100$ Split Into Top 10 Cryptocurrencies Every Week. Week #16 - Back in Negative Territory
Intro
It was fun while it lasted, but the green run has ended. For now at least. The paper gains are erased and we are back into negative territory. But this is nothing new for this experimental portfolio. And comes as no surprise. This has been a bad week for the markets. I am finally back home from my travels, and back to my computer. I will slowly be implementing some changes to these updates to make them more interesting. This week I am adding a comparison of overall performance with BTC. Feel free to leave suggestions for future improvements.
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 # 16 - DOWN 5.03%
Pre-purchases
Total value: 1424.69$
Total invested: 1500$
Profit/Loss: -75.41$
Portfolio vs Btc:
This week I am adding a new section to these updates and now will be comparing the overall performance of the portfolio vs the performance of BTC.
Overall:
Portfolio: -5.03%
BTC(same period): - 5.18%
So far the portfolio is outperforming BTC but the margin is very thin.
Biggest winners of the week:
This week everything is down, but these are down the least.
1.XRP - -2.3%
2.BNB - -4.4%
3.BTC - -7.8%
Biggest losers of the week:
1.LUNA - -16%
2.SOL - -14.2%
3.ADA - -14.1%
Week #16 - pie chart
Pie chart of holdings before acquisitions.
List of Top 10 cryptocurrencies and their prices at the moment.
Changes in Top 10:
XRP +1 position
SOL -1 position
Purchases - 100$
1.BTC +0.000256 Price $39,081.68
2.ETH +0.003423 Price $2922.25
3.BNB +0.02483 Price $402.88
4.XRP +13.51 Price $0.740341 +1 position
5.SOL +0.1032 Price $96.94 -1 position
6.ADA +11.22 Price $0.891153
7.LUNA +0.1259 Price $79.44
8.AVAX +0.1359 Price $73.57
9.DOT +0.573 Price $17.45
10.DOGE +73.7 Price $0.135669
Portfolio after purchases:
Total value: 1,533.74$
Total invested: 1600$
Profit/Loss: -66.33$
%Change: -4.15%
Pie chart after purchases:
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!
