Bitcoin: $10,333.40
Market Cap: $453,337,007,900
Things are still very edgy at the moment, with no one really knowing what BTC will do. It’s spent the last couple of days flirting around $10k but with the ever present threat of a dive until it breaks resistance. I’ve had about $20k sitting on the sidelines since I sold my BTC when it was looking dicey, and while I don’t think it’s exactly solid yet I think it’s at less risk of doing something stupid, and it’s not worth trying to time a bottom when there’s only a few dollars at risk.
The alts dipped by double digits again yesterday which normally would present good buying opportunities but seeing as things are so volatile most trades are unwise, although I have dipped into more VEN as a gamble due to the upcoming rebrand and potential announcement with BMW. When the tide finally does turn I don’t think I’ll have a whole lot of liquidity to play with, and I want to leave some BTC as ballast, but I think I’ll grab some ICON or some XMR.
Something interesting that cropped up today was the announcement that one of the founders of my BB group has been running a private mutual fund which he is going to open up to BB group members. Their returns have been fantastic so far, and the advantage of this for me would be that I wouldn’t have to stress about all my coins all the time, and in a bear market there are people who know what they’re doing making me money by shorting the market. It’s very tempting to put a huge chunk of my liquid funds into it, although that does mean liquidating all those alt coins. I’ll have to run the rule over them and see which ones I think I won’t know how to manage myself compared to the solid ones I know what I’m doing with! I also want to make sure I have some capital left so I can buy into projects myself, otherwise what’s the point?