Another poor month for the CWK portfolio with a loss of $131.29. We are well into a bear market now, but note that the recent bear market isn’t just crypto, all markets (stocks, bonds, etc) and in particular high growth markets like tech stocks and crypto are way down now that inflation is running rampant, interest rates are rising and a recession is potentially on the horizon. Another way of looking at is that at today’s prices and since the March 2020 Covid low point; the S&P500 index is only up 75% while BTC is up ~400% and ETH is up ~1,200%.
As a result of the further fall in crypto prices: the last coin within the official portfolio (that I didn’t have) dropped below its buy-in level, so I purchased it.
Here are the all-important stats:
Acquisition Cost and Starting Bank for the Review: $1005.31 (September 29th, 2021)
Minimum Bank: $255.75 (June 18th, 2022)
Maximum Bank: $1428.41 (November 25th, 2021)
Number of Profitable Months: 3/9
Number of Losing Months: 6/9
Number of different crypto coins in the portfolio: 25
Current Bank: $293.52 (June 30th, 2022)
Profit/Loss: – $711.79
Return on Bank: -70.80%
The graph below shows the daily value of my portfolio from September 29th, 2021 through June 30th, 2022:
To put the longer-term prospects of crypto into perspective, check out the image below which shows the value of Bitcoin (BTC) over the last eleven years. The y-axis is the Log scale of USD. As can be seen, BTC has wrongly been declared dead and only a bubble on previous occasions. As BTC rises, Ethereum surely follows along with other ALT crypto coins.
The bear market is in fact an opportunity to purchase crypto coins at a great value.
Currently, you can snag quarterly membership at £199.97 or yearly membership at £599.97.
Why didn’t Kash rebalance the portfolio into cash instead of riding the price all the way down?
Because his methodology is a long-term hold as he expects the value of the portfolio to rise to greater heights in the long run. For those just joining the service then his methodology is to purchase some of the cryptos at current low and value prices.