On December 14, 2023, I put out a post about buying Binance at $248 (Time to Get Long Binance?)
It was and I did.
Chart 1: One-Year Binance Chart
So is it time to sell? If you are Davey Day Trader and up 47 percent in two months, yes, take some down. If you are crypto Buffett, nay.
Chart 2: Long-Term Binance Chart
If we are in the crypto bull market that I think we’re in, Binance could double from here, or more. Why? Because the UK and Japan both just entered a recession. The EU is partially there already and will be joining in full soon.
Fiscal stimulus is coming. Monetary stimulus is coming. The U.S. Treasury and Fed are already there, pumping money into a hot economy like we were already in a recession.
The global economy is reflating, meaning inflation up and growth up… which means it’s time to buy risk assets as risk gets wiped away by benevolent market Gods Janet and Jay.
NOTE: Do NOT buy Binance today, up 7+ percent. Also, all cryptocurrency assets are speculative. Don’t invest more than you can afford to lose.
NOT FINANCIAL ADVICE.