[Resurrection] BTCFX asset new high! And the reason I didn’t ride Bitcoin’s big surge
Hello everyone, a爆上げ bull market! I am simply astonished by Bitcoin's wild rise@xi10jun1.
A month after a big loss in June. Asset value reached a new high after a long time!
That said, I haven’t reached 120,000 yen yet…
And continuing from last time, there is an important notice for readers of the paid section, so please read down to the bottom if you can.
※This column is designed so half of it can be read for free. Of course, if you read up to the paid portion (weekly updates for 400 yen per month, about 80–100 yen per column), I would be very encouraged!
This Week's Performance (July 14, 2017 to July 20, 2017)
First, as usual, the performance. I’ll announce the gains and losses first.
- Last week (through July 13, 2017) assets: 113,039 yen
- This week (through July 20, 2017) assets: 117,738 yen
- Change: +4,699 yen
Alright! Asset high is back! It’s recovered!
About a month after a big loss in June, I’ve finally recovered to this point! It was long, long road. I’m refreshing my mindset and will continue to grow my assets from here!
And now Bitcoin is surging, including those gains, so why did I not ride this wave? I’ll write about that.
A Crisis Split Was Averted
To put it bluntly, it seems the dangerous type of split will be avoided for now.
For details, please see Tetsuya Oishi’s blog →Bitcoin's Latest Outlook (7.19) | Bitcoin InstituteI hope you check it out.
※Although this column's title slightly overlaps, I’m a later arriver, so to avoid confusion I’ll change my column name soon. I realized later that many blogs/sites use an “Institute” or similar name…
Technical explanations are quite difficult, but Bitcoin continued to rise, as if to back that up.
Reasons I Didn’t Ride the Trend
The reason I didn’t ride this steep rebound up trend is simply that I followed my rules.
“If I don’t understand something, I won’t touch it.”
The outcome of the split showdown wasn’t clear. In such an unclear market, it’s okay not to trade aggressively. I thought maybe I’d buy if it fell below 200,000 yen, but it rebounded instead.
Also, due to my work and preparations for the event I hosted, my Bitcoin trading had already become somewhat reduced.
As I’ve written many times in the column, you should take positions when you understand them. If you continuously trade just because you think you’ll profit, your market sense will degrade and you’ll incur unnecessary losses.
Moreover, during such times, your brakes can fail. Later, a large portion of assets can drop, causing great pain…
Free Summary: Protect Your Assets and Avoid Losing More
First, protect your assets. Trading is a battle against one’s own desires, and if you lose there first, you’ll keep losing on positions after that.
Anyway, with margin trading you can enter sells or buys, so the current price doesn’t matter.
Wait for the opportunity without rushing.
Now, this big rebound hasn’t meant I did no trading at all. Where exactly I took positions to gain profits—this will be written in the paid column.
About the Paid Column Access
Recently, fx-on sent an通知 about “possible leakage of personal information due to unauthorized access.” As a result, credit card payments are currently unavailable, so access to the paid parts of the column may be blocked.
Therefore, for paid subscribers who use credit card payments, please purchase via convenience store payment or bank transfer if possible.
Thank you for your cooperation.
Endnote Corner 1: Shopping with Bitcoin!
Actually, on the overseas e-commerce site “FANCY,” you can purchase goods with Bitcoin! The shipping is a bit high, but it offers stylish items you won’t see in Japan!
I’ve summarized how to use FANCY on this blog, so please take a look here.
- →FANCY (Fancy) account creation, registration, settings, and how to purchase商品 flow explained! | Yutori Generation Investor jun
- →How to Buy Items on FANCY with Bitcoin (Bitcoin) | Yutori Generation Investor jun
Endnote Corner 2: How to File Taxes for Bitcoin Margin Trading (BTCFX)
BTCFX earnings also need to be filed properly! I’ve written a blog post about confirming this with the tax office, so please refer to it.
※Even tax offices or tax accountants may have differing views. Also, laws can change, affecting how you file. Before filing, be sure to confirm with your nearest tax office or a tax professional.
※ The free portion ends here. The rest provides detailed analysis and future outlooks, so it’s paid. If you want to read more, of course, subscribing as a tip is greatly appreciated! Thank you for your continued support!
