100$ Split Into Top 10 Cryptocurrencies Every Week. Week #45 - Oh boy, it's bad

Intro

If you are holding crypto, I feel you. It's bad. And today, it's probably going to get worse. FTX has fallen and taken BlockFi with it. And we will probably see more players eliminated. After the good performance of the previous week, my portfolio is down again. But it's probably negligible comparing to losses some of you might have incurred thanks to latest developments. I also have some funds stuck/lost in Celsius and now in BlockFi too.

Should have learned from the first time. Now I am moving most of my crypto holdings off of centralized platforms and into my wallets. And it's probably going to stay this way until we are in a new bull run. It's bad. But it also could be a great buy the dip opportunity. While central institutions have failed, crypto space is hurt. But it has not failed us.
Last week's 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 # 45 - DOWN 37.67%

Pre-purchases

Total value: 2,804.69$

Total invested: 4400$

Profit/Loss: -1,695.37$

Portfolio vs BTC:

Overall:

Portfolio: -37.67%

BTC(same period): -39.01%

Although all the gains from previous week are erased, the portfolio is still a bit ahead of BTC.

Portfolio vs the S&P500 YTD:

Overall:

Portfolio: -37.67%

S&P500 YTD: -16.2%

Biggest winners of the week:

Winners, yeah... right.

1.DOT - -18.0%

2.TRX - -19.3%

3.BNB - -20.8%

Biggest losers of the week:

1.SOL - -62.0%

2.AVAX - -33.7%

3.DOGE - -31.0%

Week #45 - pie chart

Pie chart of holdings before acquisitions.

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

Changes in Top 10:

no changes

Purchases - 100$

1.BTC +0.0006065 Price $16484.37

2.ETH +0.0082 Price $1220.12

3.BNB +0.03617 Price $276.39

4.XRP +29.3 Price $0.341221

5.DOGE +118.4 Price $0.084496

6.ADA +30.48 Price $0.327940

7.SOL +0.735 Price $13.61

8.MATIC +11.41 Price $0.876128

9.DOT +1.764 Price $5.67

10.STETH +0.008335 Price $1199.85

Portfolio after purchases:

Total value: 2,867.75$

Total invested: 4500$

Profit/Loss: -1,732.30$

%Change: -37.66%

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!

One last thing

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