--morning--
this morning i was pleasantly surprised to see a big'ol spike in bitcoins price as well as the market cap, making the total market cap of crypto flop up from 250 bill. to 270, and way on up to 290! the bollinger bands with a 21 day MA are showing that bitcoin is over extended and may have a correction. i always anticipate atleast a 50% correction as a previous observation.
--hype and ETF's--
crypto hype has been high lately, which could kick off another bull run! two components that might have a lot to do with this is the USA congress meeting tomorrow to talk about "the future of money" and ETF's... this is gonna be a big deal.
the big hype driver is the talk of ETF's coming. "exchange traded funds". rich people like these! basically it is a way for you to be diversified over a particular asset like "crypto projects with smart contracts" that will spread your money out on different projects with a like kind industry. it cushions the blow if one of your companies in that group do bad. my retirement account is set up somewhat similar. for example i have 25% of my account set up in tech. 20% of that is in google, microsoft, apple, and amazon etc... if amazon does awful, then it keeps me from losing alot more than to put my eggs in one basket....
anyway people are talking about what kids of ETF's should be started and who will start them, so it is a good sign.
--recent purchases--
today i added XLM (stellar), GNT (golem), and ADA (cardano) to my portfolio... it isn't much but i have always heart a lot of good things about the projects. i am interested in protocols but golem is a really great project too from reading about it and what they are trying to do. i was going to pick up some enjin coin... their marketing along generates hype, but i couldn't get onto binance or kucoin. since the market was rocketing today the exchanges might not have been able to handle it... idk... but they were not available.
--adoption--
last Saturday i went to a VR gaming center. It was totally awesome, and at payment time i asked the cashier what system they used and they said circle. i had heart that circle could, or was considering adding payment options for crypto, so i asked him if they accepted crypto. the cashier was very excited and said no but people have been asking and he is supposed to meet with someone soon to get it set up. he asked me which crypto he should use. he didn't know alot but he at least knew there were multiple crypto currencies and that there was a wallet for them called exodus! a year ago, nobody even knew about any of that so i think we are headed in a good direction. over all we need to find support above $7800 USD to BTC and head towards $8400 in my opinion.
