 | It's time for the week 24 update. Once again, things are looking good. The mid-week update was the first update in the positive since the beginning of the year and despite a couple of dips since then into slightly negative territory we're still in the black. For those who aren't familiar with my experiment, I'm DCAing into a mix of 16 alt-coins and using BTC, ETH and BUSD (with interest on BlockFi) as controls in a 1 year long project. I took feedback from the community to help set the roster of 16 coins, but also did a bit of my own research and picked projects which I believed in after doing some DD. I have posted at least a summary of my DD on each coin in previous posts and I will be donating some of the proceeds to a charity to be chosen by the person who suggested the best performing coin at the end of the experiment. For the starting point you can look here: https://np.reddit.com/r/CryptoCurrency/comments/q9z379/one_year_altcoin_dca_experiment/?utm_source=share&utm_medium=web2x&context=3 and the most recent update prior to today can be found here: https://np.reddit.com/r/CryptoCurrency/comments/tsjspg/1_year_altcoin_dca_experiment_week_23_update/?utm_source=share&utm_medium=web2x&context=3 Since the week is divisible by 4 that can only mean that all of the coins have the same value spent. We have finally reached $200 spent per coin and just over half are up. Let's head right to the numbers and then we'll talk about it. No big surprise that LUNA is sitting at the top, it's been the top performer for over 5 weeks now and for much of that time it has been the only coin in positive territory. Even when looking at percentage gains over the last week it was it was the fourth best performing coin in the portfolio. Once again, both BTC and ETH are in the positive too, repeating the trend from the midweek update. More importantly, the overall portfolio is still up and in fact up slightly more than it was as of the mid-week update. One other interesting thing to note here is that due to the hype over the highly anticipated ETH merge, ETH had a very strong week and was up just over 11%, getting to a point where it is outperforming BTC in the portfolio for the first time since January 1st. The biggest gainer since last week's update is AAVE which is up nearly 50% since last week. At that point it was over 17% down and now it's up over 22%, it's been an amazing turn around. Not too far behind it is SOL which is up over 33%. Every coin in the experiment in fact, even BUSD is up since last week because BlockFi pays interest on the first of the month. Perhaps my favorite part about this week's update though, is the fact that thanks to a strong week from FTM there are no coins in the project down more than 20%. This is only the second week since the project fully kicked off that I haven't had at least once project down 20%. This is the first end of the week update that's in the positive since January 1st (interesting that this was also the last time ETH was ahead of BTC in the portfolio, not sure if that means anything). Over those 3 months in the negative, much of that time was spent greater than 25% down, but the DCAing has paid off and we made some good purchases during that time which have helped immensely. Here's a chart showing the progress of each part. The big takeaway I have from this chart is that the worst performing thing I'm tracking since the experiment has begun is the price of BTC. The BTC price is down over 20%, my BTC is up 2.5% and the overall portfolio is up about the same. This is a real testament to how DCA has benefited me. The following table really spells it out: Thanks to the DCA approach I'm up almost $800 relative to where I'd be if I had just invested all of this money up front. I've mentioned it before. Had we entered a major bull run right at the beginning of this experiment it would be exactly the opposite, DCAing would have cost me some, but the thing is, I'd be up big in that case anyway. Since no one knows what the market is going to do next, DCAing is the safest approach. Earlier in the post I mentioned that BlockFi paid interest this week, so I have some income to report for all of the controls which are hosted on BlockFi and earning interest. Also, since I'm snaking my purchases, next week I'll be purchasing the same 4 coins as this week. All of this information is laid out in the following table. Finally, as always you can see real-time status of the experiment by following this link to CoinGecko: https://www.coingecko.com/en/portfolios/public/pokoire-1-year-dca-experiment where you can see updates of the doughnut chart below. [link] [comments] |
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