With Bitcoin hovering around $3500, at this point i'm not entirely sure whether to buy or sell or just hodl.
The plan was to travel to Portugal with my family of 5 for a holiday and generate enough profit from bitcoin and alt coin trading to pay for the entire trip.
The perfect scenario occurred on and around the 14th and 15th September with the announcement by Jamie Dimon of JP Morgan stating that Bitcoin was "a fraud" (lunacy) and the fact that the Chinese government has proposed to shut down cryptocurrency exchanges. (no one country can stop bitcoin)
The play here was to move bitcoin holdings into USD tether at the exuberant levels just shy of $5k and buy back and add at the super cheap levels around $3k. This sounds easier said than done.. but in reality the cryptocurrency market is far simpler to read than other markets. Sell signals were everywhere leading up to $5k, the problem may have been for those who were holding on to try and reach the $5K number, which I don't think was quite hit on most exchanges. Scaling out from the 4500's was the right action here. $5K is just a number, like $4922 is just a number. There was no need to wait to be bang on $5k.
The Algarve in Portugal is a great spot for kids, we particularly like Vale Do Lobo which is about 10K from Faro airport. really could not be easier. We are a 5 minute walk from the beach through the 'aldeamentos' and thankfully it is not the height of the season, so we can easily get tables at restaurants without having to book and commit to a plan.
I have locked in some profits from the mad market swings back into USDTether and although our holiday will likely work out more expensive than predicted, we are in fairly good shape. It also helps that the crypto market is 24hours round the clock, we are not affected by time zones or geography. I have been freed up to play with the kids and do my nannying duties but pick my moments to dive into the markets and the news.
So now the volatility in the market appears to have died down for now I plan to lie back and relax. I have a diversified account spread through about 50 different altcoins, although I mostly hold King Bitcoin, I have a good chunk sitting on the sidelines in USDTether and some further cash losing buying power in fiat currency languishing in the bank waiting for an opportunity.
I don't think it would be wise to go 'All In' on any single market or coin.... the same as I don't think it would be wise to sell off 100% of any one position. I plan to play the long game here in crypto. Money will be fully digitalized one day... there is no stopping that IMO.
Good Luck to all.
Ben
i liked its nyc and i upvote you
follow me at @zazaibot i will follow you back upvote me restreem my posts i will do yours to become both rich :D
thanks
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