In this post, you will find:
Current Market Sentiment,
Crypto Gains,
Bitcoin intrinsic value update,
Coin Bureau portfolio update,
My portfolio update.
Current Market Sentiment
Bitcoin Fear & Greed index jump 42 to 74. In the stock market, the Fear & Greed index is decreasing from 30 to 57.
This is because the FED will not make any moves related to the stimulus (Powell said: "We have said that we would continue our asset purchases at the current pace until we see substantial further progress toward our maximum employment and price stability goals). Also, Powell’s term as Fed chairman expires in February of next year, meaning President Joe Biden would have to decide on Powell’s fate relatively soon in order to give the Senate enough time to proceed with the confirmation process.
So, this means there will not be huge changes until February.
For crypto, we can have a bull run without any stock market interference.
Crypto Gains
Last month, all-important cryptocurrencies increase in value. Most of the desired altcoins outperform BTC.
This may be due to inflation and still printing more money for stimulus (I write my concerns in this post). So, BTC can be a good investment against inflation, so I think this bull is not over.
It's not the only crypto that's on the rise, stock markets are breaking new records every week. Usually when we have inflation people buy gold, but it looks like gold hasn't changed in the last month (PAXG is still pretty much in the same place). Let's see, maybe Bitcoin is replacing gold :)
Bitcoin intrinsic value update
My model hasn't changed since last month, the values are in the same place. The model as explained in the video does not have data from the lightning network (that rises a lot). So, for now, I'm not going to sell at $50k, I'm going to start selling (Take some profit) at $60K, but very slowly and gradually during the rise (If the model output remains with the same values).
Portfolio update.
Coin Bureau made several moves, the most amazing move was on SOL. He bought SOL before August 1st (about $30) at the time for the big bull run.
He also bought MATIC and AR (just 1%).
He reduced his positions after this BULL in several coins ETH, YFI, REN, LINK, LIT, and ADA.
My current crypto portfolio
I didn't move, although SOL piqued my interest when I saw the Coin Bureau video in early August, I didn't fully understand it and I haven't used it yet. One of my principles is to buy only what I understand and what I have already used.
Last month I tried to find out if I can calculate the intrinsic value of ethereum. But ethereum is always changing and I can't find a model I can trust. I'm thinking about reducing my position at ETH, but just to balance my portfolio, not because I think it's a good move. According to some ETH developers, it is possible that by changing to POS we can reduce the Eth Circulation Supply back to 100M this will be a reduction on supply about 15% (the estimated time is "very funny" between 5 to 50 years) if we want to know more let me know can write a post about it.
