Bitcoin has been on a tear recently, starting a five thousand dollar climb since Christmas, breaching $28,400 while I slept. It’s been whipsawing a bit the past couple hours, forming a doji on the four hour chart. Alt pairs are trash right now, and probably will stay that way until bitcoin decides to take a breather. Ethereum is running on the USD chart, but I’m not doing anything right now other that continuing my dollar cost averaging.
I’m almost giddy thinkin about what’s going to happen Monday morning if we stay at this level or above. GBTC and the other crypto equites are going to blast off, it will be insane.
I’ve taken off all of next week, which will be my annual Feast of Fools celebration from here on out. Missus is still working, but I’ll be able to hang out with the kids and do whatever I want without having to worry about Zombie, LLC. Who knows, maybe I’ll never have to go back at this point. Ha ha, not likely. I’m nowhere near the point where my crypto holdings can provide the income I need to pay the bills. For now, it’s just a race to save and set aside enough fiat for the eventual 25-30% drawdown/shakeout that should be coming.
And if it doesn’t come, then that’s OK also.
I’ve positioned myself very, very well in my IRA. It’s sad that I can’t touch any of it for another quarter century, but that’s the rub, I suppose. I haven’t maxed out my contributions this year, as I’d rather the money go into BTC directly. I may reconsider before filing taxes next year.
I had some conversations with my mom, dad, and brother recently about what’s going on. My dad read something on Yahoo that bitcoin was “splitting”. Not quite sure what he was talking about, maybe he read something about the halvening? Dunno. Both parents are doing well, thankfully. Dad gets the economic argument about money printing and currency debasement. I didn’t get into it that much with her. Anyways, her husband is more savvy about finances. He’s been into the Motley Fool and forex and stuff like that. I bought him a copy of Burniske’s Cryptoassets, several years ago, but as far as I know, he still hasn’t bought any. Who knows, maybe in a year I’ll be caught up to them.