Yesterday I had the pleasure to speak with a man named Didi Taihuttu who has just sold his house, three cars, and a motorcycle and bought cryptocurrencies. A daring step for sure but what really struck me is that Didi mentioned, he doesn’t see what all the fuss is about or even understand all the media attention. He’s simply trying to show his kids that material possessions aren’t everything in life and that they’re happy with whatever the outcome will be. You can follow Didi and the Yolo family on Twitter where they are documenting their new world adventure @yolofamtravel We wish them all the best!


All stocks seem positive over the past 24 hours but the Dow Jones is really flying. After crossing the 23,000 mark on Tuesday, it’s come up another 160 points on Wednesday, outperforming the rest of the stock markets by far.

Not that 160 points is such a big move mind you, it’s only 0.7%. The more impressive thing is that stocks just never seem to go down as they have adopted the famous fabled Tortoise’s attitude, “slow but steady wins the race.”

It’s now been almost two years since the last time the market has seen a correction of 10% (orange) and the Dow hasn’t even seen a 3% correction since April (yellow).

The Hare

If stocks are the Tortoise than bitcoin is the Hare.

Volatility on cryptocurrencies has been a marking theme of 2017 but in the last 2 weeks, it has been raised to a new level.

The following chart is a weekly candlestick chart. So just take a look at the last two candles. You can see last week’s gain was a total of $1300 from the low to the high. This week the action has been less one sided but not any less volatile, creating excellent opportunities for day traders.

There’s such a huge divide between bitcoin supporters and naysayers too. Yesterday, I read a 20 page report from UBS who was saying that they don’t see it as likely that Bitcoin will be majorly adopted in the future. Of course, they failed to mention that Japan is already well on the road to adoption.

This morning, I came accross this quote, which I found a bit extreme as well.
Tim Draper on Bloomberg Television

Certainly, if the financial revolution came that quickly it would have devastating effects. The world would probably benefit from some kind of middle ground between the two above opinions.

Something happening in New Zealand

I must admit that I hadn’t been paying that much attention to New Zealand’s recent elections but seeing the NZD tumble this morning is extremely exciting. The move seems to be based on the news of a new Prime Minister, Jacinda Ardern.

You can see the huge move on the NZDUSD, which just fell below 0.7050 for the first time since May….

The reason that this dip is so excitng is that New Zealand currently pays one of the highest interest rates in the world. So entering a buy position in eToro you actually get paid to hold the position.

Against the USD, it’s not so much, just 15 cents on a 10,000 unit position. However, against the Yen or the Swiss Franc, you have a nice daily rollover…

For example, and of course, this is not trading advice, if you have a buy position on the NZDCHF of $10,000 on 25 times leverage you earn $18.79 per day regardless of what happens to your profit and loss.This type of trading can be useful whether you are a tortoise or a hare or anyone in between. Wishing you an amazing day ahead!!

Error, group does not exist! Check your syntax! (ID: 3)