StrateG Update - Week 51 | Q4 | 2023
Steady growth
Please note that while I can provide information and insights based on my knowledge, it's important to remember that I cannot offer specific financial advice. #nfa
Key take aways
Bitcoin grinds upward after multiple successful tests of $40k, parabolic move intact, next resistance $47.2k
Altcoins are moving up with momentum now, still lagging a bit w.r.t. BTC
SP500 and Nasdaq had a big rally this week, Nasdaq reached a new all-time-high!
The dollar has dumped strongly, FED’s favorite inflation gauge came in lower than expected.
News of this week
The CEO of Grayscale predicts that a traditional Bitcoin ETF could unlock $30 trillion in advised wealth.
The SEC engages in another meeting with BlackRock and Grayscale regarding discussions on a Spot Bitcoin ETF.
The UK government is set to establish new legislation for digital assets, aiming to position the country as a crypto hub.
Argentina's Minister of Foreign Affairs announces that contracts within the country can be settled using Bitcoin.
El Salvador passes a law granting citizenship to foreign investors who use Bitcoin.
The Hong Kong Securities and Futures Commission expresses readiness to consider applications for Spot Crypto ETFs.
The Federal Reserve's preferred inflation measure, Core PCE, decreases to 3.2% in November, marking the lowest since March 2021.
Tweet of this week —> “…what caused Powell to sink higher-for-longer-island”
Bitcoin (BTC)
Current status 100% Winning strategy: 🔵
🔵 Market starts bullrun, <BOTTOM IS IN>
Best to be fully scaled in at this point
𝔾-indicator flashes black after long time blue