Bitcoin: $7,925.29
Market Cap: $300,145,433,900
Amazing the difference a few day makes. With the market cap about to drop under $300bn for the first time since…last week and BTC dipping under $8k after bouncing up from $7.3k a few days ago, the sentiment has suddenly turned south. There was genuine feeling that, with a few big alt pumps in recent days and the listing of WAN that the good days were back, but suddenly that’s evaporated and the fears of a bear market have returned. Because of this volatility I’ve been going back and forth with my ICX bag, eventually selling the whole lot last night and moving into USD, which proved to be a good move as it dropped 20% overnight. Aside from the ongoing push from institutions to get BTC down to the $4k area there’s no real reason for the drop, so I’m just hoping that the little bit of money I have in my Bitmex manager can make something of this volatility. The first result was promising – 15% up in a week during a bear market, and if things look bleak again I’ll put more his way.
There was a bit of discussion on my BB group about the price of VTHOR when it comes out. Lots of people think it’s going to be pegged at $1 which would be a) too low for people to bother holding and b) a f*****g catastrophe for me, but they would probably make up for this by increasing the staking rewards. I’ve got quite a lot of my financial hopes resting on this, wisely or unwisely, so I really hope it works out. TRAC are supposed to release their staking rewards today, so we’ll see what happens there and if it’s worth keeping. With prices so low and not worth selling I may as well get what rewards are on offer.
