Hi Ward.
I will tell you what my thoughts are CURRENTLY. But, you should know me well enough by now to know that when the facts change, I change.
Was last weeks high a multi-year high? I would not rule that out. I shorted last week near the exact top. Again, I rarely short. It's hard enough for me to figure out what and when to go long. So, I normally do not short. But, I determined this to be a golden opportunity. Right now, I am up nearly 6% on that short. I am looking at longer-term targets into late 2025/26 going under 50k, with the potential of going as low as 20k. It won't go straight down. But the odds look to me that bitcoin is going down for the next year or 2. When I went short last week, I left alone the miners I had in my taxable accounts. All but one were profitable and thus I had no desire to pay capital gains taxes when I believed that bitcoins trip down would be short-term. But now that I believe we are looking at bitcoin going south for the next year or two, I decided to sell the crypto miners in my taxable account this morning. One was for a small loss whereas two were for nice gains. So, that worked out.
Those are my thoughts on bitcoin that I'm sharing with you. Sharing is caring. Now if you were a Clemson fan, I would not be sharing with you unless you were a Clemson friend (that's not nice, is it? LOL). You know more about bitcoin than I do. You started this thread either because you have lots of money in that sector, lots of interest in it or both. As for me, I know little and claim less.
So, anyone reading this comment, PLEASE do NOT go by what I think. I am not analyst much less an expert on the crypto sector.
