100$ Split Into Top 10 Cryptocurrencies Every Week. Week #23 - It's Bad!

in LeoFinance2 months ago

Intro

Red, red, red. Crypto's are only going one way so far this year. And the way is down. So are stocks and other assets. The only thing we can depend on is uncertainty. Uncertainty about the economy, supply chains, global politics, and the future of investments. But this could also be a great opportunity to buy while others aren't willing to. So i will keep sustaining the pain of paper losses. And will keep running my experiment.

Previous update here!

About the experiment

Follow along my journey of investing 100$ every week split equally into the Top 10 cryptocurrencies at the time. I will post updates about the overall growth of my experimental portfolio as well as some insights about the biggest winners and losers of the portfolio.I am not including stablecoins in my experiment, and will not be staking or earning interest on any cryptocurrency in this experimental portfolio. The purpose of this experiment is to see if investing weekly in Top 10 cryptocurrencies is a feasible long-term investment strategy and to measure it against other common strategies. For the purposes of this experiment, I will also not take into account trading fees, so I can invest an equal amount of dollar value into each of the cryptocurrencies.

Week # 24 - DOWN 57.2%

Pre-purchases

Total value: 984.51$

Total invested: 2300$

Profit/Loss: -1,315.62$

Portfolio vs BTC:

Overall:

Portfolio: -57.2%

BTC(same period): -36.74%

Portfolio vs the S&P500 YTD:

Overall:

Portfolio: -57.2%

S&P500 YTD: -18.2%

Biggest winners of the week:

This week there are only big losers and bigger losers.

1.BTC - -19.3%

2.WBTC - -19.3%

3.ADA - -19.4%

Biggest losers of the week:

1.AVAX - -36.6%

2.SOL - -33.8%

3.DOT - -32.4%

Week #24 - pie chart

Pie chart of holdings before acquisitions.

b4.png

List of Top 10 cryptocurrencies and their prices at the moment.
lis.png

Changes in Top 10:

DOT +1 position

DOGE -1 position

Purchases - 100$

1.BTC +0.00041599 Price $24027.22

2.ETH +0.008154 Price $1226.29

3.BNB +0.04454 Price $224.46

4.ADA +22.03 Price $0.454085

5.XRP +31.97 Price $0.312828

6.SOL +0.365 Price $27.40

7.DOT +1.508 Price $6.63

8.DOGE +182.3 Price $0.054843

9.WBTC+0.0004165 Price $24005.36

10.TRX +157.7 Price $0.063398

Portfolio after purchases:

Total value: 1,074.38$

Total invested: 2400$

Profit/Loss: -1,325.73$

%Change: -55.24%

Pie chart after purchases:

af.png

Stay tuned for an update next week!

I will post an update of:

  • Overall value change of portfolio
  • My weekly purchase
  • Changes in Top 10 cryptocurrency list
  • Biggest gainers and losers of portfolio

Thank you for reading!

Feel free to comment and leave some feedback.

Good luck with your investments! Let the money do the work!

Posted Using LeoFinance Beta