Market report

TO HODL OR NOT TO HODL

London Block Exchange

17th April 2018

Trading vs. buying and holding. What is harder and what is best?

TO HODL OR NOT TO HODL

Trading vs. buying and holding. What is harder and what is best?

The top 100 cryptoassets increased less than 1% on average over the past 24 hours. Bitcoin failed to make the splash some permabulls were anticipating - or should we say 'shilling' - on mainstream media as the U.S. tax deadline neared. There's no clear evidence of a direct relationship between 'tax selling' and this downtrend, despite the great theory behind it.

Meanwhile, US tax accountants are scratching their heads and many American traders are planning to dodge their fiscal obligations. If only they lived in one of these fiscal crypto havens! Moreover, last week was the best week of the year, yet that didn't move the needle in the haystack. Thus, the question is whether to hold or try to trade some possible swings. For instance, these bitcoin weekly moves, or even yesterday's 20% ADA jump; a speculative move correlated with Cardano's new exchange listing.

The doctrine diverges but it's definitely worth the discussion. 'Hodl' was coined in this drunken 2013 post and has since become associated with a long-term strategy that avoids trading. However, it's a difficult tactic in our 'action-oriented culture'. Especially knowing that bitcoin 'hodlers' could have sold back in late December and bought back more than double their stack over the past couple of months. What to do then? Learn, educate yourself, do your own research, and decide if you want to change the size of your initial holding or its fiat value. _Pro tip: _you can even do both!

TO PROTECT OR NOT TO PROTECT

Playing it safe vs. flaunting your wealth. What is harder and what is best?

As our trading app is now live, we believe knowledge should be 'freed' and have therefore decided that all LBX members will receive the newsletter in the morning. On that note, shortly after yesterday's newsletter was delivered,  one of the most influential ICO advisors was hacked. 

Ian Balina is a vocal personality that rose to fame by flipping a small initial investment (between £15k to £55k; his initial tweets have been deleted so we can't confirm, but we know he was putting at least £3.5k per month for a while) to £2.8 million, in less than an year. All this through ICO investments, albeit partaking in some controversial ones. TheNextWeb even claimed some of these were sponsored - a wide-spread practice that is so frowned upon,  even Ian avows it. 

However, the entire misfortune has doubtful contortions, like other situations that concern him. During a live YouTube stream where Ian was showing his famous Google Sheet used to assess ICOs - one of the many shared around in the industry - he was booted out of his own Google account. The rest is history. Moral of the story - protect yourself! If you're a developer, did you know the Ethereum Foundation has grants for such security projects?

WHAT TO LOOK OUT FOR

Filter the noise and stay ahead of the pack

  • Blockchain Expo London starts tomorrow in Olympia, London. Get your free or paid, two day tickets here. Here's their Twitter.

  • The London meet-ups are back in black. There are at least two events tomorrow - Lisk and Waves. Did you know premium LBX members also get access to our breakfasts?

  • Do you like trading? TradingView is one of the most widely used platforms. You can use it to track prices across multiple exchanges simultaneously with these aggregated tickers.

WHAT TO READ TODAY

An insight a day could give you more profits to play

  • hodl
  • permabull
  • bitcoin
  • BTC
  • tax
  • ICO
  • hack
  • ian balina
  • cardano
  • ADA
  • ethereum
  • blockchain expo
  • tradingview
  • lisk
  • waves
  • cryptokitties
  • coinbase