The Week To Be In Crypto [04/08/2019] – Jonathan Tompkins – Medium

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Market Overview

Nothing to see here…….

I am of the mind that the more we automate and the more actions and decisions we hand over to algorithms, we will see relative stability but we will also see much bigger shocks as those systems “learn”. There was a joke through much of 2018 about the “Bart” pattern. Where its either violent moves in one direction or sideways. Crypto trading will be the most automated value transfer mechanism ever built because it is born in new technology and there was a decade for for the algorithm builders to work in relative obscurity. This is the new normal, but it can be one of the harder environments for individual investor to operate in. Options would help but they are not widely available yet. So, be careful, dont get greedy, the worst plan is no plan.

Unfortunately what this means is that conviction will be rewarded, not reaction. You need to set your plan (limit orders, stops, etc) ahead of time and stick to it, chasing will only lead to you getting caught up in the churn. Think mid term, think long term if it helps. Its really looking like we have started the next ascent, its a good time to remind yourself why you are here, what your goals are, and if you haven’t yet, read the damn whitepaper!

What I’m Buying

Bitcoin baby.

With this volatility in the big dog, its hard to recommend moving into anything specific. Enjoy the run and take another look when the dust settles.

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