Are we in a Cryptocurrency Bull Market? Well perhaps. All I know is that I have been buying Crypto since September 2017. I have bought the majority of my ALTCOINS at the height in December and January. So, like many of us FOMOs, my portfolio is in the red by 40%.
My Cryptoportfolio consists of over 30 coins from BITCOIN to Basic Authentication Token (BAT) -- an ALTCOIN. I try not to look at my cryptocurrency portfolio since I do not like seeing the negative overall gains. However, with the recent Cryptocurrency marketcap increase from the low $300 billion to now being at $425,321,309,338, I started looking again and was glad to see a few of my ALTCOINS showing positive gains.
With the recent cryptocurrency bear market, I decided to change my strategy and start consolidating my portfolio. So as my crypto coins started to show a positive return, I had to decide if they were worth holding for the long term. Should I sell off the coin and move the BTC to another coin or just sell and take profits. I have moved away from the long-term HODL mentality to a "take the profits as they come" mentality.
If my portfolio was paying me for waiting, like with dividend stocks, then I would just set and forget. Only NEO and Kucoin do this now in that you receive GAS from your NEO holding and Kucoin take your Kucoin shares KCS and buys all their other coins as a sort of dividend for you. This is great and I will hold these two cryptos because it is increasing my positions.
Ok, so what are my four ALTCOIN performers to date.
EOS Up 135%
https://coinmarketcap.com/currencies/eos/
BAT up 42%
https://coinmarketcap.com/currencies/basic-attention-token/
ETHOS up 35%
https://coinmarketcap.com/currencies/ethos/
SUB up 40% . -- Here I took profits but still hold my original core investment.
https://coinmarketcap.com/currencies/substratum/
SC up 2% -- I just sold this to consolidate and decrease the number of coins I own.
For tracking my portfolio and keeping a record of all my taxable events, I use CoinTracking. I use to do this myself in a Numbers Spreadsheet but this became too time consuming. Cointracking is well worth the investment. I urge everyone to check it out. Not only for the year-end tax planning, but to give you an accurate SITREP of your portfolio.
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If you have any questions about my portfolio or using Cointracking, please post them below.