December Market Update 🐂
The Year of the Bull
What a month to end the year and what a marked difference from one year ago. At that time I wrote that we would look back at prices and say that was the opportunity of a lifetime - and it sure was. QQQ was up ~50%, ARKK ~60%, ETH ~100%, and BTC ~175%. December’s melt-up slowly ground stocks to all-time highs and crypto to yearly highs into this week’s expected BTC ETF approvals. Crypto has largely decoupled from stocks and is now driven by the BTC & ETH ETFs, BTC halvening, global liquidity cycle, and presidential election year narratives. Each alone is very strong, and the amalgam of the four is formidable to say the least. This could be a very volatile year where we may see large drops on our way to all-time highs by many multiples. ETH NFTs are still in a bottoming formation with some collections showing strength. ETH NFT price action lags crypto and should heat up with a shift to ETF narrative and ecosystem strength in Q1. Furthermore, we may see a resurgence of the Metaverse narrative with the release of Apple’s Vision Pro within the next month.
My top investment ideas are CloneX, Otherside Koda, Checks, Opepen, Otherside, RTFKT Animus Egg, RTFKT MNLTH X, Mutant Ape Yacht Club, Doodles, Ethereum, Bitcoin, Chainlink, Solana, Blur, Centrifuge, and ARKK.
RTFKT announced Project Animus will launch in Q1.
Moonbirds launched Talons marketplace.
Doodles had a large sweep and is showing strength.
The next investment idea will be out soon. If you haven’t already, please upgrade your subscription now to receive it when it is published.
To the moon and beyond,
Andrew
Disclaimer
The content of this letter is for informational and entertainment purposes, and should not be construed as personal investment advice.