Dacxi Blog

I was not surprised to see Bitcoin prices, and therefore all crypto, down 10% on May 10. It was the third Bull Trap played on the crypto markets in 18 months! A Bull Trap is when everyone says prices are about to rocket up, ie all the basic Bulls are positioned and ready to go. Then the market is ambushed by some big traders who smack the price down producing a major collapse in prices within a few hours. It happened on 15 November 2018. 25 September 2019 (ahead of the Bakkt launch). 10 May 2020 (ahead of Bitcoin halving). It happens between 00–04.00 UTC+1200. Early morning Asian time. The perfect time. European traders are asleep, America has stopped trading for the night and Asia is just waking up. It is the longest period of ‘quiet time’ with the minimum number of active traders. Crypto is dominated by Chinese trading whales. So imagine those big traders. On 100 times margin. Their $50 million investment can be leveraged into 100 times meaning they can smack the market with $5 billi...

"Despite being relatively new to crypto, having purchased earlier this year, it is the logical progression of both my career and my attitude to wealth!" I had a fairly nomadic childhood, moving frequently due to my Dad’s work, which meant I attended 8 schools in total! Unsurprisingly it wasn’t overly conducive to a love for school, and whilst I was bright, my A-level tutor, half way through the course, tactfully suggested I may wish to consider getting a career rather than continuing in formal education. Luckily, this suited my desire to achieve in business over more studying for academic qualifications that I may never end up using. I already have a weekend job at Whipsnade Zoo, who kindly paid for me to attend collage as a chef, and I was quickly promoted to a catering manager. Whilst it was good fun, it was fairly limited in career progression, so I ended up leaving for a variety of jobs in high street retail/catering over the next decade, cumulating in me being an area ma...

If you talk about the crypto-assets world, you normally have to talk about Bitcoin. It’s two thirds of the market buy value. To the world, Bitcoin is crypto. Many exchanges talk only of Bitcoin. Their marketing says, ‘Buy Bitcoin here’, ignoring the fact that they also list many other cryptos. So many people proudly tell me, ‘Yes I own Bitcoin!’ I ask, ‘Is that all the crypto you own?’ They normally look at me quizzically and reply ‘Yes.’ So, I say ‘Bad luck’. They frown. Buying just Bitcoin simply shows you are ignorant of crypto OR, most likely, have been badly advised. Invest to Build Wealth versus Gambling. Today there are 6,527 listed crypto-assets on exchanges around the world. Bitcoin is just one. People who buy just Bitcoin probably know nothing about the market and lack confidence. They buy the ‘big boy’ Bitcoin and hope for the best. They are NOT investing in crypto to build wealth. They are gambling, as surely as if they were buying a lottery ticket. Recent British governmen...

I’ve spent most of my life in Sussex, and had a great childhood there, with my mum, a full-time stay at home mum, as was typical of her generation, and my Dad, a project engineer. Financially, my parents were very conservative, living within their means, and didn’t believe in debt with the exception of a mortgage on their home. In terms of decision making they definitely ‘played it safe’, whereas I’m more entrepreneurial and willing to take sensible risks for an upside! I also enjoyed working hard to play hard and developed a taste for a few of the finer things in life. At school, I wasn’t a natural academic but stayed an extra year to get the qualifications that would bag me a decent job with a big company. My real forte was economics and commerce, so when I left school at 18 I got my first proper job in retail banking for Lloyds. I’d already had a school weekend job at WHSmith where I’d picked up some good social skills with customers, and learnt to be responsible and organised whi...