Bitcoin: $9,649.81
Market Cap: $461,922,541,275
With BTC tipping $10k it’s safe to say we’re out of the woods and there won’t (well, shouldn’t) be a months’-long bear market. Alts have seen a nice double digit growth in the last 48 hours, although there’s a long way to go before they can get anywhere near previous highs. If they can break these ATHs in the next bull-run it will be truly epic.
The revelation that I have to track every trade I make has really made me think twice about buying coins, which is actually a very good thing; like making guns cheap but bullets incredibly expensive. You really have to think through and want to do what you’re doing. To that end I’ve only done one trade in the past few days, picking up some ETC when the market was still depressed to benefit from the assumed hike before an airdrop on 5th March. Since then the market has of course picked up and I would have been better off in other coins, but that’s life – I’d rather the whole market was up than just ETC. So it seems that the market is ramping up for its spring bull run, with BTC predicted to hit a max of $28k mid-May before a summer crash. What the alts will do is anybody’s guess, but I’m determined to make the most of whatever gains they make and be at least 50% out of the market by that point.
I’ve also contributed to another ICO which I didn’t expect to do, contributing a few ETH to the Pikcio Chain ICO which is highly regarded and relates to GDPR which is going to be VERY important and much talked about come May. Also got myself in the first 10,000 for the Ocean Protocol whitelist which gets me in for the March pre-sale and I hope to do the same with Seele this afternoon. Seele is one of those ones that I’m doing on the back of the views of people much cleverer than me, mainly because this is the description from their website:
Seele is empowered by an up-scalable Neural Consensus protocol for high throughput concurrency among large scale heterogeneous nodes and is able to form unique heterogeneous forest multi-chain ecosystem.
It’s descriptions like this that make me realise that I there’s so much of this space I don’t understand. Either that or everyone is pretending, which might not be far off the mark. Seriously, what the hell is a ‘heterogeneous node’? Sounds like something that needs an operation to remove it. At least with supply chain I can tell what the benefits are! I allowed myself to get a little carried away by the potential of SPHTX. It’s such an undervalued project that all predictions suggest will be enormous later in the year. I’m going to try and get more, along with QASH, when the market starts to run, although neither of these projects will really start to bear fruit until next year, and that excites me. When I’m investing now I’m looking mainly for coins that have long-term potential so I can have a nice combination of short term, long term and passive.
What’s also noticeable is that a lot of the FUD has died down and is being replaced by good news, all starting really from the comments made at the US senate a week or so ago. The major countries we would be worried about for banning (e.g. US, Korea) have come out in favour, and China’s constant ‘will we, won’t we’ will have little effect anymore, which clears a lot of the major roadblocks out of the way for mass adoption. It’s crazy to think that only around 1% of the population are involved in this. One can only wonder what the situation will be like this time next year after two more market cycles. I might have retired by then!