 | It's time for a mid-week update and once again it's a good one! For those who aren't familiar with my experiment, I'm DCAing into a mix of 16 alt-coins and using BTC, ETH and BUSD (with interest on BlockFi) as controls in a 1 year long project. I took feedback from the community to help set the roster of 16 coins, but also did a bit of my own research and picked projects which I believed in after doing some DD. I have posted at least a summary of my DD on each coin in previous posts and I will be donating some of the proceeds to a charity to be chosen by the person who suggested the best performing coin at the end of the experiment. For the starting point you can look here: https://np.reddit.com/r/CryptoCurrency/comments/q9z379/one_year_altcoin_dca_experiment/?utm_source=share&utm_medium=web2x&context=3 and the most recent update prior to today can be found here: https://np.reddit.com/r/CryptoCurrency/comments/tpal5d/1_year_altcoin_dca_experiment_week_23_update/?utm_source=share&utm_medium=web2x&context=3. Well, what can I say, it has been a great week. The crypto market overall is up again, and several of the projects I've chosen for this experiment are outpacing the market once again. The numbers below show an almost 10% gain in less than a week which is more than I would've hoped for even. Let's get right into the numbers: The amazing thing about this update is that for the first time since January 1st the experiment is in the positive! Honestly, we had been trending up over the last few weeks, but just 2 and a half weeks ago we were down over 25%, I did not expect things to turn around this fast. Let's hope the momentum continues. Another amazing thing about this update is that this is the first time in the entire experiment that either BTC or ETH has been in positive territory and they both are! Adding to the excitement is the fact that more than half of the individual projects selected are now in positive territory and MATIC is knocking on the door too. This is easily my best update in a while. Not surprisingly LUNA is still the top position, now sitting up over 73% to date in the experiment. It was one of 6 different coins that were up double digit percentages since last week, with the leader among them being AAVE up 38.81% in just a few days. There are no projects that are down since the last update, although there are a couple (FTM and TRAC) which were up less than 1% and those two now sit in the last two positions. FTM is the only coin down more than 18%. An amazing fact when you consider my earlier note that just 2 and a half weeks ago the entire project was down over 25%. Here's a chart showing the progress through the experiment so far: Those trend lines over the last couple of weeks look amazing. Finally, heading into the weekend, these are the purchase I'll be making this week which will bring the total invested into each coin in the project up to $200. Finally, as always you can see real-time status of the experiment by following this link to CoinGecko: https://www.coingecko.com/en/portfolios/public/pokoire-1-year-dca-experiment where you can see updates of the doughnut chart below. [link] [comments] |
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