Monthly Crypto Portfolio Update (April 2019)

April started with a bang as many altcoins started to breakout through their previous downtrends and bitcoin this time around follow closely after. After a couple of weeks, the shift moved towards bitcoin as it briefly dipped below 50% but has aggressively rebounded since. Bitcoin ended outperforming thr overall market as it increased 30% for the month against the 20% increase from the general market. The total market capitalization ended the month around $170 billion while it started at $145 billion. Still lower than the highs of of last year but the trend is now increasingly improving from not only a price perspective but also a sentiment side as measured by some of the metrics followed on social media and searches.

These moves benefited my portfolio quite substantially as the bitcoin outperformance helped the value grow about 25% for the month. This made the allocation of cryptocurrencies to my total invested assets increase organically even before the small move I made during the month. That was encouraging to see as it has been a while since I had seen this as I have been hesitant to continue adding even at lower prices as I often believe that we should respect the trend. This same respect is what has gotten me more positive as a number of indicators and charting analysis shared by fellow Steemians and Crypto enthusiasts have shown improved signs that mostly point to the worst being behind ius and even a bottom being established months ago.

My thought of increasing my allocation to 20-25% over time reached a roadblock this month as one of the assets that I wanted to use were Stablecoins and they have come into plenty of noise recently. First, Tether is going through some issues with regulators in New York and the process has brought to light what many were already suspicious about in that the tokens are not fully collateralized with cash balances. Ironically, it seems to be because of a seizure made by a government agency which leads to a number of questions but also demonstrate the reason why having our private keys under our control is important for our monetary sovereignty. However, even DAI which was the frontrunner for the Stablecoin I was considering seems to be having issues with the project team and governance which has led to disagreements and potential changes to future. This has made me hesitate for the moment as others in the market have low liquidity despite these changes.

The overall portfolio did not have many changes as my lack of time did not allow me really do the research that I have been wanting to do to decide how to spread some funds to increase my exposure now that the trends seemed to have improved. The main focus will be to improve my average costs but I also want to see which have been delivering on their roadmap and have the potential to improve adoption and growth in their ecosystems. The one move that I did make in April was adding some Ether to the portfolio in order to start an initiative to ultimately have enough to be able to stake when the future upgrades towards Proof of Stake (POS) take place in the coming months. Considering the price and the potential it has to bring interest back to the ecosystem, I think it could be worth the position. Others continue to compete and bring interesting alternatives but the community of Ethereum continues to be large and have interesting resources behind it.

The results of the month have made me review the performance of the positions since inception in general. While my total portfolio has never fallen below its original costs due to the fact of the low entry price I had of bitcoin, it has been down about 75% from its highs as some of the assets are down more than 90% since opening the position. However, given the recent rallies we have seen, some have gotten very close to breakeven once again. In fact, now my positions in BAT and ETH have gone above my average price. This continues to demonstrate the power of scaling into positions as both have had multiple purchases which helped lower the average cost. This will allow me to even sell some if the price inproves dramatically again although my thought is to hold these long term.

Unfortunately, there are still some positions like Dash that still deeply below the average price. This is amazing considering that I didn’t even buy these halfway up to all time highs. It does mean that Inhave watched the rise and fall though; talk about discipline and belief in the long term! One of my favorite positions, Litecoin, has been one of the leaders which has helped its perfomance. While below my costs, it is fairly close to breaking even and given the performance in not only price but also the project itself, I am confident that it continues to be a hold even once it gets past the amount to get a profit. I envision Litecoin being my cryptocurrency of choice to transact in the future!

The sector continues to improve and signs are pointing to a new phase that will be exciting for enthusiasts like me. I have learned enough over the last year to look for the best ways to see fundamentals improve instead of just looking at price. I think that we will continue to see volatility and bumps along the road but the foundation has been built to improve adoption and bring the technology to the next phase for many projects. However, being selective I believe will be more important as not all assets will correlate this time around as they will need to perform in order to maintain value.

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