Intro
It's week 17 and uncertainty is back. Fears of inflation amongst the ongoing pandemic and military conflict in Ukraine have pushed the markets down once again. And we are in buy-the-dip mode again. At least I hope we are buying the dip. And although some view cryptocurrencies as a hedge against inflation, crypto markets are down. Of all the top10 coins only LUNA is up this week. Nevertheless, BTC is currently outperforming my overall portfolio. Last week it was the other way around, but the margin was quite thin. Check out the previous update here!
About the experiment
Follow along my journey of investing 100$ every week split equally into the Top 10 cryptocurrencies at the time. I will post updates about the overall growth of my experimental portfolio as well as some insights about the biggest winners and losers of the portfolio.I am not including stablecoins in my experiment, and will not be staking or earning interest on any cryptocurrency in this experimental portfolio. The purpose of this experiment is to see if investing weekly in Top 10 cryptocurrencies is a feasible long-term investment strategy and to measure it against other common strategies. For the purposes of this experiment, I will also not take into account trading fees, so I can invest an equal amount of dollar value into each of the cryptocurrencies.
Week # 17 - DOWN 7.3%
Pre-purchases
Total value: 1483.35$
Total invested: 1600$
Profit/Loss: -116.74$
Portfolio vs BTC:
Overall:
Portfolio: -7.3%
BTC(same period): - 6.08%
During this week bitcoin has taken the lead and is outperforming my portfolio. If I sold everything now, I would have been better off if I just bought Bitcoin. But this might change again in the future.
Biggest winners of the week:
Only LUNA is up this week. After being the biggest loser the previous week.
1.LUNA - 14.6%
2.DOT - -2.9%
3.BTC - -3.2%
Biggest losers of the week:
1.XRP - -13.1%
2.DOGE - -10.8%
3.AVAX - -10.0%
Week #17 - pie chart
Pie chart of holdings before acquisitions.
List of Top 10 cryptocurrencies and their prices at the moment.
Changes in Top 10:
XRP -1 position
SOL +1 position
LUNA +1 position
ADA -1 position
DOT +1 position
AVAX -1 position
Purchases - 100$
1.BTC +0.0002595 Price $38541.60
2.ETH +0.003545 Price $2820.58
3.BNB +0.02593 Price $385.74
4.SOL +0.105 Price $95.27
5.XRP +15.3 Price $0.653886
6.LUNA +0.1125 Price $88.91
7.ADA +11.97 Price $0.835404
8.DOT +0.58 Price $17.25
9.AVAX +0.1474 Price $67.86
10.DOGE +80.5 Price $0.124244
Portfolio after purchases:
Total value: 1,582.45$
Total invested: 1700$
Profit/Loss: -117.67$
%Change: -6.92%
Pie chart after purchases:
Stay tuned for an update next week!
I will post an update of:
Overall value change of portfolio
My weekly purchase
Changes in Top 10 cryptocurrency list
Biggest gainers and losers of portfolio
Thank you for reading!
Feel free to comment and leave some feedback.