Crypto Portfolio Update (Nov 25, 2018)

Well, all is obviously not well in the crypto world. BTC and other coins have been crashing and the crypto bearishness has been accelerating ever since BTC broke the critical 5500 mark. Did not bode well for my portfolio but then, what are Stop Losses for? One should be always thankful for the Stops.

So, here we go once more as more seeds of doubts about Bitcoin and cryptos in general are being sown. One thing is clear – unless Bitcoin, the leader turns around, no other crypto is going to see the light of the day.

Overnight, BTC crashed below 4000 and for now looks set to test the 2500-2700 level. I am glad I stuck to my views on BTC and did not buy again as it did not go above my buy threshold of 6800. 

Since the last update on Nov 5, I exited BCH (lost $600 on 5 BCH) and XLM (lost $750 on 10000 XLM), as my pre-determined Stops were hit. Now I am left with only XRP.  Since XRP is the only one remaining in the portfolio I am removing the Stop on it (it can still go to zero but I can afford to take that risk for now). So my portfolio looks like this as of Nov 25 morning:

5,000 XRP @0.48                    2,400           (CMV at 36c = 1,800)

Cash                                           10,370

Total                                           12,770           (original investment: $15,000 in Jan 2018)

On the day I started this portfolio in mid-Jan 2018, BTC was at 11,000 and XRP was at 1.15. As representative samples, they have dropped by 65% and 69% respectively from those levels in 10 months. Thanks to the Stop Losses (and some profit bookings), my portfolio in comparison has seen only an erosion of 19%. Not bad but it is still an erosion. I will however look to build the portfolio again when BTC drops below 3000 (note I am not saying “if” but “when”). That may be the time to buy again. Till then, putting the portfolio to sleep.

Click here for the previous update (Nov 5, 2018)

About Venkat Pulakkad

Entrepreneur, management consultant, blogger & forecaster. Founder of Flourish Research Media that provides insights on markets, trading strategies & risk management. Currently an active trader with 20+ years of experience trading Forex, Stocks & Options. Areas of interest: Trend / Swing trading, Macro-tech analysis, building trading strategies, deploying Risk Management techniques, and helping / coaching traders to become successful traders. Twitter link: https://twitter.com/Flourish_Venkat      
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