Crypto is a crime scene. Chalk outlines and blood splatters of liquidated longs are all that remain.
This means one thing. Time to buy the blood.
There’s no doubt Crypto got the hammer in 2018. Good. December 2017 was gluttony. I am a crypto bull and I was annoyed by the prancing lambo moon soyboys in spacecat t shirts and their 20,000% returns. Dumb money was rushing in at the rate of 40,000 new Crypto exchange accounts being created PER DAY. Think about that. That is an epic statistic and the peak signal of a bubble.
People were buying Ripple for fuck’s sake. That is the definition of insanity.
So why would I say it’s time to get long? Because the genie is out of the bottle. Programmable digital money is not going away. Crypto is the future. This retracement was needed but it’s nearing it’s end (give or take 6 months).
The market has left mania phase and is settling into price discovery. Crypto prices falling are part of that. Price discovery is a bitch.
But let me repeat, programmable money will survive. Which coin(s) survive is a hot topic of debate. In the dot com boom many companies were thought to be essential to the ecosystem. Yahoo paid ~6B for Broadcast.com as an example. A lot of really smart people approved the BCST deal at the time. In hindsight YHOO buying BCST was a catastrophic move. Who can say what will be smart or dumb in Crypto in a few months or years? All I can say with certainty is that Crypto will survive and thrive. This is an opportunity to BTFD.
Another reason to get long Crypto is the cyclical nature of the market. Stocks and Real Estate have had epic runs and are showing signs of reversing direction. Diversify those profits now. In addition, Warren Buffett is steering the SS Berkshire into cash and away from markets because he can’t find anything with a reasonable valuation. Berkshire is a huge ship to turn with a powerful wake and a telltale sign of the shifting of market sentiment.
Then there’s the global macro trade and currency war that is brewing. Crypto is volatile but when your national currency enters hyperinflation, drops 15% because of a Trump tweet or your banks freeze withdrawals Crypto is a safe haven by comparison. Crypto is the ultimate hedge.
So yes, Crypto is a mess. It’s still in freefall price discovery. This is when you should get your affairs in order and your fiat staged to enter the market. Catching a bottom is difficult but money is made when you buy, not when you sell.
I am still fully allocated in BCH.
If you enjoy the content at iBankCoin, please follow us on Twitter
holy shit you lost a lot
I’ve been posting on this site to buy BTC when it was under $1,000. If I did nothing else, what’s the return?
I posted huge wins in EOS. Cashed and rebought BCH. Banked countless shitcoin trades.
You have to have some vision and steel balls to be in Crypto. If you can’t see the future potential then I can’t help you. If you followed me last year you’d be up bigly.
So, I’m doing just fine. How’s your Fidelity mutual fund doing?
BCH/BTC going to 0.05
It’s possible. I’m not convinced we’ve seen capitulation yet. Crypto could be in bear market for another 12 months (Sept 2019).
Adoption is key. It sucks now. But you can’t deny the usefulness and eventual domination of programmable hard money.