Bitcoin's Final Day in 2024

Introduction

The host, George, welcomes viewers back to Crypto Zeros and mentions it's the last day of the year, December 31st.

Market Analysis

• The broader market in the US (Dow, NASDAQ, S&P) is looking green.
• Bitcoin and related stocks (MicroStrategy, Coinbase, Robin Hood) are recovering and in the green after a significant sell-off.
• Bitcoin's price is at $95,600 after dropping as low as $91,900 yesterday.

Investment Advice

• George emphasizes the importance of having a long-term mindset when investing in Bitcoin or other assets.
• He discourages investors from having a short-term perspective, citing examples of people who bought Bitcoin at peaks and rode through downturns to eventual profits.
• He advises those who bought in at recent highs and are now down to hold on, dollar-cost average, and be patient.

Outlook

• George believes that with Asia and Europe's markets closed and US markets looking positive, the chance for significant negative volatility is reduced.
• He suggests that Wall Street has likely completed its rebalancing and profit-taking, setting the stage for a positive start to the new year.
• He mentions the possibility of Bitcoin returning to $100,000, given its history of rapid movements when sentiment changes.

Other Cryptocurrencies

• George notes that other cryptocurrencies like Solana, XRP, Cardano, and Chainlink are more oversold than Bitcoin, presenting potential buying opportunities.
• He encourages viewers to take advantage of the downturn in these and other altcoins, expecting rewards when the market recovers.

Conclusion

• George concludes by thanking viewers and looking forward to the new year, encouraging them to stay strong, focused, and patient with their investments.