Hot pick for 2023 - 2

This is pick number 2. It is number 2 as the volatility is extreme and a new low is not off the table.


Ethereum is likely to recover off its lows, however unlikely to make new highs in 2023.

Some points: 

- Both Bitcoin and Ethereum are managing supply shocks (BTC - MT Cox coin release, ETH - Stacking release post merge) to ensure price recovers. 

- Big down moves end on big bad news, the FTX crash should be the bad news to end the crypto sell off (well pending).

- New liquidity is arriving to world markets via the Chinese re opening and a lower US dollar.

- The FED's balance sheet reduction is being offset by the Dept of Treasury (Yellen) use of the TGA account.

- The reduction of world wealth via Bonds, Crypto, World Stock markets is near $30 trillion USD, the damage has been done to lower inflation concerns. The inflation fix is working.

- The greatest pain trade is for sold off risk on markets to recover. 

- The US has a balance of payments issue in 2023, who will buy excess USTs. The FED of course!



Chart ETH - Notice how $ETH moves between green channel support and resistance lines. 

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