Mountains and Valleys

Bitcoin lost a critical support level last week, but then on the weekend, Trump hinted at a potential US strategic crypto reserve featuring XRP, ADA and SOL (he later also mentioned BTC and ETH). This pumped crypto prices straight back into the support that we lost last week (now turned resistance).

We experienced some of the most hilariously unpredictable price action in crypto in many years. Let's see whether this renewed "Trump Pump" is another straw fire or whether we are already at a point where the bull market can resume. We stay cautious.

This is by far the most difficult crypto bull market for any strategy aiming to outperform Bitcoin. To a point where over long stretches it doesn't even feel like a bull market at all.

Many things possibly contribute to this. Maybe global macro conditions are different this time, like the global liquidity situation. Maybe uncertainty surrounding the Trump/Musk regime in the US or the power wars between the US, Russia and China drive people away from high risk assets like altcoins. Maybe there's a changing of the guards happening in crypto, with institutions taking over the Bitcoin side and not having discovered the lustre of altcoins yet. Maybe crypto failed to produce new ideas that are strong enough to take attention away from the AI revolution. Maybe the enormous amount of new coins created and the senseless hype surrounding meme coins has driven serious investors away. Maybe all of the above and more.

Whatever the reasons for this lacklustre bull market might be, we don't think that we've seen the end of it yet. There are many positive signs on the horizon: easing of crypto regulation in the US and more regulatory clarity world wide, sustained institutional interest (at least in Bitcoin), signs of maturity and adoption in several blockchain ecosystems, promising new infrastructure and application projects and much more. Crypto has a bright future and we assume that eventually, prices will again mirror fundamentals.

It looks like a wind-down of MAV can be avoided for now:

• Only copiers who are onboarded with the Dutch entity of Iconomi will no longer be able to copy MAV. You can learn which entity you are with under "My Profile"/"Account Status".
• MAV is onboarded with the UK entity, so not affected by the regulation changes in the EU when it comes to non-EU copiers.
• Apparently, our strategy was erroneously put to "sell only" for all or most users of Iconomi on Friday, this has been corrected now.
• If you are with the Dutch entity, your MAV investment will be converted to one of Iconomi's MICAR compliant strategies on the 30st of January. We suggest that you proactively manage this process and chose your own strategy instead of waiting for the forced sell.
• Most importantly: since our strategy is allowed to survive, we will continue managing it according to our usual process as we do not want to let down our remaining copiers in the hottest phase of this bull market. As the market heats up, we will be following a strict profit taking strategy.

If there should be any changes to this situation, we will post a message here.

It looks like Iconomi will be winding down this strategy.

We are not entirely sure what will happen, as the messaging in the blog post linked below is not very clear. In any case, we recommend our followers to switch to another strategy before the 30st of January.

If any funds should remain in this strategy beyond the 30st of January, we will sell them to USDC and we will no longer maintain the strategy from that point on. We have moved our private funds out of the strategy and off the platform.

This is a sad moment for us, as we'd have loved to share the last and usually most exciting leg of the bull market with our copiers. But alas, the life span of all things crypto has always been famously unpredictable.

MAV made +1000% since inception, not your average pension fund performance. We thank our copiers for putting their trust into our strategy. May you always be early and may your bags be up only! 😢

https://www.iconomi.com/de/blog/iconomi-is-phasing-out-certain-public-strategies-in-the-european-union

Mountains and Valleys wishes everybody a happy 2025. The last stretch of this bull run awaits.