Monthly Crypto Portfolio Update (July 2019)

in busy •  last month  (edited)

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The cryptocurrency markets finally took a rest this past month as the rally that we have seen since the beginning of the year started to slow down. This was not too surprising as valuations were a little too high to attract new investors into the market and already participating investors to buy more. The positive note of this is that the sellers continue to be less than what we have seen in the past which continues to confirm my opinion that we are in the mix of a new positive trend for cryptocurrency assets.

Unfortunately, the experience for Altcoins has been worse off than for bitcoin itself. As the general market decreased from $313 billion in market capitalization to $278 billion this month, as bitcoin dominance surged from 60% to 65%. That has brought plenty of pain to a lot of Altcoin investors which had started buying correlated assets in search of better returns with less capital. However, bitcoin continues to outperform wherever the market goes. While I don’t expect this trend to continue, I believe that the problem continues to be the amount of assets available in the market relative to the interest of investors. Until a large majority of these projects fail and the value of their assets or tokens go to zero, it will be unlikely that we see substantial returns in excess of what bitcoin provides.

An indicator that I am watching once again is the market capitalization of Tether which continues to increase as many investors seek entry into the market. However, they choose to park their money or capital in Stablecoins instead of actual assets. I believe most of the funding has come out of the altcoins instead of bitcoin. Until Tether’s market cap decreases below the top 10 in the market, I do not think that the general cryptocurrency market can move much higher. This is an interesting concept to watch given all of the complexity and rumors surrounding Tether and the companies that manage it.

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This past month has also brought me renewed interest into the traditional financial markets given how it seems that volatility is looking to make a return. However, as I have been out of the market since October of last year I am still somewhat hesitant given the challenges of understanding this market in the many moving pieces investors cannot control. However, the uncertainty in these markets is leading me to come to the conclusion that cryptocurrency assets could be a great way to hedge our exposures to general financial market and economic conditions. Therefore, I have continued to buy the dips.

It continues to take strong willpower to do so as the whole industry continues to be somewhat experimental as its market capitalization still continues to be overshadowed by virtually every other that asset class that exists in the market today. However, my thought is that being and early investor will pay better “dividends" in terms of gains in the future. That is why I continue to deploy my dollar cost averaging strategy in certain assets and opportunistically buying others. This past month, I continued to accumulate both Steem and DAI. What I have begin to realize is the opportunity I have in ultimate been diversifying into other assets with these purchases. However, my main source of funding continues to be from Fiat currency.

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I also bought the dips in each EOS and Ethereum as I see them as great opportunities for the future of the asset class and the potential of platforms to proliferate as the overall blockchain technology continues to expand its adoption. While they are not necessarily dollar cost averaging strategies, I am looking to add to the position for the ability to use them in the future to gain additional passive income. While I have yet to figure out how to really do achieve this on EOS, I am trying to accumulate enough Ethereum to prepare to stake it once the protocol is upgraded to Proof of Stake (POS). It has been great to see how these allocations have started to make a difference when looking at my overall portfolio regarding more diversification.

I am quickly approaching the first goal I had this year of getting my invested assets to be about 20% of the whole which is somewhat intimidating. However, I continue to see how there are many paths being developed to improve and increase adoption in this asset class over time. I also see it as a solution to the many fiscal and monetary concerns I see as an individual looking for ways to protect my value of what I have been able to accumulate in life. I continue to be comfortable with the idea of increasing it more as I still continue to build a position in stablecoins which will allow me to be more flexible in the future. This position is meant to be a closer gateway to increasing my exposure to the asset class over the long-term.

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DISCLAIMER: The information discussed here is intended to enable the community to know my opinions and discuss them. It is not intended as and does not constitute investment advice or legal or tax advice or an offer to sell any asset to any person or a solicitation of any person of any offer to purchase any asset. The information here should not be construed as any endorsement, recommendation or sponsorship of any company or asset by me. There are inherent risks in relying on, using or retrieving any information found here, and I urge you to make sure you understand these risks before relying on, using or retrieving any information here. You should evaluate the information made available here, and you should seek the advice of professionals, as appropriate, to evaluate any opinion, advice, product, service or other information; I do not guarantee the suitability or potential value of any particular investment or information source. I may invest or otherwise hold an interest in these assets that may be discussed here.


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EOS has the Resource Exchange for passive income. The APR at the moment is minimal 0.15%

https://bloks.io/rex

I have tried it a couple of times but I find myself having trouble with authenticating my keys with my hardware wallet! I need to give it another try!

Nice portfolio, still trying to figure out what is so great about EOS.

LOL! Me too! I like its concept but do not see the adoption yet but if adoption does come, I have it as a hedge against my Ether position which would not be able to scale where it is currently at.

I dropped EOS from my portfolio... it seems that all the good projects are forking the chain and doing their own chain (WAX; WORBLI,BEOS,etc...), and EOS is having major troubles with the decentralization of BP, and Block.one is going to help any chain, no matter if it's mainnet EOS or a sidechain like WAX, so I choose to move my money away until I have more clarity about the future of EOS and if it's worth investing in EOS or go for something with more potential like WAX....

If you have EOS I hope you are using REX to get some EOS passive income, you lend your EOS but still get all the airdrops(which are almost none atm).

I have my projects picked for future passive income, still don't have all of them though... I hope the transition to full fomo bull market takes a while longer so I can accumulate more.

I have tried but have had issues but need to try again soon. They have some strong capital behind it so I feel that it could still become a blockchain platform for large enterprises over time.

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