I have sold all of my Bitcoin
I am out of Bitcoin!
So this is a significant post and worth reading carefully. My crypto journey started with Bitcoin but as I have become more invested in crypto, I have diversified my portfolio. As of this morning, BTC was less than 10% of my portfolio.
I had considered flipping all of my Bitcoin to Ethereum yesterday but bottled it, I knew it was an emotional decision so held off.
Ethereum continued its impressive run this morning and is now very close to the market cap of Bitcoin. For me there are a number of reasons for this:
- The known scaling issues with Bitcoin and the UASF coming on August 1st
- Corporate interest with Ethereum as a technology which Bitcoin really can't do
- Price speculation
I think it is no longer a question if, but when the transfer of power will happen. I have often said that Bitcoin is running the risk of becoming MySpace to Ethereum's Facebook.
This morning I sold out all of my remaining Bitcoin after a price drop. Maybe a panic but I fear this is the sign of things to come. I didn't buy any more Ethereum though, I increased my holdings in Monero, Litecoin, Stratis, Syscoin and Factom. All coins which dipped in parallel.
I may be proved wrong here and am willing to accept it if I am. Please do not take this as financialy advice but I am here if you have any questions.