The ACTUAL Reason Bitcoin is Crashing in February (you won't believe it)

Altcoin Daily

Introduction to Crypto Market

  • The crypto market is expected to experience significant changes, with Maryland proposing a Bitcoin Reserve Act and a Senate Banking Subcommittee on Bitcoin and Crypto being formed.
  • Despite positive developments, the Bitcoin price has been consolidating, similar to past trends after significant events.

Insights from Political Insider

  • Patrick McKenry, a political insider, explains that legislation in Washington moves slowly, with no permanent victories or defeats.
  • The election was seen as a bipartisan victory for crypto, but getting proper regulators in place and writing regulations takes time.
  • It may take 18-20 months to see law enactment, with the process involving Senate confirmations and committee hearings.

Regulatory Updates

  • Financial regulators, such as the Treasury Secretary, are being nominated and confirmed.
  • Important positions, like the vice chair for supervision at the Federal Reserve and the head of the OCC, still need to be filled.
  • The regulatory process is expected to take time, with hearings and legislation moving at a slower pace.

Market Analysis

  • Millionaires are made in bear markets, and it's essential to buy when it doesn't feel good to buy and take profit when everyone is optimistic.
  • The market is expected to consolidate for 3-4 months, similar to past trends.
  • Shorting meme coins can be profitable, with examples like Trump coin and Vine experiencing significant declines.

Shorting Meme Coins

  • To short meme coins, only risk money you're willing to lose and find an exchange with better liquidity.
  • Use exchanges like BitumenX, which offer limited-time welcome bonuses.
  • Switch to isolated mode, use 2x leverage, and set take profits and stop losses to ensure safety.
  • Open a short position immediately or at a specific price point, depending on your strategy.