Almost a month ago, I blogged about my new purchase in Bitcoin. Here’s the chart:
Here’s a look as of today:
As a quick follow up, Bitcoin traded north of $700 yesterday. Not a bad return in three weeks.
Anyone follow this? Shot out to JB for getting my to pull the trigger last month.
OA
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OA, have to pick one for 3 week hold. FIT or LABU? Thanks.
Why those two?
LABU
Thought you had mentioned FIT as one you were looking at and LABU just from a range perspective of the market holds. If you have something else to offer I’m all ears. I’m not able to attend after market calls. Thanks again. Appreciate your time.
$FIT prices have to act in a certain way first…today’s move puts that stock away from my radar for a bit.
I always keep bitcoin in tote bro, always. Goes much higher.
Good stuff OA. Nice move in MTCH today too.
Thanks. Hope it breaks out before these calls expire.
Excellent work on MTCH. You are the NEOT correct?
In the NEOT
I sold on Friday to buy more oils.
Yikes!
Does the selling look a little too fast for $PACB? My goal was too get in near $9, and there’s not too much volume behind it. But I usually give a bigger sell a few days to simmer before jumping in.
It looked orderly as I watched it.
Why is MTCH up so much?
WETF around 10 has been a winner for the last 6 months.
Thx OA. Bought a couple based off your post. Was just gonna put it away and leave it long term. Didn’t expect such a fast move. Props.
Is this a long term hold for you or just a trade. Wasn’t sure if you were a big believer of the product or not.
Great looks – still constructive.
Bought my first bitcoins in Nov ’15, and a few more this year. The rise has been breathtaking. I sold half in the past couple days. A couple observations:
1. That latest high coincides with a .618 retrace from the all time highs a couple years ago.
2. Notice that the big ramps over the past few weeks have come on the weekends, Friday/Saturday especially.
3. An interesting site for looking at trading volume: bitcoinwisdom.com
4. The .5 retrace is at about 585.
More good news vis a vis cash on the sidelines: http://fat-pitch.blogspot.com/2016/06/fund-managers-current-asset-allocation.html?m=1
Must admit that I looked into this but did not pull the trigger.
Hassles associated with opening the account, it seeming dumb and risky if it turned out to be a loser, and the inability to just chart it regularly in my charting platform (especially the latter) all contributed to not wanting to pull the trigger.
Perhaps my own inaction can be instructive for sentiment purposes and thinking about the duration of the move. We’re not yet seeing a lot of articles about bitcoin or anyone pushing it, let alone hearing about it from our Uber drivers or hearing our brothers in law talk about it at barbecues.
Admittedly, total pain in the ass to get some. Agreed.
Watching a video about the Winklevoss Twins trying to describe Bitcoin was one of my favorite internet moments of 2015, and also precluded me from ever participating on the long side, unless I got word that they capitulated.
The sentiment here and among the public at large tells me Bitcoin goes higher. WSJ had a negative piece just this weekend…
Bears win today. Fok