I lost 35% of my crypto investments in the FIRST MONTH!! 😱
Today marks my 1 month crypto-versary and it has been nothing by red double digits. And I love it!
I started with Bitcoin, as most do, with just a few small investments and slowly diversified into a few other cryptos that I spent some time researching. I did not get involved in cryptos to pump and dump and be led by hype - the coins I choose to put money into are those that I believe have a great product or service that can improve upon existing platforms or frameworks and will of course grow.
This is why I love the losses.
And why I am not scared or about to cash out due to a bearish market. Firstly, I am so new to this and would rather ride the waves and get more of an insight into the market. Secondly, as I said, I believe in these technologies - all good things require patience.
Anyway, here are a few screenshots from my crypto portfolio that I have at the moment. My investments are not substantial amounts, but enough to keep me interested and following the market. (NB. Prices are in AUD as of 3rd Feb 2018).
The dip in Bitcoin over January has been the biggest contributor to my losses. But I am not phased and know this will correct and grow over 2018.
I only recently bought some Ethereum, so not much has happened with it since then.
IOTA hasn't faired too well over the past fortnight and some people are reporting that will drop a little further before it starts to correct upwards. I think I might watch the charts and find a nice time to buy.
EOS on the other hand, has been mostly in the green and wasn't affected as much by the dip in Bitcoin towards the end of January. I think EOS will be huge and will also be looking for a good place to buy in soon.
I've made a few small investments in STEEM to grow and influence my Steem Power. The average cost of Steem from my investments are around $7 AUD. It hit $10 AUD at the start of the month and I think it will get back there soon.
This is a chart showing the amount of $AUD I have invested and the current value of my portfolio (3rd Jan 2018). As you can see, the value hasn't really moved much over time but I am still investing. Why? Because I believe in the cryptos.
I think the plan/strategy going forward for the rest of the year will be to
- consistent small investments in major coins (dollar cost averaging)
- do more research into other cryptos to invest in and diversify my portfolio some more and include coins with a range of different market caps.
Obviously I am not an expert and this is by no means financial advice - and I am no smarter than you and these are just my opinions and thoughts. So please do your research and only put in money that you are prepared to lose.
My Latest Crypto Articles
STEEM just hit $10 AUD... Talk about timing
CONNECT WITH ME ON
Watch various coins on deep dives, some loose much more value than others, while few of them loose very little. Bad times in the market expose the strongest assets. Keep watching and draw your own conclusions.
I've just had my one month anniversary investing in cryptocurrencies, as well, and find myself in the same boat. And, like you, I'm not concerned. I'm just beginning to learn, and it's nice to read an article from another newbie.
Awesome, would love to hear how you are doing and what coins you value.
Haha, I assure you, you don't want to know. I'm the greenest of the green when it comes to cryptocurrency. I have a little bit of BTC, LTC and ETH. And, I bought a little bit more today. And, of course, I highly value STEEM :) I saw that you think EOS will be huge this year; can you tell me a little about that?
I have been hodling since June last year. I have seen Bitcoin rise from $2500 all the way to $20000. I also saw different altcoins rise. I saw hardforks, scams and hacks. I saw prices rise and fall and now even a massive crash. I believe we will be alright. I would never sell at a loss.
Hell yeah -I have a lot more to see than this, can’t wait to see where I’m at after 18 months
Thanks for sharing! I'm four months in and fairing better with around 7 coins, two of which: ADA and VERTCOIN have returned well, as I managed to get in early. From there on, buying in the dips and growing the long term investment portfolio for me. Very happy as a bank wouldn't give me the returns I've seen in that time, even if I gave them 15 years!
Well done and congrats. That’s how I feel about the banks also. Wait for slow returns or take a risk with cryptos
Nice article. It's good that you are not panicking.
Good things come to those who wait. HODL.
Thank you for the great post Drew!! I just finished one myself that talks about this recent Bitcoin crash. You might be interested in it so check it out if you get the opportunity.
https://steemit.com/bitcoin/@cool-mike/the-great-bitcoin-crash-of-2018-will-cryptocurrency-survive
Sounds like a good plan in general - I just would skip BTC (What is the reason for holding it? Do you believe in its "technology"? In fact everything BTC does, can be done better with other coins.) and most definitely I would save my money on IOTA. From what we have seen with them, they are not able to do right PR/Marketing and not even get their basic blockchain working - how are the chances, that they will be able to do millions of micro-transactions between IOT for huge cooperations? As always DYOR and this is just my opinion and no financial advice. Go for EOS and STEEM and you will be good one year from now, when we talk about this again 😀
Thanks for your input, much appreciated. I need to spend more time following up on my investments by reading news and websites etc so I am up to date with each coin. I will have to investigate a bit more into iota. Thanks bud
Yeah, bad timing for crypto fans :)
This post was resteemed by @steemvote and received a 46.67% Upvote
nice post!