A lot has happened in the past days in all things cryptocurrencies. In this post, I want to take a quick look at my portfolio and what I think is going to happen in the near and more distant future.
First things first: Disclaimer
Okay so, I am using Cointracking.info to track my movements. Most of my numbers rely on this service. Cointracking has it’s own connections on where to pull values and prices from and therefore might vary from other sources and calculations. To make things simple, I will just use this source to give you some insights. Also please be advised, that I will not show you how much money I actually invested in one altcoin. I will show you the percentage distribution of my portfolio, but not the actual volume I bought in fiat or amount of coins. Thank you for your understanding. Plus another disclaimer: I am not a financial consultant. Please do your own research and do not rely solely on my posts if you are investing or planning to.
What has happened in my portfolio?
So as things are out of the way, let’s dive right into the facts and figures.
This weeks basis is the following bitcoin price chart:
Since I already posted about the bitcoin “crash” that happened over the past days, I will not go into further detail about that. But as you can see in this chart, you can mostly assume the price development as pretty stable and safe to trade again. As of this morning, BTC broke through the EMA 9/26 trend line and fibonacci levels, which means that resistances were broken and the price is expected to climb back up again.
The distribution of value for me points in 2 big directions. One of them is the chinese VeChain and of course Ethereum which recovered pretty nicely, after the crash. The eagle-eyed reader might see, that even after ranting pretty hard about TRX, I bought into it again. I am not holding a major position anymore, but when I saw Tron making a bullish run in the beginning of the weekend, I picked up a few coins again. Justin Sun announced, that the dog breeding game they are developing, is going to launch in Europe soon, which gave the cryptocurrency behind it a little push. TRX then saw it’s price exploding, but plummeted again shortly after.
Source: TRX price chart from Cointracking.info
From what I get, in Suns game you will have to breed dogs and then sell them off for TRX currency. With TRX you can then buy new dogs to broaden your genetics. To my girlfriend this sounds like the perfect game, as she is a dog breeder in real life herself, but I don’t know how appealing this concept sounds to any others in the world. That they are using blockchain technology to run minigames though, sounds pretty nice to me.
Although I am pretty much in the greens at the moment, it doesn’t mean I am satisfied with the overall performance of my portfolio. All the heavy lifting that I am seeing today is actually done by VeChain [VEN], which is literally exploding, since they announced their new partnerships including national level cooperation.
With the other currencies I am holding, I am currently going the HODL everything strategy. Since they are all in the reds for gains and losses at this point, I am at least hoping for a slight comeback to dump some but still want to keep the most promising ones.
So which are the currences I still think will get their comeback?
These thoughts are mainly based on the goals that the individual projects are pursuing. I won’t go much into detail – because again: Do your own research – but I want to tell you why I think such projects have a brighter future.
I like platform projects. And if I think platform, then I definately think of Nebulas. Their approach is a decentralized search engine. Their algorithm is open source. You can use their tech to implement your own projects.
Why do I think that this project will attract more interest soon? Well that’s simple. 11 days ago, they released their instructions on how to join the NEBULAS testnet. With this, developers can start testing the tech and developing on it. This is what makes the NEBULAS technology more approachable.
Loopring is a project that wants to decentralize cointrading. They are at the moment concentrading on ERC-20 protocol coins, but might expand to other currencies, as they stated in their official FAQ. With more and more investors joining in on the fun and more and more governments trying to shut centralized exchanges down – the demand for decentralized and always available exchanges might grow.
VERGE [XVG] is doing a hardfork at blockheight 1,824,150. Hold your XVG and get 1:1 payout when they update the code to introduce stealth transactions.