Monthly Crypto Portfolio Update (May 2019)

in #busy5 years ago (edited)

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The run in the cryptocurrency markets continue as bitcoin continues to defy gravity and slice through resistance easily despite news that would have impacted prices negatively in the past. This month, other assets started to play catch up with bitcoin although others have not. This has seen bitcoin dominance come down from recent highs of 60% to about 55% where it ended the month. It has been an incredible run to see as the market has now more than double from its lows earlier this year. For May 2019 alone, Market Capitalization has gone from $176 billion to $274 billion.

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Perspective is interesting as earlier this year bitcoin itself fell below a $100 billion market capitalization! This continues to demonstrate how immature the market continues to be as sentiment and capital flows can shift in any moment and move markets dramatically. The potential of the market to move will continue as more adoption is increase and new participants continue to enter and experiment with the capabilities of blockchain technology and their underlying cryptocurrencies.

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Given the way the markets have performed, I continue to be more convinced that we have seen the worst of the bear market. While we expect to see more volatility, including steep corrections and price declines, it seems as the trend has started to stabilize and have signs of reversal. This has enabled me to initiate my strategy of deploying more capital to cryptocurrency assets over time. The ability to start an adequate Dollar Cost Averaging strategy is a great way to accumulate assets for the long term as I have learned with my Steem strategy which will probably start to wind down as I deploy this new one. While Steem will remain my key asset to accumulate, I was to take the opportunity to build other positions based on some opportunities that exist and correlation with my overall financial plan.

I continue to remain on the sidelines with regards to the traditional financial markets which have made my overall invested asset portfolio become more stable, only earning interests and accumulation from my monthly savings. I expect this to remain like this for some time as the amount of manipulation and uncertainty in the financial markets are really only benefiting those with large capital positions and/or information which I do not have. This will help my goal of achieving 30-40% of my invested assets being allocated to cryptocurrencies over time.

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After months of research and consideration (even hesitation), I have finally executed on my plan to add a Stablecoin to my portfolio. I have decided to purchase DAI to my portfolio in an effort to improve the monetary sovereignty of my assets over time. While I continue to have concerns about its liquidity and underlying framework, I think it is the most decentralized option for a conservative position for my portfolio. I will be using an Automatic Dollar Cost Averaging Strategy to build a position over time with DAI. I am unsure of what the target allocation will be but it could become a large allocation over time if we are able to see more adoption with cryptocurrencies over time.

I have also added for another month to my Ether position. I continue to be encouraged by the development we are hearing from the Ethereum side as they continue to prepare for changes into Proof of Stake which will add the ability to passively earn on the Network for staking. This has been my focus given the relative attractive price we are seeing as it has slightly underperformed other crypto assets this year. However, I have not ended my thoughts here as I believe that many assets remain attractively priced and could be prepared for great returns as the market rebound continues to have the potential to expand and provide the opportunity for great projects to outperform those that remain laggards.

Now that the worst is over, it will be back to research for me to determine what assets can provide the best value for their price. I have already started to pack a number of articles, books, and white papers to take on my upcoming vacation which includes a long plane flight. It is exciting to see the sentiment of the market and its participants improve like it has recently. However, we must all remember that this can shift at any moment and quite abruptly. It is still the time to remember our learnings and adapt so that we can apply the best practices when investing which ultimately include not investing what you cannot afford to lose and doing your own homework!

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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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Sounds like you've done a lot of research. Most unlike me, i just go with feel and punt and hope.

The thing I don't like about Ether is the gas fees, they just do my head in. Is the new staking system going to be linked to that in any way?

I believe that the Gas fees will remain as it is the one way they have chosen to combat spamming the network to some success if you compare to the likes of EOS.

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Oh does EOS have a problem with spamming already?

That would be annoying as I'm only just figuring out how it all works! I'm also pretty excited about the concept TBH - now I've sorted out my simple EOS wallet, which took me a while to get my head around honestly!

The month of may seems to be so good to see and there were so much ups and down in the price of the BTC but over all it could be in positive at the end so its happy for the crypto community. Be positive.

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We will see as we are getting a good pullback now but it is normal after the lrice increase we saw so far this year!

Posted using Partiko iOS

Greetings @newageinv

Excellent presentation on investment you have given in this publication.

Thanks to these publications, I am still learning about the world of investment in cryptography.

Thank you for sharing your knowledge with the Steemit community

Your welcome! It is always great to share my strategies and also also get perspectives of the communities to adjust accordingly!

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