For cryptocurrency traders, the cryptocurrency market has been exciting recently. For everyone else, it’s been chaotic, indecipherable, and above all, distracting. It’s no wonder that every time the volatile cryptocurrency market takes a dive, the financial media trumpets it’s final demise. This isn’t dishonesty, just wishful thinking. Bitcoin, Ethereum, and Ripple are like cars parked on Wall Street’s curb with their alarms blaring 24/7. Wouldn’t it be great, especially during times like these, when the market gets tricky, if those blasted horns would be quiet so we could hear ourselves think?
Sure it would, but it’s not going to be that easy.
I certainly wanted the distraction to end back in November of 2013 when Bitcoin first rose and fell. I wanted it so much that when Bitcoin began to come back in late 2016, I decided to buy just a tiny bit as a hedge against the unthinkable—another loud, meaningless Bitcoin rise and fall. Months later, I’m a semi-successful cryptocurrency trader, not a crypto millionaire or billionaire, but glad I had the sense to capitulate rather than go mad trying to hold back the tide. Even so… that old loathing (no underlying value?!!!) occasionally creeps back into my thoughts, along with, even more strongly, the desire for peace and quiet.
Most of the time, I see it differently. I seek, and seek to spread, a sort of calm within, or a least beside, the storm. I approach cryptocurrency from the perspective of the investor, meaning, at the end of the day, that I’m really only interested in knowing whether prices are going to rise or fall. Yet even with this shallow focus, it’s a remarkably deep field. Today, I offer a list of things we the market, or at least I myself, didn’t know about cryptocurrency just a few short months ago.