Bull Or Bear?
To be honest, it is still a very debatable topic, and the fact that there is uncertainty perhaps points to neither. I have been watching the price action fairly closely in the hope that this current wonky inverse head and shoulders pattern that is currently forming will confirm. I was playing around with some TA this evening and I must say it looks like things could be boring for a while. If BTC can’t find the ammunition to blast past $44K and confirm this pattern, then I believe we are in for a tightening sideways crunch until mid-May. I would expect the price to break out or break down towards the end of May. Bearing in mind, this is rather difficult to plot, as macro events are so chaotic at the moment. Either way, it is beginning to look like we are going to have some time to kill.
Time For An Update
This is why I made the decision to continue the very modest accumulation of certain coins. This was highlighted in the article, “What I Am Buying Now & Why”. I am still buying small chunks of Solana, every three days or so, as well as other ETH alternatives. I am also continuing to pick up AXPR at these levels. I can’t shake the idea of this project eventually finding some level of success. The market cap is barely registering, so were it to take off, it would be a killer! I try to buy the dips but I am not being overly concerned about timing as the increments are small. These are ultimately long-term buys.
I am actually purchasing these coins as my top-tier staking portfolio holdings. Solana, Avalanche, and Fantom all have great staking rewards. I am looking to build these holdings over the next five years or so. I believe that the market will reach a strong level of adoption, stability, and market capitalization by 2027.
Planning For Significant Staking Income
I am currently utilizing smaller passive income mechanisms to purchase these holdings, so there is not much risk. AXPR is a bit of a risk but is more of a wild card that I have decided to keep buying at this point. I am looking to build a solid and strong income mechanism through these staking coins and so am not worried if prices edge lower. I just want to ensure I am holding more coins as the days go by. This is like buying a business, so the cheaper I can pick up coins the better. I am only looking to realize a new income stream within the next five years, so the price can do what it likes in the interim. Actually, the lower the better, provided there is significant upside later on. Even if this only happens in the fourth or fifth year, it will actually be enormously beneficial to me.
This is only one aspect or sector of my portfolio. As time marches on, there might well be new additions due to a few of my wild cards playing out. Perhaps some EVMs, or other alternatives to Solana and Avalanche. I am sure there will be some adjustments in the Top 20 and hopefully, I am able to spot those. Despite the recent events regarding FTM, I still believe the project has a decent shot at rising up the ranks. I was able to spot Solana and Fantom very early on, so I just need to dedicate some more time to scout out new potential. There is no guarantee I will pick winners but I have managed to make a number of good calls over the last while. Hopefully, that can be the case again. Extensive research will often put you on the right road, as long as you put in the time.
Do enough unbiased research and you should be able to isolate a few good candidates. As long as you have a grounding and knowledge base from which to work, effective research should ultimately reward you somewhere down the line.
YouTube Or Research?
Most people regard YouTube videos as research, which is not really accurate. It is somebody else’s research, or perhaps not even research but merely an opinion. You can’t base investment decisions on someone else’s opinion. Even the picks and ideas that I write about need to be researched by the individual reader. You may strike it lucky by following someone else. However, true research is something that each investor needs to do for themselves. You may receive an idea from content creators but don’t simply follow it without performing your own due diligence.
Hopefully, we all go on to make a few good calls that will benefit us tremendously in the next bull run. Thanks a lot for reading!