I wanted to be really careful this week about writing my post for Friday. It seems like every time I have something going on and I am forced to write the majority of my post on Thursday, I somehow jinx the markets. There actually might be some wisdom there if you are a risk averse trader. Wait and see if I talk about how the price of BTC is up, then bet on it going down. It's actually kind of nice to be sitting in my office on a Friday morning.
This is the first Friday I have worked in quite some time. During the Summer we get Friday's off for a good deal of the time. Then when we didn't have Friday's off, I am usually camping anyway, so I take long weekends here and there.
It's also nice to see the price of BTC not taking a massive nose dive after the run up we saw yesterday. In fact, it seems to be doing even better so far which is crazy.
However, we still are forced to sit and wait to see what is going to happen with the markets. It's okay, I've gotten good at waiting. The opening photo was taken from a hospital room on the sixth floor. A relative has been in the hospital for over a week now with still very few answers about what is going on. All you can do is sit and wait to see what the plan is.
It sucks!
It looks like HIVE is finally starting to inch a bit closer to that $.05 mark, but for the most part the crypto markets are the same way. I was actually talking to someone the other day and I mentioned the fact that the crypto world just doesn't excite me anymore like it used to back in the day. That isn't to say I don't still see value or potential there, but things just aren't happening like they were in the early days. Everything was fresh and exciting and felt like a powder keg that could explode at any moment. Now, it's more of a smoldering fire like you seen in the photo above. Except, without as much of the extreme heat.
With the recent pump in BTC, I moved even more of my holdings over into GoMining to upgrade my virtual miner a bit more. I moved 5500 HIVE over and put that into getting my miner's energy efficiency down to 12 Watts. I also added some more power to my miner to get it up to about 124 TH. As long as the price of BTC stays where it is or continues to go up, this should be a fairly decent long term investment.
I'm definitely not going to be seeing any returns for a year or two, but I always knew it was a long play. Plus, if I ever have to sell my miner, I can probably get a decent amount of money for it on the marketplace.
Word on the street is that the CLARITY act is supposedly going to come to some resolution this month. One of my sources say that they expect it to pass before September 16th, but honestly, we have heard those promises before. All we can do at this point is just wait some more. See the theme there...
I honestly don't know if it's going to change too much. There was a time when I was very excited about the CLARITY act and what it could do for crypto as a whole, but now I am not so sure. It really feels like people have moved on and while there are some stalwarts who will always be invested in it, I don't think a flood of new money is coming in like we have seen in the past.
Then again, I hope I am wrong. Maybe institutional money will be the tide that raises the ships and us smaller folks will get carried along with it. All we can do is wait.
Honestly, what I have been doing is hedging my bets on BTC more than I have in the past. That still seems to be the one token you can count on. I've been DCA'ing for several years now, it's small of course, but every little bit will add up, and if BTC ever does reach seven figures, then it will have been worth it. That's part of the reason I have started to move more assets into GoMining as well. That just seems to be a solid long term BTC based play.
I just have to wait and see.
Like I said, it sucks doesn't it?!
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