Market Update - January 23, 2024

Complacency kills

Author

Mark Helfman
January 23, 2024

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Your favorite influencers say Grayscale’s crushing the market.

While selling never helps prices go up, we know there’s more to this story. We’ve seen it unfold in real time for weeks. We’ve followed it every step of the way. Bitcoin’s price is following a normal path, very typical of bull markets. Where bitcoin goes, altcoins follow.

Let’s dig in and see what we need to look out for. Preparation doesn’t guarantee success, but it’s better than guessing. You can make up for bad timing. Complacency kills!

Today’s update covers these topics:

  • Video

  • Woe to those who dismissed the distribution pattern

  • Catching up on the trade from February

  • A shift among the stablecoins

  • It’s not FTX’s or Grayscale’s fault!

I strongly advise you to read the summary below and watch the video update! You miss too much when you get only one of them!

To speed up the video (shorten the playing time), tap the gear button at the bottom of the video. I circled it in this screenshot.

A playback speed of 1.5 should do ok for most of you.

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