Get Your Investing Mojo Back

gold-colored Bitcoin

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Crypto Market Musings

Bitcoin was recently seen trading at around $27,000 as of this writing and has been down about 6.5% over the last seven days. Ethereum was seen trading at around $1,800 and has been down about 4.5% over the same time period. Welcome to crypto allergy season. Some weeks will be good. Some weeks will be sneeze central. And some weeks will make your eyes water. This felt more like a sneeze-inducing week.

Bitcoin (down 5% over the last five days) is starting to decouple from the Nasdaq (up 2% over the last five days). We’ll see if it holds. But if the two aren’t moving in tandem, it represents a change from the past several months.

Two of the bigger market makers in crypto (firms that help provide liquidity to the space) are scaling back their operations, according to Bloomberg. This could lead to increased volatility in the space.


What I'm Thinking About

I started working out again this week. After two years of inactivity due to a variety of injuries — including a badly broken ankle — it’s time to get back in shape. I tried a CrossFit class on Monday. I boxed yesterday. And I am in some serious pain.

I used to box five times a week in addition to running three to five miles a day. So I know I can do it. I just need to fight through the pain and get back in the groove. Investing can be like that at times, too. Sometimes you forget to check your portfolio. Or you’re too scared. Or you feel like you don’t have the time.

But you need to fight through that. Now is a good time to do some spring cleaning and rejuvenate your investing mojo. So if you haven’t checked your portfolios — stocks, crypto, real estate, etc. — in a bit, take some time this weekend to look at them. Get rid of positions that are holding your portfolio down. Add some positions that excite you. And get your investing mojo back.


And Finally...

Bittrex, which was a popular crypto exchange for a few years, has filed for bankruptcy. According to Reuters, Bittrex still has custody of some of its customers’ crypto:

"Bittrex said that it was still holding crypto assets of U.S. customers who did not withdraw funds before April 30. Those assets are 'safe and secure' and Bittrex said it intended to ask the bankruptcy court for a limited re-opening of customer accounts so that the crypto could be distributed back to customers."

We’re always disappointed when a crypto exchange folds. But this is what happens when a popular sector grows with little or no regulatory oversight. Until Congress acts or the SEC is forced to take crypto seriously, more things like this will continue to happen.


More By This Author:

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Crypto Market Starts To Thaw
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