Apr 13, 2018
Debt, My Crypto Picks and Resource Links
April 11, 2018 (update)
Bitcoin (BTC)– $6,903 | Ethereum (ETH) — $420 | Cypto Market Cap $254B
The Crypto market is slowly stabilizing after a very rough February and March, and I’m optimistic better days are ahead. I can say with conviction, Crypto is much more exciting when the market is moving higher!
Over the past two months, Bitcoin seems to have stabilized in the $6,500–7,000 Range, while the overall crypto market cap has fallen to approx. $250B (approx. 1,500 + Crypto Assets). Many Crypto Assets have fallen 75% from their highs, and the flight to quality continues.
This Chart shows the All Time Highs (ATH), ATH Date, Current Price and the % Increase to reach the ATH again.
According to FundStrat, much of the selling in the past two months has been linked to tax selling — with approx. $25B of taxes that needed to be paid. Based on historical estimates, every $1 of outflow has a $20–25 impact on total crypto-currency market value. This means that the $25B outflow should reduce market value by $500-$625 billion. While the number seems high to me, it does account for part of the significant move lower. As I mentioned in February, the market is correcting, and it would not surprise me to see Bitcoin close as low as $4,000-$5,000 before we move higher. I’m mentally prepared for more downside, but we are starting to see signs the market is starting to move higher.
My position has not changed. I am taking the long view, with an outlook of 3–5 years that this asset class will see exceptional growth, and my approach is to dollar cost average in quality projects. I’ve included a few notes on my thoughts on Debt Levels, My Crypto picks, and a few random thoughts.
Debt
The Federal Debt continues to explode, and with another 1.4 Trillion Deficit this year, the Debt levels will continue to grow at an unstainable rate.
And with the 2017 budget approval, and the $1.4T deficit, the Federal Debt is over $20T!
This thread on Twitter, by Brendan Bernstein, provides a number of debt related charts and key points while attempting to show that Bitcoin is not a bubble.
https://twitter.com/BMBernstein/status/983829454475624451
Lessons Learns/ Thoughts on the downturn
I’ve continued to hold my core positions in the downturn, but I’ve added additional fiat to Bitcoin, EOS, OMG, NEO and I also invested in the tZero Token sale.
Core Holdings in order…. BTC, ETH, EOS, BCH, NEO, OMG, tZERO.
On the Radar- ADA, RVN and COSMOS
Podcast, Videos, Links and Other Resources
Podcast
I highly recommend to subscribing to Laura Shins Podcast: Unconfirmed: Insights and Analysis From the Top Minds in Crypto:
· Chris Burniske of Placeholder on the Downsides of ICOs:
What is Blockchain (YouTube):
· https://www.youtube.com/watch?v=93E_GzvpMA0
How Bitcoin Works Under the Hood (YouTube Technical)
· https://www.youtube.com/watch?v=Lx9zgZCMqXE&t=612s
As always, I am sharing information that may be helpful for my friends and family. I am not a financial advisor, nor am I a long time bitcoiner…. please hack elsewhere! Continue to #DYOR and hopefully things start to turn the corner in the next 30–60 days!
Feel free to reach out to me with any questions @ blockchaincryptocoins@gmail.com
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