Chris Curl,
Editor
Dec. 19, 2024
BTC Surges Higher After Election
As I predicted, Bitcoin has soared following the U.S. Presidential election, climbing to a new all-time high just over $108,000. This surge reflects growing confidence in the crypto market, driven not only by economic and political momentum but by shifting institutional dynamics.
One of the most intriguing developments is the reported negotiation between Donald Trump’s Media and Technology Group (TMTG) and Intercontinental Exchange (ICE) to acquire Bakkt, a cryptocurrency trading platform. This move highlights the president elect's embrace of bitcoin and crypto.
The Bull Market’s Critical Phase
This latest rally is confirmation of what I've been forecasting all summer—that the bull market was far from over. Instead, we’re heading into the most explosive phase yet. The crypto market is likely to surge higher through 2025.
How high could it go?
With the increasing adoption of Bitcoin and pro-crypto legislation expected, there’s no telling how high it might climb. I do, however, have sell targets in place for my readers.
However, these gains don't come without risks. Investing without a clear exit strategy in a volatile market like crypto can lead to significant losses. Many influencers tout ridiculously high price targets to lure followers, often leaving them as "exit liquidity" when the market finally turns.
The key to success is setting realistic sell targets and adhering to them strictly. This approach minimizes exposure to inevitable market corrections and protects your hard-earned profits.
Spotting Market Tops with Key Indicators
To ensure profitable exits, I rely on two key market indicators which I explain below.
First Indicator
This indicator historically peaks when the bull market reaches its height, often exceeding 60%. And when it falls below the 40% range, it’s time to get out.
For those following my portfolio, I aim to track these shifts vigilantly. Keep an eye on the green-labeled assets, which remain buys until I indicate otherwise. The red-labeled or sold categories are your cues to stay clear of those investments.
Simplicity and clarity are key in navigating crypto's fast-paced environment.
Second Indicator
This indicator offers a more granular view for identifying market tops. By analyzing the crossover between the two moving averages, this tool has historically predicted Bitcoin's price peaks during bull markets. While not infallible, it's pretty darn close when used alongside my first indicator.
When these indicators align, the likelihood of a market top increases, signaling the time to exit. Remember, no tool is perfect, and external factors can always influence the market. For this reason, a multi-faceted approach is essential in safeguarding profits during volatile crypto cycles.
Enjoy the Ride—But Stay Prepared
The future looks bright as Bitcoin and the broader crypto market continue to push upward in this bull cycle. But with every rally comes the responsibility of disciplined investing. By closely monitoring market signals using my two key technical indicators, we stand to not only capture gains but also protect them when the inevitable bear market arrives.
Until then, stay invested, follow the portfolio updates, and enjoy the exciting ride ahead. The months to come will be nothing short of historic for the cryptocurrency space.
Find out all about my indicators and follow my portfolio by becoming a Crypto Cycle member today.
Keep coming back,
Chris Curl
Editor, Daily Profit Cycle