Anyone that holds the majority of their cryptocurrency portfolio in Alts ought to be looking at this chart.
Not even going to do any analysis, the result is already in. At this point, it could be the bottom for Alts, but it is hard to hold on to almost anything but BTC knowing that your investment performance is being slowly eaten away. This is partly to do with the SEC and XRP and while we might call it FUD, the result is in. Although the majority of my investment is in BTC, I am at a loss now as to what to do with a non-trivial amount of funds in the Alts. At this point I cannot justify adding to what appears to be a losing position, rather planning an exit strategy for many of my Alt-Holdings. The stress of monitoring a dozen other instruments in addition to holdings in the "adult market" as I call it...just leaves me with the desire to set sell prices and wait for more favourable exchange rates should the trend reverse temporarily.
I wanted this weekend to be relaxing, but the SEC has, in their infinite wisdom decided to drop this bomb at the worst time possible. Everyone should have been relaxing at this time of year, and now we do not get any peace. Not trying to find a pattern in that, but I can't help noticing the pattern of coincidences.
I thank my lucky stars that in 2018 I noticed that BTC outperformed Alts, over the long term with a few, usually temporary outliers. Have a nice weekend, and Merry Christmas, or happy holidays, or enjoy your extra-long weekend.
Not even going to do any analysis, the result is already in. At this point, it could be the bottom for Alts, but it is hard to hold on to almost anything but BTC knowing that your investment performance is being slowly eaten away. This is partly to do with the SEC and XRP and while we might call it FUD, the result is in. Although the majority of my investment is in BTC, I am at a loss now as to what to do with a non-trivial amount of funds in the Alts. At this point I cannot justify adding to what appears to be a losing position, rather planning an exit strategy for many of my Alt-Holdings. The stress of monitoring a dozen other instruments in addition to holdings in the "adult market" as I call it...just leaves me with the desire to set sell prices and wait for more favourable exchange rates should the trend reverse temporarily.
I wanted this weekend to be relaxing, but the SEC has, in their infinite wisdom decided to drop this bomb at the worst time possible. Everyone should have been relaxing at this time of year, and now we do not get any peace. Not trying to find a pattern in that, but I can't help noticing the pattern of coincidences.
I thank my lucky stars that in 2018 I noticed that BTC outperformed Alts, over the long term with a few, usually temporary outliers. Have a nice weekend, and Merry Christmas, or happy holidays, or enjoy your extra-long weekend.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.