Overnight boom

I woke up this morning to see some significant gains through the night, a continuing trend from yesterday. I have logged my portfolio with a +8.34% 24-hour rise. Over the past week, this has been a near +50% rise.

The total market cap has increased from $38.02bn to $40.72 in the last couple of days, a rise of 7%. We are potentially entering a parabolic market movement.

When the market is hot like this, it presents an opportunity, but as such there are also risks. Bitcoin and Ethereum are both hitting the mainstream press, only yesterday The Telegraph was reporting on Bitcoin's new all-time high.

It feels very similar to 2013, and there may be a market retrace at some point, but there are key differences from 2013 which give me a little more confidence.

Firstly, in 2013 FOMO traders were entering the market and when the crash happened, panic sellers brought the price down, and it took two years for the price to stabilise.

Secondly, 2013 was entirely priced speculation around Bitcoin. Part of the growth of Bitcoin and other altcoins over the last two years has been around the blockchain technology and real world applications where the currency is used to reward the miners for verifying the blockchain. Yes the market is still full of traders and thus price speculation is a factor but any retrace will likely be short term rather than the two-year bear market we saw after 2013.

Thirdly, institutional money is entering crypto markets, which is less reactionary to short-term market movements.

For long-term investors, I think now is a good time to enter the market. We could hit a total market cap of +$100bn before the end of the year. Equally, we could hit it before the end of the month. The growth curves keep beating expectations.

Short term investors there is always a risk, the markets can retrace at any point, and if I could predict these movements, then I would be driving a Lambo.

If anyone has any questions or need any support please just give me a shout.

Please do not invest in anything you do not understand or any money you can't afford to lose. Crypto markets are volatile and emotional decision making can be expensive.