Altcoins have been really interesting in recent times.
I can’t help looking at altcoins each morning to see what has happened in this space in the past 24 hours. Although I should also make it clear, we are not trading altcoins due to past experience prohibiting us to be involved with euphoric stages in cycles.
Also, I want to make it clear, I do not know where we are in the cycle as the whole
If we look at the S&P 500 yearly charts, we can see price is around the highs of last year and earlier this year. This will always be considered a sticking point for price due to reversal levels and congestion from the past.
If you were on yesterdays webinar, you will know we have been in a resting phase of the market and also the reason why we are in that phase. We need to
TSLA closed +3.7% yesterday giving the company a market value of about $208 bln.
That is now more than TM (Toyota) which has a market value of about $202 bln.
From $350 to over a $1000 in less than 4 months. That is phenomenal. I imagine the hedge funds that were short this stock are probably very happy they exited their positions with the loss they had when they did.