Yesterday, we hit on four of the market’s five points – stocks, bonds, commodities, and currencies.
You’ll notice we skipped cryptocurrencies – that was on purpose.
Because what’s happening in the cryptocurrency market right now is important enough to merit a full analysis.
Here’s why…
A lot of folks assumed that Bitcoin (BTC) would simply take off after it’s latest halving in mid-April. Instead, we’ve seen a double-digit pullback.
That’s left many investors scratching their heads…
But the truth is, this is how each of the previous halvings has played out.
I’ve been saying for months that the halving won’t trigger an immediate run to the upside. It’s in the year following the halving where we see Bitcoin’s price surge.
And we’re still on course to see exactly that – even before the end of this year.
Let’s start with Bitcoin…
If this chart looks familiar, it should. Because my projections for Bitcoin have not changed, even with the latest pullback.
You can see it on the chart: If BTC gets above its all-time highs around 73,500, there is nothing stopping it from going to 87,000-109,000 before the end of this year.
In fact, I think we could see six-figure Bitcoin before the U.S. presidential election, despite some big news stories looming over Bitcoin.
But in today’s video, I’ll tell you why those things don’t really matter in the big picture, and why I’m still bullish on Bitcoin through the end of the year.
How to Follow Along on my Next Bitcoin Trade
In fact, I’m so bullish, I just put on a new trade to buy into Bitcoin on the way up.
Yep, I’m getting in at what is currently the top of the market for BTC.
Now, as a trader, you might think taking a position near an all-time high is foolish.
Under different circumstances, I might agree with you.
But all of my research suggests that Bitcoin will eclipse its all-time high of 73.5, and land somewhere between 87 and 109.
However, if you’re going to get into Bitcoin, you’ll want to wait for the right move in the asset to make your move.
That’s exactly what I’m going to tell you about today – the special order I used to automatically get into Bitcoin when it hits the level I want. I’ll walk you through it.
And if you’re as bullish on crypto as I am, feel free to follow along…
Ethereum Could Become Crypto’s “Engine”
While I remain bullish on Bitcoin, it’s Ethereum (ETH) that really has my attention right now.
First, it’s been outperforming BTC of late.
Again, this chart ought to look familiar. I’ve been sharing it with you for weeks. And again, despite the recent pullback, I’m still very bullish on Ethereum.
Ethereum’s strength relative to Bitcoin is a good sign for the alt coin market, where a majority of smaller, more speculative coins are based on the Ethereum blockchain.
Meanwhile, we could see Ethereum Spot ETF approval as soon as mid-July, which would really kick ETH into high gear.
If that happens, Ethereum could go from being the caboose at the end of the crypto train to the engine driving the whole market.
I’ll explain why in today’s video…
Just click below to get started!
Good trading,
Tom Gentile
America’s Pattern Trader