21st March

Bitcoin: $8,994.17
Market Cap: $348,445,819,444

BTC is hovering around $9,000 which is nice for stability and allowing a few alts to pop off here and there. As I write this ICX has just listed on Bithumb which is the news everyone was waiting for and explains why it’s gone 55% so far and shows no sign of slowing. I did my usual trading fuck up where I made about four trades and ended up with less money than I had when I started, which impressive really, but I never can resist losing my shirt when trading. Luckily there wasn’t much money involved, but I really should have learnt by now that trading when you don’t know TA is a great way to give people your money.

I’ve found my sentiment shifting even further towards the idea that some have held for a while everything bar BTC is a shitcoin and the only reason to dabble in them is to end up with more BTC. I’m not quite so far-right as this yet, but I’m definitely moving from the middle to the right, and apart from projects that I have real faith in like VEN I don’t see any reason to hold on to a coin for longer than a market cycle. Whilst I’m sure that projects like ICX, QASH, POLY and others will have good futures, they are (for the moment) at the whim of BTC, and if anything happens to BTC either way then it has the power to wreck any long term plans. So whilst I’m not going to engage in trading for obvious reasons, I will 100% be planning my purchases around market cycles and hoping my outsourced Bitmex and Guna funds will make me the bulk of my earnings.

Interesting news out of the G20 who initially said that regulation wasn’t needed yet but then announced that regulations were recommended for July this year. This is positive because we now know that, if there is to be a spring bull run it will end in June, followed by a dip as the regulations FUD does its thing, then, in the words of the French finance minister:

"As regulation gets cleared up, it will unlock the floodgates holding back a tremendous amount of corporate, governmental and institutional capital that needs more certainty before it can participate in the blockchain economy."

This may take the rest of the year to iron out, unless by some miracle the regulations actually are in place by July, which means that 2019 might be the year crypto really takes off.