Bitcoin: $8,106.89
Market Cap: $332,371,405,183
An interesting few days of BTC flapping around $8000 and, more importantly, a few alt pumps. I’ve caught a couple, namely WPR and WAN, but I was only investing 1 BTC, so didn’t make much. Despite all the positive sentiment I don’t think it’s alts season yet. BTC needs one more dump before we really take off. I don’t think we’ll dip below $6k, despite the various calls for $4k and $2k. Either way, wherever we land, the sentiment is vastly different as we know that it’s the last rung holding us down before we let loose. I’ve managed to get myself into a good position for the bull run which should land me with some healthy profits.
I’ve also been planning my long term strategy regarding crypto and the place I want it to play in my life. The last few months have seen more and more billionaires and wealthy funds announcing intentions to invest which, combined with forthcoming regulations, have solidified the prospect of crypto as an entity and a market that will be here to stay, which represents a huge shift in my thinking. We probably won’t see a market like this again once the big money starts coming in, so I want to make the most of the volatility while it’s here to give me a platform for the next stage of my life.
My new aim therefore is to reach a certain figure (not including my Guna/Bitmex funds) which will be enough for me to quit my job and let crypto provide my full time earnings. This is still a risky proposition, but I intend to put contingencies in place via various income streams to reduce the risk of one failing. These will include:
• Trading
• Guna/Bitmex funds
• Caviar (quarterly ETH payout)
• VET Masternode (THOR)
• Mining
THOR is one I have high hopes for, although there’s no knowing yet how much that will be bringing in. The beauty about THOR though is that it will effectively be a stable coin that will be paid out daily, which is why I’m considering going quite big on that over time as a safety net. I’m considering going bigger into that as time goes on until the cost of the coin prohibits it.
Once I’ve quit my job I will dial back the intra-day trading and will instead look to accumulate bigger bags of long term medium/big caps (ICX, WAN etc.) to go alongside the BTC gains made by Guna and Bitmex. These coins will also have staking potential, so there’s a combination of passive income as well as inherent price rise.
This takes me towards the end of this year where I will reassess the situation and see how I can take things to next level, possibly by turning it into standard stocks or property for the sake of diversity. The main aim however is to have my coins working for me and to provide me a bedrock of income, from which I can look to expand into seven figures and beyond. Given that we’re so ridiculously early in this space, the right picks should ensure this happens within a few years.
For now I’m trying to get all my ducks in a row to make the shoot as easy as possible. Ideally I just want to let my coins run the course with little interference and get me over my magic number. Here’s hoping!
