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Week 25 Recap

As much as I'd like to say we're through the worst, I really don't think we've touched bottom yet. I haven't been folling the Tether and Bitfinex disaster all that closely but my guess is that it's going to unfold like a slow moving car crash rather than a very sudden and abrupt end like BitConnect.

Another important indicator (in my mind anyway) is the consistency with which these alts move in terms of price. Each week most alts gain or lose a very similar % of their value with a handful of outliers here and there. This hints at a market that is still fundamentally untethered (Tether, get it?) from reality because these price moves are consistent despite each alts intrinsic value. For example, if some of these coins had real value beyond just an imaginary store of value, they would retain their value better than others like Dogecoin. That's not the case and it means that most of the buying and selling going on is still largely hype driven. I will concede that this happens in securities markets as well, however it doesn't move in tandem anywhere near like what crypto does.

Week 25 Results

Yet another horrible week. We're edging down to 100% gain territory since we started. Probably not a terrible time to buy if you're looking for an entry point to add some crypto to your investment portfolio despite my comments above. Least worst this week was STX with a loss of -$1.50 USD (-40%). XDN lost the most at -$40.77 USD (-39%). The portfolio lost a whopping $420.22 USD (-35%) overall this week.

Week 25 Summary

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Since inception:

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Symbol Quantity Price January 28th February 4th Week Change $ Week Change %
AEON 12.4 2.94 61.26 36.46 -24.80 -40%
BCN 8500 0.004479 64.43 38.07 -26.36 -41%
BTC 0.00248323 8436.06 29.30 20.95 -8.35 -28%
BNT 3.42 5.21 27.87 17.82 -10.05 -36%
DASH 0.035 563.27 28.59 19.71 -8.88 -31%
DCT 8.221 0.9516 14.63 7.82 -6.81 -47%
DNT 47.75 0.08849 8.09 4.23 -3.87 -48%
DOGE 6000 0.004438 45.43 26.63 -18.80 -41%
EDG 11 1.02 15.95 11.22 -4.73 -30%
EOS 7.524 9.19 109.47 69.15 -40.33 -37%
ETC 0.701 21.38 23.05 14.99 -8.06 -35%
ETH 0.029 849.03 35.73 24.62 -11.11 -31%
LSK 3.31 20.35 78.35 67.36 -10.99 -14%
LTC 0.2 152.92 38.63 30.58 -8.04 -21%
MAID 20 0.3994 14.12 7.99 -6.13 -43%
NXT 94 0.2005 31.44 18.85 -12.60 -40%
OAX 5.587 0.7825 7.60 4.37 -3.23 -42%
PLBT 1.346 4.15 9.95 5.59 -4.36 -44%
PPC 5.618 4.13 30.00 23.20 -6.80 -23%
QAU 59.229 0.1901 15.03 11.26 -3.77 -25%
SC 1400 0.02421 64.92 33.89 -31.02 -48%
SNC 112.863 0.2829 40.61 31.93 -8.68 -21%
STRAT 1.844 8.13 26.90 14.99 -11.91 -44%
STX 4.167 0.5354 3.73 2.23 -1.50 -40%
XDN 3700 0.01735 104.97 64.20 -40.77 -39%
XEM 38 0.5731 38.00 21.78 -16.22 -43%
XMR 0.12 225.18 39.77 27.02 -12.75 -32%
XRP 62 0.8478 84.94 52.56 -32.38 -38%
ZEC 0.04 352.72 19.10 14.11 -4.99 -26%
ZRC 7.808 1.31 18.58 10.23 -8.35 -45%
ZRX 28.066 1.19 56.97 33.40 -23.58 -41%
Totals: 1187.42 767.20 -420.22 -35%

Want to follow along?

If you're Canadian and want to try the same thing, I use QuadrigaCX (wire transfer, interac online) and Coinbase (VISA, Mastercard, AMEX) to purchase bitcoin, ethereum, or litecoin to transfer to an exchange that supports all these alternative currencies. I use Binance to trade as their selection of trading pairs is excellent.

Click here for details about this experiment and what the rules are.

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