Friday, March 01, 2019

What About All That Bitcoin Stuff You Used To Write About?

It's true, I haven't used my blog for quite a while, and the last time I did I was updating on crypto stuff almost daily.

My last entry was in April of last year.

Given the seasonal swings of my main profession, pest control...

That was also during the big drop from $20k/BTC to where it is today (about $3.8k at the moment). All other cryptos experienced the same. The entire story then (and before, really) became about one thing: the price.

(And no, I haven't lost anything because a) you don't lose money unless you sell out of a down position and realize a loss, and b) I have an average price per coin of $800 anyway.)

There was and still is so much more going on under the hood, but the price continues to be the only thing people focus on.

Reports are starting to emerge now that the price action appears to be changing. There's been a series of "up" days that occurred in these past few weeks, and within the last 24 hours stories are beginning to appear talking of "accumulation."

The main thing I've been keeping tabs on, however, is Bakkt.

Is the "crypto winter" over? Who knows. It doesn't cost anything to HODL, so that's what I've been doing (other than nibbling at BTC a bit around the $3200-$3500 range).

I just keep in mind what I witnessed when I was a fledgling stock broker back in late 2001, early 2002: shares of Amazon at $4, after having been as high as $400. And now...

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