Cryptocurrency Orchard Profit Update: Week 34, 2018
Here’s an update on the ROI of projects I’ve invested in this year so far:
On average, ROI is still up against the market. However, in this market, there is nowhere to hide. With the majority of ICO investments I made, I was able to take out my initial investment and some additional profit with some of them, so it’s for the most part, ‘house money’ being hammered.
This is exactly why my investment thesis includes locking in profits at certain xxx% of return because I don’t know what’s around the corner.
The trading tokens that I picked up on exchanges however, have taken a beating — around 20–30% or so on average. I plan to build on these positions at these great prices, but I anticipate we may go down a bit more or just sideways for a while, so I’m just waiting the market out a bit before I start accumulating, could be a mistake…as this is crypto, but I’m prepared to still take a punt on this.
Overall, from my last post on this, YTD ROI is down some more. Despite the occasional pump, the bear market has made itself at home on the sofa, with its feet up and has a bowl of honey, which is great news if you have some cash on the side lines.
The reason I think the bear market is not over yet, is mainly the sentiment and volume. Until the public get excited about crypto again and volume increases then I’m not expecting a major rally for now, but of course I could be wrong.
Latest updates: I’ve added Binance and NEO as cash positions and stability for now, however I may continue to build on these positions for medium term-long term. I’ve sold off my positions in Zeepin, Bottas and ArcBlock as there are other projects I’m more excited about which I want to restructure into, these were all ‘house money’ positions so nothing lost.
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Disclaimer: Any information in my blog posts are for educational purposes only and are not to be taken as financial advice. The views expressed are my opinion only and are not paid or sponsored. Please remember investing in cryptocurrencies is very risky and you can lose all your money. Please consult your own licensed financial advisor and operate within the laws of your country of residence. I may or may not have positions in the cryptocurrencies mentioned in my blog posts
