Strategy Update: Crypto Crunch (PREMIUM-UNLOCKED)

The following post was issued to TLS members in the morning of April 7, 2021:

Cryptocurrencies are selling off — what’s the next move?

After a recent pop, cryptocurrencies are on the decline today. As we have mentioned, the charts suggest they have further potential upside before this bull run is over. Therefore, we are still open to buying them into pullbacks to support — like today. That’s why we added some more crypto exposure into this morning’s slump which took prices right down to initial support. Specifically:

  • We added to our position in the bitcoin fund, GBTC, near ~48.80 as bitcoin traded down near support below ~56,000; we will add further should bitcoin test down into the low ~54,000’s.
  • We added to our position in the ethereum fund, ETHE, near ~19.40 (UPDATE: we also bought more near ~18.99) as ethereum traded down to potential support this morning near ~1950.


Disclaimer: JLFMI’s actual investment decisions are based on our proprietary models. The conclusions based on the study in this letter may or may not be consistent with JLFMI’s actual investment posture at any given time. Additionally, the commentary provided here is for informational purposes only and should not be taken as a recommendation to invest in any specific securities or according to any specific methodologies. Proper due diligence should be performed before investing in any investment vehicle. There is a risk of loss involved in all investments.