July marked the second month of investing in cryptocurrencies. Positions were added to in Bitcoin ($BTC) and ethereum ($ETH), and initialized in three additional cryptoassets: Bancor ($BNT), EOS ($EOS), and FunFair ($FUN). Net return after two months is 14.7%. Not bad for a generally down month.
Most of the month was spent waiting for opportunities. There had been quite a big run up last month and the selloffs, in bitcoin especially, began at the beginning of July. I watched the charts and waited for weeks for the right opportunity to buy. As luck would have it, I picked the bitcoin bottom almost exactly, only missing it by a percent or so.
With so many ICOs happening, it became quite the task to keep up on the news. Big shoutout to Omar, a.k.a. Crypt0, of crypt0snews.com and steemit.com/crypt0 for his regular updates, programs, and vlogs dealing with the crypto space. He has been a great source of information and ideas.
Steemit has been a great source for crypto dividends. Although I haven't been as active as I'd like, my posts and curation are still netting me maybe 1-2% in earned dividends each week, most of which I'm reinvesting in the platform. I did take the payout from one particularly well-paid post and buy .25 more DASH tho.
I used some leftover ETH to initiate positions in FUN and EOS, the latter of which is looking very promising, and is likely the position I will start adding to this month.
At of today, August 1st, approximately 90% of available capital is invested, with 10% sitting at the ready for the more pullbacks to add to current positions. I'm keeping an eye out for newcomers, but feel like I've built a good core and am primarily looking to add to existing postions at this point. BringIt :)
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