Crypto, Rants

Crypto Winter, Again.

The crypto charts had been volatile over the past few days, weeks and months. Looking at the 90-days chart kind of emphasized my need and vision to be investment savvy to place the eggs into the various baskets and not just to one crypto investing.

Also, across the spectrum, I had also trade not just one but at least 2 coins to minimize the loss and importantly, ensure that I don’t get overly-heartbroken. You can check out my pots via my $FOLIO.

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I believed it will take some time for it to spike back especially $Bitcoin rewards halving will happen in May 2020. It would be an exciting period for all the crypto investors.

To me, crypto investment is more of a savings plan. One must be able to overcome its psychologically and mental aspects to HODL and not liquidate at small chances unless you are talking at a small fraction of what you trade. Sometimes I do that (to finance daily needs) too but I try not to do that frequent.

It’s mentally draining and also, not wise not a long-term trader.

I set a threshold of my losses and also, a timeframe to give it to rise otherwise, I will liquidate at the next possible chance. 😉

Trading is not also a one-off thing but it on another hand, I am those who do a lot of homework to these tradings because I need to know what I’m buying and I will try to envision a long term perspective.

So if you need any second opinions, email me or telegram me for more chat ups. 🙂

Crypto, Rants, Reflections

Crypto: The Bitcoin Shift (Views)

The Bitcoin had just made an unprecedented shift on the chart to what I called the “unknown region” of USD10K on 22 Aug and this persisted through the past 30 days of trading with dips down to USD10K not once but at least thrice.

CMC-BTC
Jul 23 – Aug 23 Bitcoin’s Chart, Courtesy from CoinMarketCap.com

30 days High/ Low: $12,273.82 USD / $9,252.30 USD

To be real honest, I didn’t expect Bitcoin to enter the below USD10K region as based on the past charts,  the support level was deemed to be around ~ the USD 10K+/- region. Indeed the volatility in Cryptocurrency is real and many actually asked — if; $BTC will dip further?

In my opinion, it will definitely make a dip due to the traditional stock market movement. I always think that a stronger fiat with ends up with a weaker crypto shift and vice versa as the presence of cryptocurrency is to complement the shortcomings of fiat. And of course there would be more than one factors that will attribute to the dip, e.g. protests at the crypto-centric nations or some important politicals shift in the anchoring countries (China, US, Russia…)

However, with the Bitcoin’s halving that’s gonna happen in May 2020, I personally feel that the dip below USD10K is a good region to enter before the push. However one still need to (1) do some background works, (2) exercise their own due diligence and (3) assess their own risk tolerance (stop-loss strategies) prior to crypto-investing.

To the moon, and beyond.