December 2017…Borrowed Crypto Time

I am interrupting Podcast week here on the blog to just say…. WTF!

This is a month in the markets that will remembered for decades to come.

I don’t believe the traders and the investors comprehend the fragility of this moment in crypto.

The acceleration of gains in crypto stocks and tokens can of course continue, but I sense we are at some sort of tipping point. Either this time it really is different, or a shakeout of mighty proportions is at hand.

I happen to be back in Tel Aviv for two days days soaking in the crypto air with a few friends from Toronto and working on a project and deal that we want to get closed by the end of the year.

I woke up this morning in Israel to see prices of tokens and crypto that made me shake my head for what seems like the 30th day straight.

I sold my last Augur in the 40’s, up from 20 a month ago (outlined on my blog) and this morning it hit $100.

I sold some EOS at $7, up from $1 just 30 days ago (outlined in my monthly Peloton) and it hit $12 today.

My friend Chris outlines four listed tickers (GBTC, OSTK, LFIN, RIOT) that are part of crypto mania.

Here is a picture of my Stocktwits watchlist yesterday morning that sorts by biggest gainers. A cool feature of the Stocktwits watchlist is it allows you to mix crypto tickers with your stock tickers. Notice anything?…

The .x tickers are crypto and token companies that are having overnight gains of 100 percent.

Only two names were actual stocks…

Riot Blockchain which itself was a biotech stock a few weeks ago before the marketing department said ‘Hey, let’s add blockchain to the Company name and mine some crypto’). The stock is up 1,000 percent. Today, they announced a secondary deal got done at $22/share and the stock still traded above $40.

And CGVW (Calavo Growers) the largest Avocado grower and food of the millennials…natch!

The dollars at stake and eventually lost when the party ended in March 2000 were much larger than the dollars at stake today, but I still have the sense that the froth of December 2017 both in the markets and in the air is something we will look back at and go…yep what was I thinking.

In the meantime, Tel Aviv is humming and I am hoping that ‘religion around software code’ combined with network effects means this time it is really different.

Congrats to all the young people around the world that created this beautiful and wild phenomenon. I am rooting for an outcome different than March 2000.

Disclosure – Long Bitcoin, Ethereum, ZCash and EOS