Market Thoughts 6/20/22

Sitting here looking at the Bitcoin and Stacks charts as the day comes to a close, and I honestly don't hate what I see. The Bitcoin 3 day candle looks like we found a bottom, at least for now. We are back over 20k, sitting on good support. That said, who knows what will happen in financial news this week. If you have a high time frame in mind this recent price action has been fantastic. I am absolutely a buyer at these levels. If you are a scalp trader this is also a great time for you. There has been lots of volatility in the market, and I think we will continue to see more. Me personally I am not trying to stare at charts all day long and manage a short term position.

Stacks has great support at $.32, and looks like we are trying to build support at $.37 on the 4 hour chart. I have been buying these levels, most recently today. This chart feels early, even though Stacks isn't a new project. I am accumulating regardless, this is my big bet for the next bull run.

Could we see lower prices? Absolutely. The financial tumult we find ourselves in is pretty unprecedented as far as I can tell. Bitcoin did break a lot of very strong supports on the way down, but that was due to forced selling it seems. Still people are largely risk averse right now, and people are feeling the pinch of inflation. People are also slowly realizing that a lot of what they believed about money, government, taxes, the entire system is a giant scam. Therein lies the bullish case for Bitcoin. Will people start using this alternative currency when it becomes clear that fiat is just a way to rob the majority of people for the benefit of the few? I think that they will. I think that as USD becomes more worthless more countries will add Bitcoin to their balance sheets. Ultimately Bitcoin will win, and this is good for Stacks as well. So my strategy remains: buy the levels I like, be patient, and keep my eyes open for the opportunity to launch a Bitcoin giga long.

In terms of NFTs I have been buying. I went pretty hard on the Minotauri launch, I think that team has a lot of potential and I like where their heads are at in terms of utility. I also have been scooping up Sigle Explorers, the floor price is essentially double what it was when I made my earliest buys. Obviously I love this project, the team is awesome. They are truly good people, and I believe in their potential. The team is always working and updating the discord, and in fact they have a really big announcement in the Discord right now.( You should check it out, link we be at the bottom). So I remain a buyer, and I am always on the lookout for NFTs that I just really enjoy. I am very bullish on Bitcoin NFTs. I believe that the next NFT bull will be bigger than the last.

In unrelated news I will be debuting my 2nd Sigle blog soon. Its primary focus will be stories of interest within the Stacks community, interviews with devs, and other crypto related content. I have a concept for a 3rd, but it isn't fully thought through yet...plus I really need more time lol...so that one may be a while. That's all I have to say for now. Until next time, Jack.

Sigle Discord

The NFT featured is #9 from the Mars Woman Collection. You can find that collection, and many other Bitcoin NFTs at Byzantion and Gamma.