Today is Today
by Ben Lilly
Today is Today, Tomorrow is Tomorrow
Price jumped almost 14.7% from valley to peak yesterday.
This type of activity can turn even the most even keel personalities into geeked out chart watchers.
When you see your account grow almost 50% in less than two weeks you'll find yourself having more energy on less sleep. It's an exciting time. You body is literally being pumped full of dopamine whenever you see your portfolio tick higher.
Embrace it. It's fun.
The only thing I like to mention is when the market begins to feel like a party, take it one day at a time. Don't get caught up in thinking how it'll be 30 days or one year from now. Think about today. Only think about tomorrow when tomorrow comes.
Taking a crypto bull market one day at a time is like staying present while riding down a double black diamond during a snow storm. You perform better.
Taking things as they come helps you stay even keeled. It'll prevent you from dreaming about $100,000 per Bitcoin before we hit $50,000.
Nothing highlighted this better than the past few days.
The last unlocking from GBTC for 2020 happened on or around December 29th. The effect of these unlockings on price can last for a few days or a couple of weeks after. There's nothing cut and dry in terms of duration. Which is why we take it one day at a time.
When December 29th came we didn't view the market activity as done. Instead we continued to listen to Jarvis and let it do its thing. Over the last few days it was pinging us that Bitcoin was exiting Coinbase in 12k slugs and then a massive 38.4k slug. A clear sign of accumulation. The hoarding was in tandem with substantial inflows of USD stablecoins into exchanges. Yet another signal of impending bullish activity.
Twitter, trade groups and news sources alike were and still are taking blind stabs at the entity. For us, it doesn't necessarily matter. We know the Grayscale Effect is in full force.
The stablecoins flowed in.
Jarvis bought in.
BTC flowed out.
$32,000 arrived.
And Jarvis was out.
The day gave us an opportunity, Jarvis seized it. We'll soon find out what tomorrow is all about. When it comes, we'll make the most of it.
As far what it looks like right now...
Funding rates are extreme to the point where Long positions are paying a hefty interest to shorts inorder to hold positions. Floating Rates are going to 0.6% per day to hold a long position now.
Volatility also got a nice spike with an almost $3k sell off during the trading session. Quick drops like that only boost premiums in the options market, making them less attractive from the buy side.
The Chicago Mercantile Exchange (CME) futures market opens Monday and it'll be interesting to see what institutional traders think of price as they come back from the holidays.
Tomorrow will come, but until then we focus on today.
Your pulse on crypto,
B. Lilly
p.s. - Until further notice monthly subscription are no longer available. Annual and lifetime are still available. More details below.
Jarvis Update
Until further notice monthly subscriptions are no longer available. Each month we set aside a certain amount, but in order to prioritize alpha we can't budge on this. However, we still have annual and lifetime slots available.
We apologize for the inconvenience.
In an effort to free up slots we are offering a limited time opportunity for monthly subscribers to upgrade to annual or lifetime. If you’re interested we’ll pass along a 20% discount, that’s a $500 savings or two months free. Or on a lifetime that’s $2,000 off, almost a year for free!
Contact @benjamin_bc if you have any questions.
Remember, for lifetime subscribers you get any and all Jarvis products such as option bots, hedging bots, multi account access and more.
-Jarvis Labs Team
p.s. - Click the button below to learn more about Jarvis subscriptions. Or go to www.jarvis-labs.xyz and use the chat icon in the bottom right corner.
