It’s been a tumultuous few weeks in the global stock markets as selling pressure has sent prices lower than anticipated. Unfortunately, the crypto markets have not been able to avoid the storm as even the major coins such as Bitcoin and Ethereum tumbled down as well. So no surprise that I experienced the worse month in my Crypto Trader’s Academy Journey with a loss of $364.09.
Here are the essential stats for the first eleven months of the review:
Acquisition Cost: $1160.14 (Completed on February 11th, 2021)
Starting Bank for Review: $1273.27 (March 1st, 2021)
Minimum Bank: $905.28 (Jan 22nd, 2022)
Maximum Bank: $2197.55 (May 10th, 2021)
Number of Profitable Months: 6/11
Current Bank: $981.01 (January 31st, 2022)
Profit/Loss Since March 1st: -$292.26
Profit/Loss Since Acquisition: -$179.13
Return on Bank since March 1st: -23.0 %
Return on Bank since Acquisition: -15.4 %
The graph below shows the daily value of the portfolio from March 1st through January 31st, 2022
The values each day are Noon amounts.
During January, two more coins were sold, leaving 18 in the official CTA portfolio. Eight coins are now being staked.
A short-term trade in Ethereum was set up at the end of January and I will report on its outcome in February’s update; as well as reporting on at least two further coins being staked and at least eight airdrops that I’ve set up.
One can of course sell one’s portfolio at any time, but I will be following the official portfolio and playing the market cycle most likely for at least a year.
Airdrops involve crypto projects sending free tokens en masse to their communities in a bid to encourage adoption.
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.
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.