My Crypto Rollercoaster

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If you’ve read my blog about how I got my first bitcoin you’ll know that I was sitting on just 3 BTC for the first half of 2017. However it wasn’t until on August 7th 2017  that I noticed my 3 BTC was now worth a combined value of $10,000 and this was the turning point where  I started to speculate on the crypto market. I kicked it off by jumping on the Ripple bandwagon. This didn’t do much however it set me on a path that led me to invest in several multipliers.

Between August 2017 and January 2018 I had rode 10 x investments on IOTA, NEO, TRON and SKYCOIN which had effortlessly catapulted my crypto holdings into the millions.

Unfortunately for me I was hooked in to the lure of ICO’s by this point. I started investing heavily and 2018 was looking like it was going to be my bumper year.  In fact I had just under 100 BTC invested in ICO’s and I was foolishly expecting 10 x gains across the board as an average.

In fact I was so heavily invested in ICO’s I actually finished the year with just just 2 available bitcoins left, and not at any point to it dawn on me how insane it was to have this sort of investment exposure. The rest of my bitcoin stash was all tied up, but I was fine with this.  I was going big or going home, and I was holding out for a massive $10m pay off in crypto from my ICO investments.  This wasn’t an unreasonable thought, because some actually started off like this.

The first ICO to hit in 2018 was INS Ecosystem which has now rebranded to Insolar. The coin hit $10.93 on January 15th and I sold at the right time giving me 5 x return. My 2 BTC stack was now 7 BTC, and I still had close to 98 BTC tied up waiting to drop, but sadly the entire market was about to pop.

Then it happened, 24 hours after I sold my INS for BTC the marketcap plummeted from $828bn to $597bn and this is when all my problems started to unfold.

Nearly every ICO I had invested in was delaying launch for the markets to become more favourable. This wasn’t ideal and when one of the ICO’s actually went 4 x it was eventually shut down by the SEC for fraud. Crypto was starting to wobble, and it was starting to wobble massively.

By mid Feb the marketcap had tumbled further to just under $400bn, but then there was a glimmer of hope. The bulls returned and the market started to look a lot more positive, at which point I invested in a new start up to help ICO’s manage their social media accounts.

This would turn out to be another mistake, as all it did was put me in front of scams and incompetent CEO’s. I had unknowingly positioned myself in front of people that were all adding to the overall problem in crypto.  The entire crypto market was looking bleaker than bleak, and through a combo of blind hope and ignorance I continued to throw money in to my business and in the odd ICO here and there.

Then just when it all looked like doom and a gloom, a 5 BTC ICO investment from October (Aphelion)  hit coinmarketcap in May giving me a 35BTC landslide just when I needed it. It couldn’t have come at a better time either as despite having been sober for the most part of 4 years, all of this crypto stress was getting to me and I was in full blown self-destruct mode.

Thanks to this investment I used some of the profit to invest in the Howdoo ICO (still a sucker for an ICO amidst all this) and I sold 5 bitcoins to raise €20K to pay for a stint in rehab for 30 days.

This was a good 30 days, I was clear from technology and crypto and I was able to get my head straight. One thing is for certain though, crypto had more turbulent times ahead, and I was in the driving seat to witness all of this.

I realised that my YouTube channel was as chaotic and disjoined as my life was during the crazy bull run, so I decided it was time to ramp things up a bit.  I took out a 12 month lease on a studio that I could live stream from regularly and stay abreast of the crypto markets.

I have to admit, it’s quite amazing what happened next.  I started connecting with many well known and respected figures in the space, including voIP inventor Alex Mashinsky who I had the pleasure of interviewing about his lending project Celsius, but also tech guru and super crypto bull John McAfee, who agreed to join a crypto adoption debate that I hosted.

Despite the market cap slumping, I was thoroughly enjoying connecting with people in the space, and I felt that my own personal profile was rising.  I was even being mentioned in popular crypto publications like Ethereum World News, Bitcoin Exchange Guide  and Cryptovest.

But despite all this upward profiling, I found I was getting entirely caught up in trivial issues such as spats with ICO’s that I felt had misled their investors as well as other YouTubers.   It was time to start listening to what the crypto space wanted to talk about, and this is what set me on a more positive path, and allowed me to discover Digitex Futures just in time for a 10 x investment in a bear market, which also led me to the recent Malta Blockchain Summit that was a huge eye opener for me.

So now with only one month left in 2018, I sit with a modest portfolio that is shrunk by more than 2000% this year, pondering the question “What does 2019 hold for crypto?”

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