Same time last year I was such a happy Baby!
This snapshot of my portfolio was taken this same day in 2021 when BTC was on 48.5K:
- BCH on Celsius $85
- CAKE DFI $250
- Metamask $560
- WiseTokens $620
- Bitvavo Exchange $1150
- Bitmart Exchange $2500
- Kucoin Exchange $3500
- Coinomi Hot Wallet $3200
And $140 in XTM on Torum
Did anyone do the math on that one?
Noone taking out the calculators?
Well, let me do the work for you ...you lazy sons of lazy mothers.
$12.145 and then I took out everything I invested which was about $2.750
I had 9.3K left after withdrawing my full investment....10K profit that was insane!
No wonder I was a happy baby, I 5Xed my investment. Life could not be any greener.
Little did I know about crypto.....about cycles....., and about bear markets back then.
Cycles
Of course, I knew about cycles but like many, I expected an extended bear market with BTC getting close to 100K. I should have trusted the data, but I was born in a bull market so I thought it would continue.
The great thing about hindsight is.....ehh is..... absolutely nothing. There is nothing you can change looking back, and everything to change looking forward.
Basically, this year was ONE very expensive lesson.
As always I will be fully transparent with regard to the mess I made this year.
Now as said I did not believe that we were in a bear market till about April 2021, which caused me to buy the dip on many alts in Q1.
NOTE TO SELF: As soon as the bulls stop running, don´t buy Alts till you reached the bottom.
In other words, I bought ALTs at prices I now hope to sell them again one day. That mistake cost me dearly. Another mistake was holding funds in Celsius, but let me first give the Snapshot of my Portfolio on 30 Dec:
- BCH on Celsius $205 but locked thanks to the Bankruptcy so excluded (+$120)
- CAKE DFI $40 (-210) still holding the same amount of Cake DFI more or less
- Metamask $175 (-385)
- WiseTokens $0 Sold and after all fees I broke even on this
- Bitvavo Exchange $1790 (+640)
- Bitmart Exchange $425 (-2050)
- Kucoin Exchange $410 (-3100)
- Coinomi Hot Wallet $4000 (+800)
And $10 (-130) in XTM on Torum
In addition, I am holding $475 on HIVE and $40 on Uphold.
Now I will do the math for you again: $7.350 now compared to $9.300 which is only a 2K drop, I wish.
Full Disclosure
I have been pouring buckets of fiat into crypto this year, as I started buying the dip since BTC hit 33K. So I invested a total of 6.4K into crypto in 2022, which means that my 9.3K profit has dwindled to 1.2K.
Yes, I am still in profit with the bottom of the bear market in sight. Yes, I have still 10% in stablecoins ready to buy the rest of the dip. And Yes, I do think that this bear market is going to end one day and that two years from now I will have doubled my holdings.
For now, I am happy to still have this little bit of profit to cling to. Although it will not take much to make me go in the red now and when we hit the real bottom I will be in the red zone.
For now, I lost 8K. And what did that teach me?
- Stay away from centralized platforms like Celsius, the revenue is not worth the risk.
- NYKNYC, an exchange is not a wallet
- Don´t buy ALTs at the end of a bull run
- Trust historical data (4-year cycle)
- Don´t buy ALts when the market is going into a bear market.
- Don´t buy anything in a bear market until it is at least 75% from its top
- Buy ALTs when BTC Bottom is in and BTC dominance is UP!
- Don´t DCA, safe in stables till blood and body parties are floating down the street
Safe a monthly amount and use that during the one year in every 4-year cycle that BTC is lower than the year before, hence 2023, or wait till 2027!
BTC Price On Jan 1st
2023 - $16.500
2022 - $47,424
2021 - $29,261
2020 - $7,220
2019 - $3,846
2018 - $13,657
2017 - $998
2016 - $434
2015 - $314
2014 - $771
2013 - $13
2012 - $4
Don´t think we are in a great depression already, waiting a year on a pump.....that is causing a great depression.
The Bottom should be in based on the averages, but I expect the bottom to be in when I am finally in the red. It probably will not be long but I am kinda sure it's coming in Q1 of 2023.
Thanks for the read!
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It's one of the few free things in life!
𝒯𝒽𝑒 𝐵𝒶𝒷𝓎 𝑜𝒻 𝒟𝑜𝑜𝓂
