iBankCoin
CAPS LOCK IS CRUISE CONTROL FOR AWESOME
Joined May 7, 2012
118 Blog Posts

Enjoying A Crypto Melt Up

Things are good in Crypto land. I’ve managed a return that would shame billion dollar money managers for their entire career in the past two weeks. I’ve enjoyed egregious gains and catastrophic drawdowns since my first Bitcoin purchase at $13. It’s been a wild ride. Were I not in early enough and had weathered the dot com collapse I may not have made it this far. Truth be told, I was built for this.

Feel free to ignore the 80% drawdown suffered from the highs in December, that’s just going to be a speed bump on the chart in 2020. Perspective gentlemen. Don’t ever lose it.

I am watching in awe as EOS FOMOs out of control. Up 27% in 24 hours. It’s beautiful. Let’s look a little deeper.

I have been an EOS holder since day one back in summer of 2017. I weathered that nasty downturn to ~50 cents on an ill conceived FOMO buy over $3.00. Now I am sitting on a stack of vaporware tokens valued at over $14.50. These are amazing times we live in. Let’s call it a 4x gain in a year for easy math purposes.

What to do now? Well, taking profit here seems a no brainer. Take the money and run! If I’ve learned anything it’s that GREED ruins my portfolio more than anything else. It’s the bane of my existence. My personal kryptonite. And EOS is due for a pullback.

Truth be told I understand EOS even less now than when I purchased it initially. It’s morphed into a beast. It’s promising high transaction speeds, a revamped ICO market, easy access to new projects with automatic airdrops and a governance system that addresses many flaws in other systems. It’s all from the brain of Dan Larimer who has an impressive list of accomplishments in Crypto projects.

So a profit here, while seemingly sane and prudent, may be the worst move. It may also mean suffering an intermediate 50% drawdown of course as gravity takes effect. No chart stays vertical. But if EOS does take over the ICO market, proves a fast/scalable platform for decentralized apps and shows the crypto world the way to implement a fair governance system then the EOS run of 2018 may make ETH look rather pedestrian by comparison.

In my risk/reward calculations it’s an easy choice. Greed is good.

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9 comments

  1. numbersgame

    EOS > BCH > BTC

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    • CoinSpeak

      Maybe. Altho BCH is going for the hat trick to offer tokenization after the May hardfork. It’s definitely popcorn time. EOS may have the edge in the outside shot at comical returns while I think BCH is about to flip the entire crypto world on it’s head.

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      • heckler

        Where do you guys buy your EOS?

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        • moosh

          I like binance a little better than kraken. Bittrex was first reco, but they weren’t accepting new logins for quite a while.

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  2. oldmantrader

    Enjoy your posts not sure why you disappeared. I think you have a great deal to offer the readers here. Now that crypto has had a yuuge bounce

    Now what?

    I imagine most of the readers here are equity jockies do you have any reference material for beginning traders? I have a gdax account set up and have been looking at the charts of alts
    Not interested in arguments from the likes of numbersgame but genuine interest.

    Thoughts on BCH and the upcoming May 15 fork

    Oldmantrader

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  3. oldmantrader

    Should mention that I have traded LTC and BTC and the others on GDAX

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  4. mhass33

    Is this market really going to survive if all other risk assets tank?

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    • CoinSpeak

      I’d argue crypto is a perfect opportunity to rotate out of stocks and real estate after decade long runs into the perfect hedge for financial collapse: sovereign hard money.

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  5. og

    Only $1k more for my BCH to return to my buy point.

    I wonder if Square would add it anytime soon? Seems like they’re all in on BTC.

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