Buying The Dip 006: Portfolio Update 001 Pt.1
Hello Steemit.
As part of ongoing transparency and as a record for myself, as stated in BTD005, I intend on keeping you up to date with any large changes within my cryptocurrency portfolio and where appropriate (ie. new coins or large sales of coins) I will be briefing you on to what my thinking was within this. Updates like this will follow. But for this first post I will simply be adding a small description as towards my current plans with each coin. As you should be aware by now, most of the coins I hold are long term holds so you can expect to see a lot of the same faces in these posts. That being said, my trading strategy in general is build around the idea of forking funds into new projects when price rises occur so I will not ever update you without at least a substantial change to the portfolio itself. As a brief opener, my first portfolio stood at a simple statistic: Litecoin - 100%. Since then many changes have been made and the utility of BTC as a trading asset had a large effect on this 100% figure. That being said, I now own more.
Percentage Holdings are true as of 21/01/18 @ 14:18
10%+ Coins
Cardano [ADA]
Cardano is currently the largest part of my portfolio and by my estimates it will probably remain so. I have true believe in the projects vision and do not see this disappearing from my portfolio anytime soon. ADA is currently valued at ~$0.60 but we have seen it reach over the $1.20 mark. I expect this to happen again at the very minimum. Due to this, I would reccomend you buy into ADA while the price is still as much of a steal as it is.
Electroneum [ETN]
I'm British and have friends who hail from Maidstone, the HQ of Electroneum. I had unfortunately not heard of ETN at the time of it's ICO so haven't made quite the gains that some people have off of this project having bought in at around the $0.08 mark and having made a smaller addition around the $0.125 mark. As a lover of strong marketing I love the project and have particular interest in it's fake mining service currently in Beta Testing (unfortunately I was not chosen). That aside it the coin that I do myself genuinely mine currently. I do not have a mining rig and ETN's option of CPU mining has been great for me. I have not made much off that, but what I have made was free and is only going to go up. I expect big things from ETN.
Tron [TRX]
So far Tron has made me a fair bit of profit, but right now it is a black hole on my funds. My latest buy was at $0.16 and unfortunately we are nowhere near that figure again. As such my long term position on TRX is in doubt. News of plagiarism and a general disgruntlement towards Tron have led to a steady decline in price. But all is not lost and I think we will indeed see rises from Tron again with more announcements including a rumoured wallet and the currently up in the air situation regarding it's KuCoin listing. Time will tell on Tron.
Litecoin [LTC]
My entry point into the cryptocurrency market, I bought into LTC a few days before it's big rise in November and it gave me the necessary platform to diversify to the point that I have now. The idea of "the silver to Bitcoin's gold" is fantastic and the lowered transaction fees and speeds have served me well in transferring funds around between accounts and wallets. However the addition of more cryptocurrencies to the market may have hindered the progress alongside founder Charlie Lee's claimed sell off. A few moves from LTC and will we see huge improvements on the price and utility of this coin. Happy to hodl.
For Pt.2 of this initial portfolio overview please follow as that will be coming in due time, looking at the 9.99-3% coins including Ethereum, ETHOS, Lisk, Substratum, Binance Coin & KuCoin Shares.
Crypto is a fast world, so these figures could be well off by then.
HJB. CryptoKnight.
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