I am making this post because I do not want my perspectives on crypto investing to be confused with other perspectives out there. Some people run YouTube channels, or perhaps some just blog on Steemit. There are different types of content available for people, some go for the cryptocurrency plus entertainment. Some go for the commentators that are more news oriented, and facts driven rather than prediction driven. There is a place for all of this type of content in crypto and I wish them all the best. I also enjoy watching many of these channels myself, whether it is video or blogging.
With my content, I strive for two main objectives:
- Correct prediction of future price potential of a specific cryptocurrency, or the market as a whole
- Accuracy in facts provided
The first point is often been my strong suit, and the second point is something that I can always work on. Accuracy is difficult in areas of low information. There is also a third objective which recently, I began to adopt and that is protecting my viewers from unnecessary risk & bad investment choices.
For the point of this post, I will focus on my correct and incorrect predictions concerning the market.
Good Calls
+291% - Bitcoin bullish viewpoint, long term - October 23, 2016 - Daily BTC high for that day was $656
+2,143% - Ethereum bullish viewpoint, long-term - October 21, 2016 - Daily ETH high for that day was $12.20
+700% - Total Crypto Market Cap should be in Trillions - October 23, 2016 - Total Market Cap of all crypto was at @12 billion
+920% - NAV Coin as an Investment (bullish) - Jan 27, 2017 - $0.037 per coin
Avoided loss - Chronobank ICO predicted it would trade lower on exchanges after ICO - Feb. 1, 2017 - ICO was $10, traded down to $5 on exchanges
+824% - Dash Bullish Viewpoint - Feb 15, 2017 - $19.75 DASH high for that day
+920% - NAV Coin, reiteration of bullish viewpoint - March 8, 2017 - $0.037 per coin
+114% gain since - Bitcoin ETF Non-Approval Irrelevant - March 11, 2017 - Bitcoin price high $1198 for that day
+82% gain since - Dash touches $100... BARGAIN!!! (bullish on DASH still) - March 16, 2017 - Dash at about $100... I also said in this video that Dash could crash to $50 before going higher, it did do this and then went higher.
+980% - BURST as an Investment (bullish) - March 31, 2017 video released, June 18th 2017 final sell point - Burst price at $0.00137 March 31, June 18th price was $0.0148
Avoid 22% loss - Ripple will probably drop, so wait to buy it if you want to invest - May 16, 2017 - $0.35 high in May 16, today it is $0.27
+111% - STEEM Bullish - May 26, 2017 - $0.85 cent STEEM, today it is $1.80
+209% - Ethereum Classic - May 17, 2017 - $5.90 per ETC, today it is at $18.14 --- However, I will say I am no longer bullish on this coin, even though I did not mention it in a video. Within a week or so of making the video, ETC went up huge. On this specific coin, I wonder if ETC rallied because of my video. ETC went up enough, I am no longer so incredibly enthused about it, like I had been at the time of the video. In the video I suggested a 1.2 bil market cap, but today it sits at 1.6 bil.
+50% - Reiteration of DASH (bullish) - May 22, 2017 - Dash @ $120, today it is $181
- Also notice as to my credibility, I never made a PIVX video during the hype.
EDIT: Adding to the "Good Calls" IOTA video on Jun 17th, said IOTA was behaving like a crash coin in the near-term. IOTA is down 50% since then when other coins like Dash are Unchanged. It's not just the market being down, it was IOTA.
Bad Calls?
BTC outperformed DASH (BTC +134% gain, Dash +66.9%) - Sold my bitcoin for... DASH! - March 19, 2017 - BTC PRICE: $1063, DASH PRICE: $109.40 ... I actually still anticipate a DASH outperformance so while for today, this is a bad call, for long-term investing, it's really a viewpoint I still hold.
Genesis Mining - While I still expect to earn my money back Genesis mining and perhaps even see some gains, the smarter method was to just own cryptocurrency rather than dumping it into Genesis Mining contracts. That said, I do enjoy the daily payouts. It locks some money up that you can't spend, and you receive a steady payment. Psychologically this can be desirable, but in terms of gain/loss %, the math on Genesis mining favors just owning cryptocurrency.
Carried away with bitcoin charting in my early videos - was expecting a lower dip for a better buy point that never happened
Too soon to judge
Here are some on-going calls I have, and it is still too soon to judge.
- Expect to see Dash near $1k. $800+ per coin.
- NavCoin, still bullish even here at $0.33 cents per coin, for me this a long-term play, where I am happy with their developers to keep producing solid updates to the platform, also be aware, I am earning 5% a year on NavCoin so this is a component of the investment as well, my NAV will double every 14 years
- EOS long term (it may drop more in the near term), Expect 10bil to 100bil in 5 to 10 years.
- STEEM, expect to see Steem above $5 in 12 months, I am not in the Steem $10 camp but I think it could go there, I just don't see it as certain as some, Steem needs more users, and better interface tools for social media to really soar
- ETH should hit $500... Made this call when ETH was $250 some time ago, and after the call ETH went to $400 briefly. I still expect to see it touch $500
- IOTA maybe not the best near-term but could be solid long-term, June 17th, 2017, down slightly since I made the video, what I like about IOTA (doesn't mean it will make money), but it has a free authenticated data transfer protocol, very useful technologically!!!
- Believe Bitcoin will break $3k in 12 to 18 months.
- Ripple long-term could do amazing, assuming we monitor their activity to keep gaining in the banking sector, possible candidate for banking reserves in the distant future 10+ years. Could trade into the trillions in market cap.
How do you do it?
The person I learned the most about investing from is Jim Cramer. In 2005, I read his book Jim Cramer's Real Money. His book contained some of the best investing wisdom I have ever read. It is thanks to him that I understand anything at all about what I am doing. The rules in his book are rules to follow, such as "don't turn a trade into an investment." I have read other investing books by professionals, one spanning some 500 pages. Out of the 500 page book, I learned two mildly useful things both of which I have forgotten by now. Jim's book was jam packed with practical strategy and wisdom. Some professionals treat markets like staring into a crystal ball and they think there must be something gimmicky to doing what I outlined above. That, "no one can know the future!" They will program up robots to think for them, they will get all strange with their charting patterns. It's a lot of silliness really.
Fundamental investing is understanding that we can see certain things today, and then we can guesstimate how likely it is that certain future events will occur from what we see today... events perfectly predictable from present knowledge, and then we forecast what will occur if those future events transpire. It is simple stuff once a person wraps their head around it.
Will bitcoin have more users in the future? If so, then that means as more transactions occur on their blockchain, more total capital must be tied up into the system, even if it is only tied up briefly as a system of exchange. As more capital is tied up into bitcoin, the price increases. Crypto makes it simpler than stocks!
Now, the next element of my wisdom should be talked about. This is the Holy Spirit and God's word provided to us from the scriptures (the Bible). One of my better choices above, was a Holy Spirit choice and that is NavCoin. I was not actually that interested in Nav Coin until I was praying to God about good investment choices, and Nav Coin kept coming up. I am still learning to listen to the Holy Spirit and I will not claim any sort of expertise in this area, but certainly God is a factor. Also, in scripture we learn practical wisdom things that aid in investing. One is do not yield to fear. 2 Timothy 1:7 Also, we learn that we should invest in more than 1 thing to diversify. Ecclesiastes 11:2 There is also the wisdom of giving, and in Jim Cramer's book he talks about giving 10%. This is something the Bible/Torah teaches (where Jim got it from as a Jewish person.) I was never a successful investor until I became a Christian in 2013. I would always lose money. While I had pieces of knowledge, it could never all fit together into a way that worked for my life and in the investing world. Even when I held a good investment as a lost person which I knew would go up, it did not matter because I would end up having to sell because I needed the cash for an expenditure in life. Then I would watch my stock get bought out by a large company. The credit here for success then must be given to God, because God has been able to intervene against circumstance and instruct me on better behavior to achieve success.
The Temptation
The temptations are many, but from watching Jim Cramer's Mad Money on TV years ago, I learned one temptation not to fall prey to. Jim, having to keep a television show going, had to keep producing new content. New content meant he would cover more and more stocks. More and more bullish positions would heap up into his predictions. To the point, it was impossible to follow what he really liked, or maybe he just liked most everything with a few exceptions. This diluted the worth of watching his show and made it a good way to lose money rather than make money.
In my YouTube channel, I face the same temptation. Viewers want me to do videos on their coin. They want me to say "their coin is a good investment." I understand this desire. Their coin may very well be a great investment, and it may even be better than the ones I am talking about. The problem is I have to be confident enough about the call to say for myself I think it is a good investment. Should I just cover everything, and be positive on most everything, dilution of my perspective occurs. I start making calls I should not, I start going with what other people are saying, and as soon as an investment perspective becomes merged with the crowd, it is no longer a good investment perspective. This is the nature of the markets, an element of contrarianism is required. When Ripple was doing amazing, I made a video on it, mainly because I knew it would get a lot of views. In that video, I also saved some people some money if they listened and told them not to buy right now because it would drop. Investing into the pull backs is something I learned from Jim's book and it works if people are willing to be patient enough.
There are some coins I want to look into still, and plenty of more content I can make, but if you ever notice my channel tends to stay around certain coins, it is because I would rather stick with what I am most confident in, rather than hunches or dilution of viewpoints, where "everything is a good investment!" When crypto is in a bull market like we have seen, pretty much everything goes up. What comprises a good investment are those things that hold value when the market goes down and they come up stronger on the other side.
Unrelated to this post, ... could you do a video segment on trading SBD for Steem in the "Market." You are the accountant and the king of spreadsheets so if you could demonstrate how to understand the SBD/Steem relationship. When SBD goes up relative to Steem if that is good or bad for trading? I noticed last week I sold SBD for $1.30 per Steem and this week it is $1.60 per Steem so confused about how that works. I am sure this is 4th grade math, but can't wrap my head around it.
It's a good point. Until I make the video, SBD should in theory as it is crafted today, should always trade above $1. The reason being, if it trades much below $1 USD, the witnesses will do their witness peg of how many Steem is in a US dollar. We can always convert SBD to Steem on the blockchain, meaning if SBD goes too low, people can just buy SBD, convert to Steem and buy Steem cheaper than on the market, and sell those STEEM for a profit. This pretty much prevents SBD dropping below $1 USD. What some people do to take advantage of that is when SBD drops to $1 USD they buy it. Then at some point in the future, very likely it spikes up some, who is to say how high. Then they sell SBD.
The exchange of STEEM to SBD is not really linked. There is no reason to think there should be a correlation between STEEM and SBD price. In the future, STEEM should keep going higher and should leave SBD in the dust.
Regarding "Bitcoin ETF Non-Approval," the Winkelvoss ETF was re-submitted to SEC. Do you know where it stands as far approval/rejection?
Yeah, I had heard they were getting a another chance with the SEC. Not sure as to the status of it. Certainly would be a crypto bull market if one of those goes through.
Really great post. Investing in what you know and investing into pullbacks is essential for long term profit, but too few stick to these rules b/c they can't control the man in the mirror. Like I've said before, I really appreciate your articles b/c there's no fluff, just great content. You've got a helluva nice track record with your calls. Very nice work.
The most important thing though, with God, all things are possible. Have a great and blessed rest of your 4th of July!
OK - Time to get some value meal cheesburgers and read on entries for #STEEMWARS !
Now this is a really great post no doubt about it i just followed and upvoted this post. You have gained a loyal follower
Hey, this seems pretty sincere. Quite good disclosure. I guess the later you get into the game the easier it is to make bad calls.
It's been a very good investment. I will follow you because I am a beginner in crypto and your advice is gold. Thank you
Hey mate, thanks for sharing this.
Transparency and accountability aren't traits that you'll find focused on by the thousands of trading gurus online...
Interesting, crypto-investor. +1
I do programming tutorials here (Ethereum etc.) and some fundamental math, but to be honest I am a bit overwhelmed by all this tech, and even steemit itself :O
Programming is great for crypto. I'm doing a web development project with a friend at the moment for a specific crypto. Very exciting all the potential available out there.
Haha, as soon as I searched for "blockchain people" on LinkedIn, people contacted me for trade analysis jobs ^^
Intresting stuff for a crypto-investor like myself. I am just waiting a little till segwit2x has passed and meabye even wait till after hardfork in october 15th. But I will be following your blog for sure. Love it when someone experienced dares to trow numbers on crypto and giving his opinion. Cya around! greetz
Interesting read
The two most important goals right there.
i found you through your youtube channel and am following you now. This is some seriously good predictions. Upvoted.
I do write daily blogs on silver, gold and inter-linked world events along with cryptos. Feel feel free to check it out and most importantly comment.
Here is my Top 10 list.
https://steemit.com/cryptocurrency/@cryptosphere/top-10-cryptos-of-the-future-july-22-2017-a-weekly-ranking-of-the-best-place-to-put-your-money-in-the-cryptosphere