Once again another new week, and another new edition of the Weekly Cryptocurrency HODL. This week most of the cryptocurrencies have massively declined. From the previous week $500 billion total marketcap, it has declined somewhere in the regions of $300+ billion. Bitcoin also fell from $10,000 which reached a low of $6000 in some point. Others see it as a loss, but hodlers like me see it a perfect opportunity to buy in while most of the cryptos are in red. Sale Sale Sale! Let us get started then.
What is Cryptocurrency HODL?
It is a fantasy style of holding cryptocurrencies per edition I have an imaginary $100 to invest in my choice of crypto. The main goal of this is to see if investing in crypto is profitable in the long term. We buy the crypto with no trend analysis, we buy in maybe on a dip, or when it is at its All Time High.
Disclaimer: The investments here in this post is not true. This is just an experiment to see if holding cryptocurrencies are profitable. This is not investment advice. Invest at your own risk do some research first. Invest only money you can afford to lose.
First things first
Let us take a look at the stats last week from our cryptocompare portfolio.
Previous Acquisitions
5.9666 STRAT at $4.13 each 13.9665 KMD at $1.78 each 26.2283 STEEM at $0.9532 each 30.885 ETHOS at $0.8095 each 1845.15462396 ADA at $0.02710 each 0.7323861139592793 REC at $68.27 each 6.622516556291391 OMG at $7.55 each 8.090614886731393 LSK at $6.18 each 220.1876879852386 XRP at $0.227079 each 394.548912228649 SNGLS at $0.126727 each 752.5247204370664 XLM at $0.066443 each 12.85347043701799 RDN at $3.89 each 23.31002331002331 EOS at $4.29 each 12.22493887530562 WTC at $8.18 each 73.52941176470588 VEN at $1.36 each 0.388455114011576 Litecoin at $257.43 each 69.06602020871751 XLM at $0.723945 each 23.58490566037736 ADA at $1.06 each 16.55629139072848 POWR at $1.51 each 5.652911249293386 XRB $17.69 each 0.8926977325477593 ZCL $112.02 each 3232.793456826043 DENT $0.030933 each
Stats this week
Status recap
Last Weeks Stats
Profit/Loss: $ +2,687.04
Top Gainer: ADA(+$850.77)
Biggest Loser: REC($-49.03)
This Weeks Stats
Profit/Loss: $ +1,649.99
Top Gainer: ADA(+$587.84)
Biggest Loser: REC($-49.75)
Looking at the stats our holdings have taken a hit of $1000 from the previous edition or last week. Cardano is still at the top with a $587 gain, the top 3 looks solid same as last week with Vechain, and Stellar with $217, $196 profits respectively.
We now recap the loser coins, look at what happened to the shitcoin which is Regal Coin the $50 investment back then is now $0.25. It is the super loser of all the coins I have experimented on, it really did followed Bitconnect. Rounding up the bottom 3 is Nano, and Litecoin. I am surprised that Litecoin stayed at the bottom, with some recent announcements on Litepay, I thought it would strongly recover. Nano enters the bottom 3 with a huge dip. It currently undergoes rebranding, I believe it will recover its price in the future.
That rounds up the recap for this week. Let us now invest our imaginary $100.
Spending Breakdown
We will go all in on Cryptocurrency this week same from last week
$100 - SA;LT
21.97802197802198 SALT $4.55 each
Note: Prices may vary as the portfolio and acquisitions are made ahead of time.
Disclaimer: The investments here in this post is not true. This is just an experiment to see if holding cryptocurrencies are profitable. This is not investment advice. Invest at your own risk do some research first. Invest only money you can afford to lose.
Final Things
Now let us see the portfolio once again after adding SALT
If you want look into the portfolio you can visit it here:
https://www.cryptocompare.com/portfolio-public/?id=119332
Thank you for reading, Catch the next edition again next week.
Image, and Information Sources:
http://www.cryptocompare.com