From February 26 to March 1, the trading resulted in a total profit of +338,545 USD.
It was the most profitable week ever due to a surge in Bitcoin, as it seemed to lighten above $50,000 as anticipated.
Despite some fluctuations, considering factors like Bitcoin ETFs, halving, and expectations of interest rate cuts in the US, there’s still significant upside potential for cryptocurrencies. The plan is to continue buying.
The focus going forward will be on two main points:
- The announcement of crucial US economic indicators Upcoming releases such as the February ISM Non-Manufacturing Index, February ADP Employment Report, January JOLTS Job Openings, and February Employment Statistics are of interest. These indicators, except for the last ADP Employment Report, have previously exceeded market expectations, contributing to a rise in US long-term interest rates and a weaker yen against the dollar. If such market-exceeding results continue, it could further support this trend and benefit export-related stocks. Although concerns of inflation reignition have subsided with the February 29 Personal Consumption Expenditures (PCE) Price Index meeting market expectations, it’s wise to remain vigilant to economic indicator outcomes until the March 19-20 Federal Open Market Committee (FOMC) meeting.
- Bitcoin’s rise towards new highs – showing some bearish signals Bitcoin, the world’s largest cryptocurrency, is rallying towards $64,000, nearing its all-time high. However, traders might take a breath before it breaks new records. Bitcoin briefly surged 5.12%, reaching $63,649. It climbed to $63,968 on February 28 but then dipped below $59,000, with cryptocurrency exchanges like Coinbase Global experiencing disruptions due to a surge in transactions. The buying frenzy was fueled by massive inflows into US Bitcoin exchange-traded funds (ETFs), surpassing $7 billion this week. The recent uptrend, nearing $69,000 and setting a record in November 2021, is sparking debates whether this marks the beginning of a new bullish market. According to CryptoQuant, the margin is currently around 45%, suggesting a potential for price adjustments when exceeding 40%. Although a correction sell-off is likely before reaching the November 2021 high of $69,000, surpassing the highest value seems only a matter of time. The plan is to continue buying, but with tight stops.
P.S.
I’ve arrived in Japan.
It’s still chilly in the Kanto region, but the days are considerably warmer when the sun is out, and various flowers are blooming ahead of the main cherry blossoms. Spring is just around the corner, with Tokyo’s cherry blossoms expected to bloom on the 21st of this month, just over two weeks away.
Transitioning from winter to spring has several positive effects on mental and physical health:
- Improved mood: Longer daylight hours and more exposure to sunlight naturally increase serotonin levels, known as the “happiness hormone,” which brightens mood and promotes positive emotions.
- Increased Vitamin D: Natural vitamin D production from sunlight supports bone health, enhances immune function, and reduces the risk of various diseases. Vitamin D also has a positive impact on mental health, shown to decrease the risk of depression.
- More outdoor activities: Warmer weather increases opportunities for outdoor activities. Regular exercise contributes to weight management, reduces the risk of heart disease, alleviates stress, and enhances overall happiness.
Considering these benefits, it’s a good idea to actively seek out more opportunities to go outside.
Have a great weekend!
