is on and if we use history as our guide we will see 10-14 months of incredibly strong price action coupled with straw drawdowns.

I am done buying BTC and ETH unless we see a 20-30% drawback.

My plan for this period is simple:

  1. Hold my current bag of BTC and ETH (possible add if we see a significant pullback in the next 3-4 months)

  2. Start adding to my alt coin bags. Most alt coins haven’t started ripping yet. As BTC and ETH cool off they will start. The next few months are the time to finish building those positions. I am also saving 10%~ of my portfolio in stablecoin for projects that haven’t launched yet.

  3. Take profits from Alts according to the profit strategy I outlined in previous newsletters.

  4. Sell everything in Q3-4 of 2025.

Enjoy the ride 🚀

Eric’s Current Thoughts on Meme Coins

BlockBuzz™️

Quick Hitters from the week

The Twitterverse

A collection of the most interesting stuff on Crypto Twitter this week

WAGMI

For the Crypto Culture

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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.

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