Since my last update three months ago, the bank has fallen further from $697.48 (Sep. 30th, 2022) to $397.98 (Jan. 1st, 2023).
The collapse of one of the major crypto exchanges, FTX, and continuing economic recessionary tendencies have led to a further bearish trend in the crypto market.
Two new crypto coins were purchased. It is also important to note that six of the coins in the portfolio that had been purchased at FTX are currently irretrievable with a resultant loss of $49.17 to the portfolio. This is factored into the results and graph below.
Here are the all-important stats:
Acquisition Cost and Starting Bank for the Review: $1505.31 (September 29th, 2021)
Minimum Bank: $397.89 (January 1st, 2023)
Maximum Bank: $1928.41 (November 25th, 2021)
Number of Profitable Months: 5/15
Number of Losing Months: 10/15
Number of different crypto coins in the portfolio: 28
Current Bank: $397.98 (January 1st, 2023)
Profit/Loss: -$1107.42
Return on Bank: -73.6%
The graph below shows the daily value of my portfolio from September 29th, 2021 through January 1st, 2023.
It’s quite clear from the graph, that the CWK portfolio has performed poorly during this review and there have been no advised trades. It is primarily a long-term service (at least at present) that is most likely to raise its value during the next bull run, that is why I am continuing to monitor it.
In general, the best time to sign up for a crypto service is at or near the bottom of a bear market as this is the time when the coins are at their greatest value for long-term growth. So now is a good time. I’ve set up an additional portfolio of crypto coins to monitor its performance from Jan 1st, 2023 onwards and I will report on this going forward, as well as the original one.
Currently, you can snag quarterly membership at £199.97 or yearly membership at £599.97.
The next update is in three months.
