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- Weekly Rundown - March 17, 2024
Somebody said something about a crash in the crypto market.
As best I can tell, Bitcoin’s price is down 2% since my last rundown. Is that something to worry about?
Single-digit volatility is meaningless. It tells you nothing about today's circumstances or prospects for the future. We’re down 8% from Bitcoin’s all-time high price (equals a 15-20% drop for your average altcoin).
Let's not worry about the day-to-day changes in prices. We care about bigger things. Who watched or read my update for March 14, 2024?
If you didn't, do it now. I took a deeper look at our market conditions and potential outcomes. I also flagged updates to my exit plan and advice for altseason.
Look for another market update this week.
Sadly, I have to skip next week’s rundown to prepare for a family trip during the last week of March. While I’m on travel, I’ll have my usual update for premium subscribers and might even squeeze out the monthly issue.
(Next week, not this week.)
Also, make sure you saw my urgent news about an altcoin report.
If you missed those posts or any of the premium content, upgrade to the premium plan now so you don’t miss anything else. You’ll also get:
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Scroll down for poll results and a podcast you may enjoy.
In last week’s poll, I asked “How many non-crypto people have talked to you about crypto so far in 2024?”
When I ran this poll two months ago, most of the responders said “none.”
This time, a plurality of responders said “less than 3.” Is that one more sign that we’re moving from “stealth” to “awareness” on our bubble chart for this market cycle (however you define “cycle”)?
What do you think? Leave a comment!
The crypto community seems enthralled and fascinated by the Wall Street ETFs. Some seem to ascribe magical powers to their ability to move the crypto market in a permanently upward direction.
I have a more nuanced view, as you know. A recent Blockworks podcast gives you the best, simplest perspective and insight around the ETFs, who’s buying them, how people are using them, why that matters for Bitcoin’s short- and long-term potential, and the ramifications for your investments.
Listen to the podcast:
Or watch the recording:
That’s all for today. The debate is the assignment. It’s about an hour long (30 minutes on 2x speed). One of the most important bits of content you’ll listen to this month.
Relax and enjoy the ride!
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