I took some profit in May 2021 at £1.81 and again in November 2021 at £1.69, and I’ve wanted those tokens back ever since. Cardano is a long term investment for me, but there was no way I wasn’t going to take some chips off the table after the year Cardano had in 2021.
My buy order at 0.3644 USDT (£0.3280p) triggered yesterday, I scooped up 10,000 ADA after a being 24% down on the week and 14% down on the day. I have no idea why ADA is getting hit hard this week, I think whatever it is, is irrational, so it was time to take this dip opportunity.
The last time I averaged in on Cardano was 9th May 2022, that was £0.49p, I am still down 31% on that average in, but it’s no drama as that is still an incredible entry for this project, and that’s the idea with cost averaging…as long as my average price is below the fair value, then I’m stoked.
I sold 20,000 ADA in 2021, I wish I had sold a lot more, but at the time it’s very hard to do. I just wanted to take some cream, and now I have those 20,000 ADA back in my portfolio ready for the next bull run. In fact, I’d say most of the coins I sold in 2021 have been bought back now, the ones I wanted to reinvest in obviously, there was a lot of dead wood that I had to get rid of also.
I haven’t been buying many alts this month, I have been buying only Bitcoin.
I did buy back some Enjin (ENJ) at the end of August. I had sold 1000 in Nov 2021 so that I could give some fiat to my wife to put towards Christmas. I sold them for £2.15, and now I bought back the 1000 for £0.40p. It feels so good to take the profit but replace the tokens I had sold, so that my portfolio stays relatively uniformed. If anything, it’s good for my OCD!
Please comment below on what dips you have been taking advantage of x