New Cycle Start
I'm usually not the person to 'start over' after a bad result which the Altcoin portfolio turned out to be as I kept buying for way too deep into the previous cycle without hitting a single one that really went crazy. Just for practical reasons though, I will keep part of what I still hold from it (Link) and start a completely new Portfolio.
Altcoin Portfolio Goals
This Portfolio again mainly has the purpose to soften my Fomo for coins that are hyped all over the place and which I fundamentally don't really have much conviction in. Getting tiny positions in them at least makes me feel that I'm not missing out in case they would pump. I will also force myself to take out what I initially invested the moment a coin reaches a specific price movement. If it does a 5x at any point, I will sell 20% of my position. In order to do this, I always will buy 25% more of it. Every month, I will try to do an update and get most of my positions filled sooner rather than later. in the previous cycles, the winners mainly came from the first 6-7 months of buying. I will be using spare funds I find here and there in order to do the buys.
To make tracking easier, I will use the Coingeicko app
January 2024 Buys
So far, I only added 1 coin to the portfolio after the dip when it reached a potential target buy zone. I'm ready though to see it break to the downside and won't be using any stop losses. Just letting it ride an entire year remains the plan.
My first buy ended up being 2500 KASPA for around 248$ so to keep it simple at 0.1$. This would make the point where I take the initial investment out at 0.5$ selling 500 KASPA. I had a deeper look at this project around 2 weeks ago.
I fundamentally see it as overpriced vaporware with a crazy community which tend to be the projects that have a big potential to pump even though it's already up a lot compared to the lows. In the previous Portfolio, those were the projects that ended up doing good buying in after a pump. There has now been a 40%+ correction compared to the lows reaching the upward-sloping support line. If that breaks though, there could a a steep fall to the downside.
It already is down a bit compared to when I bought it yesterday.
| Month | Total Invested $ | Total Now $ | Total Return |
|---|---|---|---|
| January 2024 | 248.75$ | 241.30$ | -7.45$ |
I still have a lot of different coins in sight but I'm waiting either for the right target prices or to see them skyrocket and miss out.
Crypto Exchanges that I am using...
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Important: By no means take this post and these coins as investment advice. Rather see them as entertainment watching the trainwreck or motivation to possibly start your own altcoin portfolio growing it over time.
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