I was wrong about crypto

Last time I put some thoughts down I talked about how I’m preparing for the drop back to $4k. As I write on Saturday evening, the BTC market sits above $6.7k. Shows you what I know. :-)

I do still believe we are going to see another drop. How much? No idea, but I am going to continue to buy a little each week while I wait I hold back a bigger spend for the time I can cannonball into the crypto pool again.

The holiday week has not been good to me. Despite the fact that we’ve seen multiple $100–200 jumps in a matter of minutes, the volatility has not been there. My ATN has netted me .005% (1.825% annualized) on 487 pairs during the holiday break. …

Crypto Twitter can be a really scary place. Sometimes it’s like reading the National Enquirer. There are pictures, charts and “facts” sure look real, but who knows which portions of each story is real and which portions are pure speculation.

The reports this week are calling for BTC to hit $4.3k within 3 weeks. That would be another dramatic correction to the BTC market. Personally, I’m OK with the market dropping. I continue to buy weekly and plan another larger buy if we do dip into the $4k range.

While we’re in crypto winter I’m going to run more short buys than long buys. The last 30 days have consistently played down and the next 30 will likely play out the same way. …

Cold feet?

As we’ve watched the price of BTC drop all the way to $6k, I heard a number of my friends start to jump ship and cash out.

They’re not leaving All the Numbers per se, they’re leaving crypto currency all together.

I’m dumbfounded as I watch friends walk away from this future. Much of what I’m hearing boils down to some form of “I’ve invested $100k and now all I’ve got is $60k!” And the panic trumps reason and discipline.

I don’t know what is ultimately going to happen with BTC and crypto currency, but more than ever I believe in the utility many tokens, more than ever I see a future where crypto plays a large roll in how wealth is transferred, and I’m seeing a future where goods & services are purchased using the currency. …

The ATN Slack channel had a lot of chatter today about price manipulation or “price suppression” as Super Crypto pointed out.

It’s a provocative piece written back in February 2018, but I don’t have a position yet on this. The only position I have at this point is 443 of them — BTC positions between $5.7k and $11.4k.

The good news for me is that as the price fell today (and the last couple days) I’ve been able to trade on the volatility through ATN. On Sunday I completed 135 trades where I purchased BTC low and sold it at a margin higher. 73 of those trades were shorts and 62 were “long” positions.

These 135 trades netted me 0.035% for the day (12.8% annualized). While I wait for the markets to bounce back, I’ll take another positive earning day.

I love Joe Montana. He handled his business on the field with class and consistency.

Being good, and doing it over a long period of time separates good ball players from Hall of Famers. Joe’s consistent performance earned him a spot on Canton.

I’m excited about the consistency of my ATN account. Once again, yesterday I hit 0.37% in daily return (135% annualized).

The little victories like this will lead to a compounded victory down the road.

Yesterday the markets moved between $9.7k and $8.6k. Wild movements! 48.2k BTC were traded yesterday, the same day the 17M BTC was mined.

Despite the fact the markets ran high to low, my ATN account still posted a 0.33% daily return (120% annualized rate of return).

I’ve been writing the last couple weeks about “boring,” “not much going on,” and even “depressed” crypto markets.

While it’s true to say the markets are not experiencing the same levels of growth and volatility they experienced in Q4 2017, they are experiencing more than enough pad my account with USD.

My previous posts (here, here, & here) have talked about 0.30% daily gains, or even as bad as 0.05% daily gains. When I put that in perspective, it’s 18% to 110% annual gains. Last time I checked my savings account, those gains crush the savings account gains I’m experiencing.

So in the spirit of having my mind blown, my ATN account realized an amazing 0.28% growth yesterday — 102% annualized. I’ll take that every single day and have a fantastic year.

Today has been a relatively quiet day in the crypto markets.

It was a good day to take the day off.

The BTC markets moved roughly 20k coins on GDAX exchange. It traded between $9015 and $8754.

The $261 window did not provide a lot of volatility to trade against. The only positive is the price held strong throughout the day.

My ATN account still produced a solid return today. I earned 0.29% for the day (105.9% annualized).