iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
20,951 Blog Posts

Pondering the “Crypto Crash”

I started a monthly buying program for Ethereum last year, allocating about 3% of my monthly revenues into the beloved crypto. I buy it on the first of every month without hesitation or temptation to market time. My intent was to accumulate the coin over 3 years, not at all interested in appreciation of my capital. The reason why I am buying ETH isn’t to get rich, but to diversify my currency holdings into crypto. Between BTC and ETH, I view the latter as the preferred vehicle and the option with best potential.

My basis over the past year is about $280. Last month I bought some at $1318. The month before that I bought at $748, and before that $607 and before that $385.

It was a wonderful occurrence when ETH shot above $2k, luring a new cadre of investor into the crypto amidst celebration and declarations of substantially higher prices just around the bend.

So color me amused when I view upon ETH trading at $1,390 now, still up from my 2/1 purchase, with the entire internet declaring it to be over.

Nothings over. You just can’t turn it off.

God willing, I will get to buy more ETH on 3/1 under my 2/1 purchase price, which will be the first time in nearly a year I’d have the privilege to do so.

If you enjoy the content at iBankCoin, please follow us on Twitter

6 comments

  1. richardweiner

    I seen on the news that George Soros and Charlie Munger maintain their youthful glow by eating baby fetuses. #SaveOurChildren

    • 2
    • 0
    • 0 Deem this to be "Fake News"
  2. trumpmeister

    I will personally be buying BTC and ETH with my stimulus and unemployment checks. So should the wanna be WS ex-traders on this fine hall.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  3. itsgold

    just keep buying. Fed is still pumping.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  4. purdy

    Diversify by owning shares in hard-working east Asian countries …using local currency. Get out of the crypto circle jerk while you’re ahead. Goodness gracious Fly.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  5. echeshier

    Cardano (ADA) has risen to the #3 market capped crypto. It will eventually overtake both Bitcoin and Ethereum – the tech is better. Look into the ethereum gas cost for a transaction compared to ADA

    • 1
    • 0
    • 0 Deem this to be "Fake News"
  6. narwhal

    I’ve been listening to the cafeteria cashier and the rent a cop security guy in my place of employment talk about their epic crypto trading on a daily basis. Before long, the homeless people in back of the building will be joining in. Good luck

    • 1
    • 0
    • 0 Deem this to be "Fake News"