I tried to continue trading crypto in 2023 but honestly I gave up after noticing that there is no movement in the prices, it was very boring during that year, nothing really happening with the price of either ETH or BTC. I paused my trading of crypto at May 2023 but I might come back when the prices start to move a bit more. And that time might be now, let me explain why.
Figuring out if Crypto is finally worth trading again
Just downloaded daily data sets of BTC, ETH and some stocks, put them in a google sheet and categorize each months daily average percentage difference.
What I found out is that as I said crypto has been dead for a long ass time, in fact from October 2022 till December 2023. So more than a year the whole crypto market has been frozen. Just look at the screenshots yourself.
But now since January 2024, starting with the new year it seems that the crypto market is back baby. We have 3 green months and 2 neutral on BTC, and 3 green, 1 neutral and 1 red for ETH.
The way I determine a red one is for BTC lower than 3.5% and green higher than 4% and for ETH red one is lower than 4% and green is higher than 4.5%.
Are the Crypto is dead days over?
So what this signals to me is that the slow and boring crypto days are over. Lots of new people are starting to invest in crypto again so it’s the time of the market cycle to have these big moves that crypto is known for. Now it might be just that there was hype around the BTC halving that happened on 20th April this year and the BTC ETFs being approved. Also the stock market has been tearing it up since the start of the year, with mainly tech and AI stocks fueling the rise.
Conclusion
Either way I am looking to get back into the crypto market game because I smell opportunity to make some money on these daily moves. I just love liquidity and big daily percentage moves, that’s where you make the most amount of money, not in some boring stock that moves below or around 1% a day. Let’s see fellas, good luck trading as always and catch those big waves.
We are baaaaack! So BACK.
