Hey there, following on from the last post I am even more bullish about the market. All charts are reflecting that the correction is over and we were oversold. My portfolio has recovered over half from the drop. How are you all doing?
So...my key learnings from the last three months:
- Accept volatility, it happens, keep calm, if necessary take time off and ignore the market. I was pretty calm during the correction but judging by the various emails and phones I took, some of you and others not part of the group had started to panic. Get used to and embrace volatility.
- When the market is booming then it is a good chance to outperform the market by picking nice small coins. Equally, when the market corrects it is probably best to move back into the bigger coins, Bitcoin, Dash, Litecoin, Monero etc...
- If something makes a parabolic move then accept a retrace down. This happens in almost every incidence. Just look at the charts for Ethereum, Antshares, Digibyte, Bitshares as examples.
So moving on I am concerned about a couple of coins:
- Ethereum, appears to be trading sideways. My view is hold at the moment but the hacks, code issues and ICOs are really putting pressure on it. While ICOs are bringing in new money and driving liquidity, there is too much selling pressure. Let's see with this.
- Litecoin, is currently trading sideways, my fear is that it was a hedge against Bitcoin scaling issues but is losing its competitive advantage. If Charlie Lee achieves his position as a test bed for Bitcoin tech then it can maintain growth but I'm just not sure where it will go. Again still a hold for now.
- Ripple, old news. Never know what to make of it. I've kept away for a while but the charts are shouting breakout.
Any questions then please shout.