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Cryptowriter: Chasing Catalysts - The Ideology of Worth in a New Era

By Thomas Wolf | Thomas Wolf's Den | 25 Nov 2020

There is a mere 37 trillion dollars in FIAT (cash) circulation in the US, while there are an estimated 1.2 quadrillion dollars in global circulation in other forms, including cryptocurrencies.  That is 1,200 trillion US dollars or more to play with on a worldwide and near-instant basis.

Now I ask you, cryptocurrencies lack tangibility, but this grants them far greater mobility - why bother with the typical cash markets when the global crypto market is quickly towering over the capitalism-on-steroids US markets?

Catalyst - noun

“A person or thing that precipitates an event or change.”

Chasing catalysts is a way of describing the phenomenon of looking for good investment opportunities by relating to market moments where investments are helplessly imminent - times when you absolutely want to invest down to the millisecond, and times you want to cash out in the same way.  This dance is the nature of the cryptocurrency market, and it’s a beautiful thing for many traders who have access to this global collection of currencies.

Abstractions or concepts and tangibility are particularly important due to the size difference between the markets, the market geography limitations, and fee limitations such as transferring gold overseas, which is extremely expensive.  It is also far safer in many respects.  Near-instant transactions with low fees are essential to the cryptocurrency global economy and its everyday operations in ways that make it superior to traditional markets, albeit risky. The ideals under which people operate are what drive the market prices.

It’s a nebulous time for the market as we see pumps across the board with Bitcoin and Ethereum in some serious bull runs with Bitcoin heading to top its all-time high and ETH headed straight for 700$ USD.  EOS is sitting happily at $3.54 USD with reasonable gains the last couple of mornings.  I find these times extremely exciting as I am always trying to interpret the feelings behind the masses, their perception of these pumps, and pondering if everyone will buy the FOMO, and if so - for how long?

A large amount of the recent Bitcoin that has been bought up has been from PayPal users - 70% last month, but I don’t see this as hurting traders unless PayPal lies about their surplus of crypto assets.  I know this is no approach to crypto security or profitability; hold your own keys, folks.  EOS has me sold despite BTC and ETH being in massive bull-runs; I feel ETH is unlikely to top Bitcoin as a #1 coin with its gas issues and a failure to deliver a layer two gas solution in a timely fashion.  They could still be resolved and turn things around, that is a large possibility, but I am not holding my breath.  EOS, on the other hand, could step up at any time.

It’s an exciting prospect that ETH and BTC may go to war for the #1 slot before Ethereum is “ready,” and I wonder where EOS will land between the two.  XRP has seen some crazy gains; I saw it double in a day a couple of days ago.  Being COVID-19 Positive, I have been staying out of the markets, which has been highly consequential financially during these pumps - simply holding for the easiest flips would have made massive profits. It is very frustrating. Bitcoin is at $19,268 USD and Ethereum is at $602 USD.

I do not believe for a moment anyone is done with this run in the Q4 of 2020.  I look forward to recovering and jumping back into the market for 2021’s Q1 - I feel as if we’re a bunch of crypto heathens out here killing it as much as one can in a day, all day, every day.  Sick with a potentially lethal bug; still looking for those perfect opportunities, ready to wake up tomorrow at 3 to 4 AM to chase these catalysts - hell or high water.

By the way, Coinbase Earn restocked their ZCash, so get on the waitlist before it is gone, mine already disappeared.  AMPL is not supported by Coinbase as of this moment - hopefully, Trust Wallet does support it.  I have removed most of my extraneous wallets.

Also, the Brave referral program has now ended.  There is no reason to use those links beyond free promotion now.  As anticipated about a month ago, BAT is making a recovery.  However, by abandoning them in the short-term I was able to make thousands via flipping DeFi like Uniswap (UNI), along with other currencies such as Bitcoin, Ethereum, Chainlink, Stellar Lumens, and more.  The market has been nuts.

I have (more or less) successfully recovered from COVID-19 and am at the end of my quarantine.  I will remain in quarantine until next Monday for safe measure; IL/Chicago is in a tier 3 mitigation anyway which means you are only supposed to be outside if you have to be, and there is an enforced curfew.  My girlfriend is still quite sick, so I am needed here anyway.

Stay smart & stay safe.

Questions and comments are always encouraged.

-Thomas Wolf

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