The Portfolio Update for November. Earlier this month shit hit the fan when Bitcoin dropped to under $3500. And a lot of altcoins went down crazy, some even back to ICO levels! So what did I do with my Portfolio?
Let’s see the coin split:
I moved a lot into $BTC or rather I bought more with filfthy fiat and sticking to it, considering the cheap price for $BTC right now. Which is why my Portfolio is now consisting of over 25% Bitcoin.
$XLM I didn’t change anything. I stacked up more $NEO at $8. More about that later. As I was stating in the last portfolio update, I was thinking about buying $DERO
Didn’t change anything about $NPXS or $BIS. Those are still semi-longterm holds into next year. $XHV was another interesting purchase. I thought I did great and purchased it just shy under $2. But nobody expects the Spanish inquisition 😉
Which is why it is now at $1,17 and I’m down almost 50%. So this got turned into a long-term-ish coin by accident for me. I guess this happened to some of you as well.
If you are concerned about this. Don’t. If you buy coins with proper fundamentals just like $XHV for example, it doesn’t matter. They will come up anyway. You could try to DCA (Dollar cost average) them, some strategies about this here. I will eventually do that, at this point I am mostly done buying new coins and thus broadening my portfolio.
Diversify to preserve capital. Focus to maximize capital.
Currently, I hold 15 coins, which I personally think, is almost too much. But that’s still due to the fact that I am stuck with some of them because I thought 6k would hold for sure and they wouldn’t drop further.
You know how that turned out 😉
The funny thing about the “other” block in the coin split is that these coins are mostly coins which I held for a while and are down so fucking much now, they don’t deserve their own spot in the split and/or are worthless, so they get put together.
I re-jumped into $ICX after getting stopped out at a 20% loss recently. This is not how you should place your stop-losses by the way. I just set that stop-loss way too late when the coin was already under water. I tried to minimize losses at this point. Then I jumped back in when it was really bottomed out
Well, lets talk about the narrative of “you should invest in Bitcoin right now with this unstable market”
Don’t buy altcoins, fam
A lot people keep saying you should sell your altcoins and put it in Bitcoin because it isn’t clear which altcoins will die if this bear market keeps on going (which is true to some extent) and therefore Bitcoin is the safe bet.
Now, in a vacuum, this might be true. But it’s never this easy. If you are already 90% in altcoins and they are down 80% what point is there to sell your altcoin for 5$ and put that into Bitcoin? If you chose REALLY bad and all your altcoins actually die, then yes. Putting it into Bitcoin would have been better, but come on.
This whole thing is always 100% dependant on what coins you have, at what price you bought them and how much they are down AND how much you invested/how much they are worth now.
You see, just a bunch of variables. How can anyone make an absolute statement about this?
I think this narrative is mostly spewed by Bitcoin maximalists or people that are in this market for years and think that nobody made any mistake with exposing themselves too much into
As you can tell by my portfolio, I am more into Bitcoin myself recently, with it being one fourth of my portfolio. So I reduced my alts exposure. But that’s mostly down to the fact that I keep throwing in fiat money which means I have the possibility to reduce exposure. I do, however, still average down on some altcoins, like:
The chosen one
I actually bought more $NEO at $8. Despite people calling for it to die, or being vaporware. Which is some
I believe in this project and not only because I have a bag. I still like platformer coins like NEO and ICX. Which is why I hold both of them. Next bullrun, they will pump I am sure.
You see, I am the investor archetype because I want to spend most of my time on other stuff. However, you gotta prepare yourself. We don’t know how long this bear market will last and a good time to learn trading is probably in a bear market and pretty much especially right
Which is why I have recently started to educate myself on the basics of trading with the school of CryptoCritics! Great website, the basics are free, but you would be well advised to purchase a (very cheap) membership to get live calls and even coached trading. But there is a free sign up with lots of basic trading lesson’s as well, if you’re really rekt.
Since the SEC is getting more and more involved I have to disclose that this is an affiliate link to CryptoCritics. If you sign up via this link I’ll get 20% of your membership fees.
I, personally don’t think we will see big movements in price for Bitcoin this year. Neither for most
See you next time,