๐ Hi crypto enthusiasts and fellow investors!
TL;DR:
Bitcoin price surged by +27% in two weeks, new high since 17 months.
Not yet positioned? Position yourself strategically, avoid FOMO & think long-term!
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It's Stefan from CryptoExplorer. Big news! Within just two weeks, Bitcoin's price went up by +27%. We haven't seen such a high price in 17 months! And this is only the beginning of the upcoming bull run.
After the price surge, many people asked: "Why did this happen? What should we do now?" CryptoExplorer Pro members got answers right away. They received a special update with all the important information and of course some advice. I want to share some of this with you so you know what you are missing - my Pro members get! Enjoy ๐
Market Update from 24/10/2023
Hi @everyone. The last few hours have been crazy! Here is a summary of the reasons and also my opinion on the whole situation, including concrete tips for some of you.
There are new news on the BTC Spot ETF, because according to documents BlackRock is already buying the first BTC in October! Much earlier than anyone would have thought. They need to do this to have some spot BTC ready when the ETF will be launched. Whether this has already happened and was the reason for the rise or whether it was the rest of the market that got ahead of it is unclear. But it gives us a small taste what is about to come. News Article
BTC Spot ETF is now officially listed in the DTCC register. Ticker: $IBTC This is a news headline that creates FOMO in the mind of all investors and shows us that we might be nearer than we think.
Many people who have been waiting on the sidelines and have not yet built up any positions have now of course also received FOMO. This applies to private individuals, but also to institutional investors.
The institutional interest can also be seen in the next chart. Public funds saw a $43M inflow into bitcoin yesterday. That's 10% of the YTD total just yesterday! Read more here.
Of course, the sudden surge also caused a lot of shorts to be liquidated, leading to a short squeeze.
All these factors led to Bitcoin surging to $35,000 and more in a very short time.
Now letโs docus on what you should do now.
My Advice
The sudden Bitcoin movement caught many off guard, but not my Pro members. As a loyal newsletter subscriber, my countless tips over the last few weeks should hopefully have also helped you.
We've been bullish and actively positioning ourselves for moves like this.
My advice in short?
Position yourself in the market, be strategic, avoid FOMO, and think long-term. If you're on the fence, consider a calculated dive rather than staying on the sidelines.
And stay away from shorts! ๐ฌ
Wondering about the rest of the analysis, tips, and strategies? Thatโs the kind of comprehensive analysis and insights my Pro members receive frequently, ensuring they're well-equipped to navigate the crypto seas.
And... for those looking for community discussions and updates, we have some exciting news! ๐
The free version of the Discord channel is now finally open! Get frequent market updates, follow my investments and ask your questions. Join me here:
Remember, whether youโre just starting or have been with us for a while, the journey with CryptoExplorer Pro is about informed decisions, community support and achieving your crypto investment goals!
Cheers & stay curious,
Stefan
Co-Founder of CryptoExplorer
nice finally the Discord is back (: