My Crypto-Experiment, Month #1 – January to February 2018

It’s been one month since I started my crypto-experiment.   Let’s dig in!

 

DETAILS

 

If you’d like to get all the details, including the experiment’s overall methodology, you can read my initial post here.

To summarize:

In January, I found a blog post on buyholdlong.com that detailed how purchasing $1,000.00 worth of the top 10, 25, 50, 75 or 100 currencies and holding onto them for one full year could lead to unbelievable gains – gains as high as 10,000%!  You can find that post here.

In January of 2018 I purchased forty-three different currencies out of the top hundred on coinmarketcap.com, ranging from mere pennies per token to multiple dollars, with each currency holding an overall value of about $20.00.  I intend to hold onto these for one full year.

As much as I love money and saving, I felt like this opportunity was just too good to be true.  If I could turn $1,000.00 into even just $5,000.00, that would cut my time down for retirement by six months!  If I could turn that $1,000.00 into $50,000.00, it would cut down my time to retire by a few years!   I figured I had to try it out for myself.

 

Note:  I’ll be starting every month’s report on the 18th as that was the first day of the experiment, and I’d like to keep these reports consistent.

 

MY PICKS & RESULTS

 

This is the list of all the currencies I purchased for my experiment, including the name, ticker, number of shares, the initial price per token, the current price per token, the change from last month represented as a percent, and their current overall value.  These values were taken on Sunday, February 18th.

 

 

 

 

I used the “Coin Stats” app to track each currency.  While I did use their dashboard to tell me the current price, percent change, etc., I double checked the math myself to make sure it was correct.  To get the percent change, I simply divided each currency’s total value from the current month (February) by last month’s value.

 

WEEK TO WEEK ANALYSIS

 

Whoo boy, this last month was a rocky one, though isn’t it always in crypto?

After spending the first few days of the experiment in the green, the rest of the month plunged into the red.  The deep red.

Let’s take a closer look.

 

Week #1 – 1/18 to 1/25

The first few days started out well, with my portfolio rising up about 15% to over $1,043.00 on January 20th.  The rest of the week didn’t fare too well.

Here’s the very first day’s total – just slightly under my portfolio’s original value.

 

 

 

And here’s the end of week one.  Down just about $7.00 from my original portfolio’s value. Not bad.

 

Week #1 Low – January 22nd – $833.18

Week #1 High – January 20th – $1,043.00

 

 

Week #2 – 1/26 to 2/2

Here’s the start of week two.  Things seemed to hold up pretty OK during the second week.  On the first day, at least.

 

 

Then the rest of the week happened.

 

 

Ouch.  Over $300 lost in just one week.  My worst week yet.

 

Week #2 Low – February 2nd – $527.39

Week #2 High – January 28th – $935.96

 

 

Week #3 – 2/3 to 2/10

Here’s the start of week three, which was one of the better weeks.

 

 

 

While overall there weren’t any huge gains, there also wasn’t any catastrophic loss, which is practically just as good.

 

Week #3 Low – February 6th – $376.58

Week #3 High – February 4th – $616.15

 

 

Week #4 – 2/11 to 2/17

Here’s the start of week four, down a little from the end of week three.

 

 

 

While the end of week four actually ended on a high note.

 

Week #4 Low – February 11th – $526.09

Week #4 High – February 17th – $681.15

 

This month’s variations between highs and lows was quite large.  The highest high was $1,043.00, and the lowest low was $376.58.  That’s a loss of almost 64%!

 

CONCLUSION

 

I can’t say I’m surprised with how this first month unfolded.  The beginning of the year is always pretty volatile for cryptos, which is saying something.

While I wish it had been a better starting month for this experiment, I am undeterred!  I have no plans to sell any of these tokens, no matter how far they drop!

I’m holding out for the long term, and in that way, I firmly believe that this experiment will be a success.

 

Remember, when it comes to crypto, never bet more than you’re willing to lose!

 

What did you think of the first month?  Any questions or comments?  Please let me know!

 

          – NMI