On 1 December 2020, I decided to take $5,000 and invest it evenly amongst 10 different cryptocurrencies. The 10 I selected were all projects I have done research one and previously invested in. Now let's take a look at the results.
The initial value of each coin was $500 and I provided the quantity initially purchased. Each week I recorded the value, red squares depict weeks I was at a loss and green depicts weeks of profit.
Biggest Winner: ZIL, value $1,429
Biggest Loser: XLM, value $351
Final Value: $5,817
Net Profit: $817
A majority of the weeks, I was actually at a loss. The only coin that was in the green all four weeks was ZIL. Five of the coins were in the red all four weeks, these were LINK, XLM, EOS, RSR, ZEN.
Comparing Today
Now, I'll see where the prices are today. With the recent surge in the price of BTC & ETH I figured my profits would surge.
Current Value: $6,751
Net Profit: $1,751
The biggest mover was RSR, which almost doubled in value. Following are BTC & ETH which are leading the bull run. Every coin except one (ZIL) increased in value. I am still at a loss on 5 coins, but hopefully these join the party and move up in value.
This experiment was helpful in realizing the importance of having a diverse portfolio. It's tough to predict how I coin will move, but not having all your eggs in one basket will help offset some risk and the profits can help negate some of the losses.
I'm going to continue holding these coins and see where they are in the next month.