29th May
Bitcoin: $7,452.39
Market Cap: $324,690,380,550
My first full day in the mad world of crypto has been an interesting one so far. With the price hovering around $7k there is a huge divide of opinion as to what happens next – half say up, half say down. After months of bearishness I have to say that my instinct was up, in the short term at least, from the 6.7-$6.9k support, while others didn’t think it would hold and we’d slip down to the $5k area. Well this afternoon we saw a nice pump of about $400 which pulled alts up a little bit, topping out (it seems) at the current price with the expectation that it will now drop down below $7k, offering some nice shorting opportunities (for those that Mex, unlike me). I took the chance to make a little bit of pocket money by selling a bit of BTC a short while ago. The wisdom is that June will see a pump into five figures for BTC before a dump to hell over the summer and then a meteoric rise in the autumn/winter as institutions clear the red tape and buy in at a hilariously cheap price and shoot it to the moon. This is an eminently feasible set of circumstances, although as we’ve seen crypto rarely does what you expect. So in that case, expect an 18 month bear market. But then if you expect that, will the opposite happen? Hmmm.
I also took the opportunity to sell my AMB masternode. This isn’t because I’m not bullish on it, quite the opposite in fact, but the network won’t be active until the end of the year, and if as is predicted we’re going to have a huge dump to the $3-4k region, there is where I want to be picking up my masternode. It experienced a slight pump today pre the BTC move so I took the chance to sell and will assess options later in the year. Hopefully it will drop significantly enough for me to afford the next masternode up from the one I had, and maybe even a VEN Thunder X node. Now wouldn’t that be something.
On a more personal note, I began my life as a full time crypto investor/trader by taking my boys to a café in town before buying them some Lego, coming home and playing it with them. Compare that to a 7am start in an office full of drones, idly tapping away at spreadsheets and the backend of a website, bored out of my mind. The only downside is that I’m currently working from bed which isn’t that comfortable after several hours, so my wife and I are making plans to knock down our existing garage and green house and build a new half garage/half office-cum-sun room for me to use next year. Given the current market this will probably be next year, but when that day comes I will probably be the most excited I’ve been since, well, today. In little over a year I’ve gone from having only ever heard vaguely of Bitcoin to working full time in cryptocurrency. I was diagnosed with ADHD a couple of weeks ago, and one of the symptoms is acting impulsively, a trait I can definitely see has shaped my life up to this point, and now I think the intervention of crypto into my life has seen the most impulsive set of decisions I’ve ever made, hopefully for the better.
So, if it hadn’t already, today the journey has really begun.