One year on and my crypto portfolio is currently worth $995.58, which is a loss of $164.56 (14.2% down) since acquisition. This is disappointing, although not surprising given the recent impacts of covid-19 and the Ukraine conflict on markets in general – not only in the crypto-sphere.
The longer-term outlook for crypto is still looking very positive with increasing widespread interest. Recent examples of this include mainstream hedge funds pouring billions of dollars into crypto; some of the top US Universities (MIT, Stanford, Columbia, Princeton) now having dedicated crypto centres; and The White House issuing a recent ‘Executive Order on Ensuring Responsible Development of Digital Assets’.
It is important to point out that this service is mainly geared for gains over the period of a market cycle (3-4) years and this is drummed into participants at almost every weekly CTA broadcast. So it would not be appropriate to give CTA a verdict (pass/fail or neutral) at this stage.
Some general comments on CTA as a service: this is a very active service and trade and market updates are given generally two to three times a week, and the Facebook Group Admin is very supportive of members helping their crypto journey forward. The site has been revamped recently to enable easier surfing, and now includes a detailed section on keeping your crypto assets secure.
As well as The Main Porftoflio, CTA now also advises on staking; airdrops, and short-term trades. Consequently, I have divided this report into four areas: The Main Portfolio, Airdrops, Staking, and Short-Term Trades.
The Main Portfolio
A very tiny gain of $14.57 over the month of February.
Here are the essential stats for Year One:
Acquisition Cost: $1160.14 (Completed on February 11th, 2021)
Starting Bank for Review: $1273.27 (March 1st, 2021)
Minimum Bank: $874.89 (Feb 12th, 2022)
Maximum Bank: $2197.55 (May 10th, 2021)
Number of Profitable Months: 6/12
Number of Crypto coins in the portfolio: 17 (includes one stable coin)
Current Bank: $995.58 (February 28th, 2022)
Profit/Loss Since March 1st, 2021: -$277.69
Profit/Loss Since Acquisition: -$164.56
Return on Bank since March 1st, 2021: -21.8 %
Return on Bank since Acquisition: -14.2 %
The graph below shows the daily value of the portfolio from March 1st, 2021 through February 28th, 2022
The values each day are Noon amounts.
During February, two more coins were sold, leaving 16 in the official CTA portfolio. plus one stable coin.
Airdrops
CTA members have been given easy-to-follow step-by-step instructions for setting up wallets and exchanges for currently eight potential airdrops.
I managed to set up all airdrops for $91.10 which included exchange deposit fees, exchange currency conversion fees, transfer fees between exchanges (representing about 75% of the total fees due to gas fees on the ETH network), activation fees, and staking fees. So one is punting just under $100.00 for a high potential return. Any airdrops and their value will be reported in future updates.
Staking
A total of nine coins are now being staked plus an additional two minor coins outside of the main portfolio associated with preparing for potential airdrops. I will be reporting on the outcome of such staking in six months’ time.
Short Term Trades
An official (admin advised) short-term trade in Ethereum was initialized on January 22nd,2022, and closed on February 1st, 2022. This resulted in a return on investment of 9.98% on the sum invested.
The next update will be in two months.
MIni Glossary:
Airdrops involve crypto projects sending free tokens en masse to their communities in a bid to encourage adoption.
A Blockchain is a system in which a record of transactions made in bitcoin or another cryptocurrency is maintained across several computers that are linked in a peer-to-peer network.
Gas fees are the transaction fees that users pay to miners on a blockchain protocol to have their transactions included in the block.
A Market Cycle is a recurring price pattern in a market triggered by underlying fundamentals such as innovation or regulatory changes. For example, policymakers banning combustion engines might start a new market cycle for alternative propulsion methods such as electric cars. As a result of the policy change, more money will flow into the development of electric cars (and probably other methods), which should spur growth in this sector.
Stablecoins are cryptocurrencies that attempt to peg their market value to some external reference like the U.S. dollar.
Staking cryptocurrencies is a process that involves committing your crypto assets to support a blockchain network and confirm transactions. Staking can be a great way to use your crypto to generate passive income especially because some cryptocurrencies offer high-interest rates for staking.
