Even the Bitcoin can not constantly mark new highs.

What the Bitcoin has developed here in the last few days has almost parabolic features. In a nearly vertical upward movement it is difficult to predict where this will end. But one thing is clear. It ends. How things can end then, the view points back into the phase after the All Time High in December 2017. Enclosed the logarithmic 1-day chart of Bitcoin (BitStamp on TradingView). No, I do not want to paint the devil on the wall here or disturb the party. But I see it as a task of this blog to show in bearish phases, when it could go up again. And vice versa. To point out possible risks in bullish phases.

I would like to use this blog to take a closer look at my behavior in the current phase, as there were questions from the different release channels. Those who have direct insight into my eToro account, CryptosWithB66, have seen me close all positions that were in profit  until Tuesday noon. There remain three small long positions in Ethereum, Ripple and IOTA. Together they make up 5% of my capital, with which I am currently invested. I gradually sold on the way up. Sold too soon? May be. This will be seen at the latest when, if and when the Bitcoin corrects and  with him the Altcoins.

Yes, the eToro account CryptosWithB66 follows a buy-and-hold strategy. Had this upward movement been normal, I would certainly have held more positions. That was anything but normal. Parabolic and thus dangerous. It is clear who wants to get into the big chance must live with an associated increased risk. Since in my description of the invest strategy I also promised my copiers to invest as risk-free as in the Crypto Market possible, I decided to take the lower risk and thus the smaller chance. Was that correct? Time will tell.

In short. I’m sitting on more cash than before due to realized gains, and I’m waiting for the market to correct gradually. The values ​​that I favor have not changed. They are Bitcoin, Ethereum, Ripple, Bitcoin Cash, IOTA and Litecoin. A note at the end. If the correction of the current bubble, and I see it that way, will be bigger than expected, then I can imagine, even to go short. Because the correction of a bubble also follows certain laws and time periods.

Oliver Michel

Invest in CryptoCoins with Block66

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Risk Warning
Please note: The information does not constitute an offer to sell the treated share (s) or crypto currency or any solicitation to buy or sell securities in general. It is based on sources that the publisher believes to be trustworthy. Nevertheless, the liability for pecuniary loss, which may possibly result from the use of the statements for their own investment decision, is excluded. We note that stocks and crypto currencies are inherently risky. The total loss of the capital invested can not be excluded. You should seek further advice before making any investment decision. The publisher may hold short or long positions in the treated stock (s) or crypto currency (s). Copyright: © 2018 block66.de. Reprint (also in part), commercial redistribution and inclusion in commercial databases only with the written permission of the publisher.

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