The Banks Are Scared of Cryptocurrencies … and So They Should Be!

Now my mining operation is live; I have been working with my accountant to ensure we have clean books and report taxes correctly. One of the things we need for this is a business bank account.

This week, I had my application for an account with Metro Bank rejected, the third bank which has rejected me following Lloyds and Revolut. The latter the funniest, seeing as they promote themselves a Crypto friendly bank, allowing customers to buy and sell Crypto alongside their fiat accounts. 

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We Need to Talk About Crypto Trading: A Cautionary Tale

During a recent webinar I held, I created a poll asking how trading was going, with options from making good money to losing lots of money. There were a handful who have lost a lot, and I asked them to get in touch if they wanted to discuss it. A few people messaged me, some of whom have lost tens of thousands of pounds, one who had dropped hundreds of thousands, so I thought it would be good to write a cautionary post about investing in crypto.

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Are We in a Bear Market? No, I Think This Is a Correction

What a week it has been. I don’t think many of us expected such a hard hit to come so quickly, and even with the bounce from $6k, are we really out of the woods yet? I have been Tweeting out some stuff this week, specifically taking an honest look at the weaknesses in my trading strategy, but I want to put it all down more clearly here.

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Trading Update - Rebuilding My Portfolio

I have been a little quiet on the blog recently. Following my departure from the market on November 10th, prior to the Bitcoin Segwit2x fork, I have slowly been rebuilding my portfolio.

I had come out of Bitcoin the day before the cancellation of the fork, and the majority of my altcoins a few days earlier. During my first full year of trading, I have twice seen my portfolio cut between 40% - 50% and the uncertainty around the 2x fork was making me nervous about this happening again. Every notable drop in portfolio value is a lesson in the market and what I know now is that there are no set patterns, as such my gut instinct plays a significant role alongside both technical and fundamental analysis. For example:

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