It’s been five months since I started my crypto-experiment, and my portfolio is still way down. Like really down.
But at this point, I don’t even care that much. It’s been almost six months, and while things aren’t going that well, I fully expect that to change in the future.
There’s still a lot of time left for things to turn around.
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 more than three years! What’s losing $1,000.00 compared to missing out on a gain to $10,000.00? Or more? For potential like that, a thousand bucks is nothing.
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 Monday, June 18th.
WEEK TO WEEK ANALYSIS
Week #1 – 5/18 to 5/25
Last month’s final week ended at $380.67. Let’s see what’s changed.
Here’s the start of week one:
And the end – down about fifty bucks.
Week #1 Low – May 25th – $322.54
Week #1 High – May 20th – $390.28
Week #2 – 5/26 to 6/2
Here’s the start of week two:
Up two whole dollars from last week’s end.
And here’s the end of week two. Pretty much where we were before.
Week #2 Low – May 28th – $291.48
Week #2 High – June 2nd – $319.77
Week #3 – 6/3 to 6/10
Here’s the start of week three:
And the third week’s end.
Yipes. Down almost $70.00.
Week #3 Low – June 10th – $263.84
Week #3 High – June 3rd – $326.40
Week #4 – 6/11 to 6/18
Here’s the start of week four:
Holding firm at one quarter of the portfolio’s original worth.
And the end of week four.
Week #4 Low – June 18th – $234.63
Week #4 High – June 11th – $257.54
This month’s variations between highs and lows was pretty average. The highest high was $390.28, and the lowest low was $234.63, a difference of $155.65, and a loss of almost 40%!
Remember, when it comes to cryptos, never bet more than you’re willing to lose!
CONCLUSION
Clearly, the bloom is off the rose when it has come to crypto lately. Ah well. What can you do? Either buy more or wait it out – and I am not buying more, so that pretty much just leaves waiting.
I try not to think about it too much, with the hopes that in a few months time, it’ll go back up.
I’m hoping next month is a little better – join me here to find out!
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