Bitcoin and Ethereum activated the first buy level last week (See the previous post).
Price has briefly climbed again, but the weekend close indicates an imminent drop to at least the middle buy level is likely.
Information we’ve read suggests that crypto and, in particular, bitcoin and ethereum are only at the level of the big toe in terms of relative potential.
However, not all are singing crypto’s praises. Jack Schwager, author of the highly regarded ‘Market Wizards’ series, voiced in a recent podcast that the only value he’d give to crypto is what it gains from the ‘black market’.
But might this be similar to IBM’s comment back in the day, “I think there is a world market for maybe five computers”? At some 2.5 trillion in value, Apple, primarily a PC company, is leading the way.
I’m on the fence as far as crypto is concerned. However, if you are of a mind, a long-term purchase in line with our previous discussions is worth a punt.
From my perspective, 100% of my concentration is on my day to day trading with the slow trader fund. I’ve traded small recently, working on all aspects of my game.
The old but still highly regarded book ‘Mind over Markets” is an excellent addition to any traders knowledge. From which, I’ve applied slight changes to my approach.
Although ready to move up the gears again, I will continue to trade small for a few weeks more as I manage through the disruption of a home move.