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RE: EXPERIMENT - Tracking Top 10 Cryptocurrencies for One Year (2018) - Month Ten - Down 75%
This is fascinating!
Would you have had fairly different results if you had started on Feb 1 instead of Jan 1? Surely...
Personally, and I apologise if this is a jerk request... but I'd love to see you invest another $1000 on Jan 1... and basically run your two experiments side by side...
I know it seems like like a Top 10 Index fund as a strategy was a massive failure, but it's hard to believe we'll be in a similar space at this point next year...
Hey there @aussieninja, thanks for stopping by!
Good question. I went ahead and plugged in the numbers for you and this is what it would look like if I started February 1st, 2018, with the new amounts I would be able to buy at Feb 1 prices:
Actually 31 January, because that's when I did by first update :)
You may have to zoom in (it's coming up small on my laptop) but bottom line is it would be fairly similar. Instead of being overall down 75%, a Top Ten portfolio would be down about 68%. So instead of having a value of $250, it would be worth about $315.
It also would flip the best performing crypto to date from Stellar to Bitcoin. NEM and Cardano would still be the worst performing out of the group.
I'll definitely take your suggestion into consideration, although I'm not sure I can swing $1k by New Year's Day! :) I could just track the numbers, but I have to say, having but actual $ into this has really made me pay attention. I don't know if I'd be tracking so closely if I hadn't put a bit of actual skin in the game, probably not...
Ahhhh, sorry I totally stuffed that... I thought the BTC correction was in mid-Jan, but now that I've actually spent 1 second looking at it, I see that the 6th of Feb is actually when BTC hit $6,100ish.
I know, and I'm kind of apologetic because I know I can't swing $1000 by NYE, otherwise I'd piggyback off your work and try my own experiment, because it is truly interesting... especially because there is real life dollars and therefore opportunity cost involved.
I'm sure companies are working on their own Crypto Index products, but I'm also sure they wouldn't be keen to advertise 'Invest with us, lose 75%'. Great work Joe!