Portfolio: +37%
A nice jump in the last 24 hours thanks to a couple of factors – BTC touched $6k and bounced right back up, which was quickly followed by a US Senate hearing on cryptocurrencies that was broadly open minded and positive. We’re by no means on an uptrend, but the sentiment certainly seems to be that the crash is over, and that’s the first stage. Unfortunately I didn’t make the most of it and didn’t buy at the absolute bottom, but I did pick up some more PPT at a discount and have left some BTC free for other purchases. There will probably be a period of accumulation, which might see alts jump and might not, before hopefully something exciting in March.
On that subject, I read a very interesting article here that interviewed some heavy hitters in the crypto world who either already have millions or are waiting to pour in millions into Bitcoin. There were some very interesting insights into the recent FUD from various quarters, including the following:
“Waiting for US, South Korea, Indian and Thai markets to break negative stories by February, prices to stoop back to $5000. Big market players waiting to invest millions in Bitcoin and smaller crypto counterparts. It’s easy to guess, find the common corporate entity that controls media houses in these countries. Make your connection”
“Guys, there are big players in play, big institutional players who want to bring the price down to $7000, I know it seems impossible now but these guys handle the media and know how to control the market. For the coming couple of months, guys, stay safe, don’t be scared. Brace for FUD FUD FUD!”
What’s most interesting here is that this was posted in early January before any of this came out, so it reinforces what many knew to be the case – certain media outlets have been compromised by influential insiders. Given this was posted a month ago, and saying that the bottom was $6k, that’s very nearly spot on in terms of prediction. Whilst this is obviously concerning, and shows heavy manipulation, what it does mean is that these guys simply won’t let Bitcoin go to zero and that when the time comes they will be pushing the price up hugely. So it seems feasible to suggest that this current dip could well be the last time we ever see Bitcoin this low, backed up by others in the interview who simply said to wait until March.
So given that I don’t want to make any more changes to my portfolio I’m happy now to sit back and see what happens over the rest of the month, knowing that I’m in a position to jump on some ICX is it should drop.
Today’s lesson: Decentralisation doesn’t mean de-manipulation