Blanda Up: back into Alts after (hopefully) our last sideways Crypto weekend

By John Miller

Monday the 22nd of January 2017

 

Well it may be too early yet, but I need to start erasing some of Chicken Tax that I paid for my cash-out from the Alts, and we had another Bloody Sunday, so I’ll take advantage of the carnage.

My glorious buying strategy starts off with a 30% Bitcoin buy. It’s around where it was when I cashed out mid-last week when I got out just before the basement, so there’s always that. I got out because I was worried about a death spiral, and I may be buying back in just in time to catch it, but you can’t help bad luck kek.

Death spirals to one side, IMO everything depends on Bitcoin getting to $20K this year, so I’ll be dumping 30% of my cash buys into BTC going forwards and just leaving that reserve be.

Ripple had a bit of a gain while I was away, and then fell off a bit. I still like Ripple for $2 USD in the not too distant future, so at $1.40 I don’t have a problem giving XRP 10% of my cash buy and sitting on it for now.

The bulk of my buy – the other 60% – is going to Ethereum. Right now ETH it is mapping fairly solidly onto Bitcoin, but it transfers much faster with much lower fees, and is therefore a technologically superior Cryptocurrency. Most importantly, I can use it for trading in Alts on my favourite Crypto exchanges.

Even though ETH is great value long term for $1000, and will almost certainly double in value this year, I want to start grinding my Bitcoin count up again. This means I need to trade Alts that grow faster than ETH. There are a couple of ways to do this.

One way is to jump on a hot Alt, and hope that you’re not being Pajeeted. Alts get pumped and dumped all the time. I prefer to stay away from Alts that I’ve never heard of though, or when I don’t understand why they are mooning.

That means I need to look for value – good Alts that seem ripe for a Moon.

The best part of this strategy is that the Whales who hype Alt-Coins and send them on mad pumps are also looking for these types of Alts to buy up, and you are buying in without the Hype premium.

There are good value long term holds among the Alts too.

I picked up some Quant (QTUM) and some Neblio (NEBL) in this morning’s (local Aussie time) trading, both of which I like for their long-term value. Quantum has an impressive network of nodes and was on a tear before it got caught up in the January Massacre, and Neblio was the little Alt that was solid as a rock when the rest of Board was going down the drain on Black Tuesday.

If it wasn’t for Neblio there would have been no store of value Cryptocurrency on the board at all that day, and I would have taken a hiding when everyone else did. I love that little guy.

They both go back on for immediate resale of course, if I can get my highest rate of return in Ethereum. I’m grinding for Bitcoin count, but I’m trading for ETH, which will grow faster than BTC over the course of the year. Or at least I hope so, kek.

I picked up 5 more Alts that I liked the value of, but I won’t shill them, because their value was in the price that I got them for, and if I can’t trade out of them for more Ethereum in the next 24 hours I’ll take an Ethereum loss on them when I wake up tomorrow and move on.

For now all five are back on sale at my second highest rate of return. And now that everything is set up I can go for a swim and work on my sunburn. Hopefully we don’t have any more major disasters between now and this arvo when I log onto my trading exchange again lad and ladettes, and it’s a pleasure to be trading Crypto with you glorious bastards again.

To the Moon boys, to the Moon! Actually, to the beach ha ha ha.

Full disclosure: John Miller’s IRL name is Frank Faulkner. I’m an Aussie and when I’m not obsessing about Conservative politics or defending Trump I also enjoy various sports and Christian activities. Somehow I ended up in the Anime Right in 2016 because of Trump, and I trade Crypto because I want a Lambo.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s