14 April, 2023 seen 71At the end of March 2023, I was managing 3 small investment portfolios. The total value of all portfolios combined was…
The cryptocurrency bear market which has started in 2018, has finally hit my humble cryptocurrency portfolio and have vanished all the huge gains I made at the end of 2017. Ethereum (from my portfolio) has been hit the most.
Since the begging with 2018, I have lost about $3,000 virtual money - January and March have hit portfolio the most. It's not that I wouldn't be aware that cryptos are volatile, in fact, from my short crypto investor experience (joined the game in July 2017) I have observed a few ups and downs.
Back in 2017, after just 2 weeks I lost about 50%, soon I regained what has been lost and even got a sweet 340% value growth by the end of 2017. Here is how I could describe crypto in short - Denial, Anger, Depression and Acceptance. Right now I believe we are in the Depression Zone.
Here are few articles about the negative experience:
- Cryptocurrency volatility lost -54.42% in just two weeks
- Bitcoin Price Increases Altcoin Market Bleeding
- Cryptocurrencies are Volatile - Here is How I Lost $1,000 in Value in a couple of days
It was around October 2017 (shortly before massive pump) I started to feel uncomfortable with a massive crypto value gains
Around New Year I was even enjoying euphoria and predicted that bitcoin price could reach $30,000 by the end of 2018, and was looking for Ethereum to reach $2,000 by the end of the year:
Now with bitcoin price set at $7,177 and ethereum at $401, these predictions right now look over positive (but you never know, as in the crypto World things can change fast)
Ethereum Investment Chart (Invested/Value)
This is how my dollar cost averaging investment in Ethereum looks like since July 2017. For the past 8 months, I've invested EUR 470 in Ethereum (buying once in a month, usually at the start of month). The total value for my ethereum holdings now stands at EUR 461.97. I've lost EUR 8.03 (not counting in commission fees, which stand at EUR 18.94 for ethereum)
Bitcoin investment chart
It's interesting to observe that not all altcoins mandatory follow in the footsteps of bitcoin. In the above chart, you can see that while ethereum in dropping since January, bitcoin, on the other hand, regained some value in February and continues a drop in March.
If in the case of ethereum I've already entered negative value area, then bitcoin still is with a positive +28% (since July 2017) sign.
Now, let's see how my total crypto portfolio (bitcoin, ethereum, litcoin, bitcoin cash, ripple, and siacoin) looks now
Crypto investment chart
The total value for my entire crypto portfolio is still with a positive +22% grow
The Bottom Line
It's hard to tell what will happen next - will cryptos will continue to drop in Q2 2018 and doubt we have any clue how this year will end. Here is what I believe (hope) to happen next - it feels that currently, prices for largest crypto coins (bitcoin, ethereum, litcoin) have returned to the values they had in October/November 2017. Now the next days/weeks and months will show either price for cryptocurrencies will continue to drop to the August 2017 levels, if so - the bear market will continue to at least June/July.
More positive outlook would be if crypto would enter into the purgatory stage, staying in this zone for a couple of months (let's hope not years) and could turn bullish with Q3 2018.
Speaking of me - despite I feel a bit worried with happening in crypto right now, I will continue to stick with my dollar cost averaging one in the month plan and will keep acquiring more coins months after month until the end of 2020.