Hello friends,
I have been away for a long time. You might ask, oh where oh where have you been. The answer is simply not here. As some of you may know I was very active trading in 2016-2018, but in 2019 there was an inability to safely trade (in my assessment) because the bear market appeared to have caused many exchanges to need money (I suspect many exchanges in btc have speculative positions that maybe they should not).
Of course, these are not public companies, so I had no means of looking at their books etc. and obviously if an exchange is going under, they aren't going to calmly email you to tell you they'd like you to stop paying them fees so that you can take your money out before it's not within your ability to withdraw it.
I believe in bitcoin as much as I did in 2017 when I first bought in - and that is to say: a lot! However, while I believe it is very logical as a solution to the issues fiat money brings (devaluation of our labor as an example) I also live in the real world and in the real world I am often wrong!
Anyways, I have missed this major uptrend entirely. And as someone who has learned a little bit about trading, I generally don't buy things as they are going parabolic as they are here. That is not to say bitcoin is not going to go to 100k. It is merely to say that wherever it's going, I won't be on the ride in a trading position. At the moment, I am waiting for some kind of pullback. I see no evidence that one is here.
Recall, friends, my style is not to call tops or bottoms. I have no success in the matters, it is simply to try to make sense of what is - NOT what will be. I do not predict things. That is something people seem to not understand. I can be long while not believing I will be correct. Your position is based off of expected value and risk management (ie not going balls deep because you have an extremely high ev trade etc. in a word, not gambling)
Circumstances are such that I would feel safe to trade again in this market and so that is what I will be looking to do this year.
Happy new year friends, I hope this year brings you the happiness that perhaps the last year was meant to give.
Thanks for reading,
Shkreli
I have been away for a long time. You might ask, oh where oh where have you been. The answer is simply not here. As some of you may know I was very active trading in 2016-2018, but in 2019 there was an inability to safely trade (in my assessment) because the bear market appeared to have caused many exchanges to need money (I suspect many exchanges in btc have speculative positions that maybe they should not).
Of course, these are not public companies, so I had no means of looking at their books etc. and obviously if an exchange is going under, they aren't going to calmly email you to tell you they'd like you to stop paying them fees so that you can take your money out before it's not within your ability to withdraw it.
I believe in bitcoin as much as I did in 2017 when I first bought in - and that is to say: a lot! However, while I believe it is very logical as a solution to the issues fiat money brings (devaluation of our labor as an example) I also live in the real world and in the real world I am often wrong!
Anyways, I have missed this major uptrend entirely. And as someone who has learned a little bit about trading, I generally don't buy things as they are going parabolic as they are here. That is not to say bitcoin is not going to go to 100k. It is merely to say that wherever it's going, I won't be on the ride in a trading position. At the moment, I am waiting for some kind of pullback. I see no evidence that one is here.
Recall, friends, my style is not to call tops or bottoms. I have no success in the matters, it is simply to try to make sense of what is - NOT what will be. I do not predict things. That is something people seem to not understand. I can be long while not believing I will be correct. Your position is based off of expected value and risk management (ie not going balls deep because you have an extremely high ev trade etc. in a word, not gambling)
Circumstances are such that I would feel safe to trade again in this market and so that is what I will be looking to do this year.
Happy new year friends, I hope this year brings you the happiness that perhaps the last year was meant to give.
Thanks for reading,
Shkreli
Comment:
I failed to mention that my not returning bigger in 2020 was simply because I did not want to. I have no idea why really, I'm kind of a dipshit