Crypto Retirement: June 2022 with continuation of declines
Buy while the blood is shedding - will the old stock exchange adage also work for cryptocurrency market? After another month of high discount, we invest in accordance with our strategy: we buy for 60 euro Bitcoin (BTC) so cheap that just a few months ago it seemed impossible. In June, our retirement crypto wallet depreciated again. However, we are still here from the beginning of the investment up 113,32% after 28 monthsalthough the fact is also that it was much better.
Check it out: Crypto Retirement: May 2022 with a deep correction in the crypto wallet
Crypto-retirement rules of the Forex Club Portal:
- we invest on Binance Stock Market, which is not only the largest in the world, but also - so far - the most stable,
- every month we allocate an amount of EUR 60 (when we started it was the minimum deposit threshold at Binance),
- we want to invest approx. half of the funds in Bitcoin, as the "king of cryptocurrencies" and the indisputable flywheel of the entire market, but it is not a permanent rule,
- in addition to BTC, at the beginning we selected 3 other cryptocurrencies: LINK, ADA and BNB, in which we will invest,
- if it is possible, we deposit cryptocurrencies on "deposits" in Binance, recently also into the liquidity pool,
- every few months we decide whether there will be other cryptocurrencies in the portfolio, most recently CRV, SOL, SAND, AXS, APE, GMT and BSW, we have completed our investments in LINK,
- the investment horizon is at least 10 years.
Cryptocurrencies and the financial pyramid
Let us remind you that after the last purchase for EUR 60, at the end of May 2022, our portfolio looked like this:
We hoped it was the end of the decline, but we didn't despair of lower prices. With our investment horizon, which goes back more than 7 years, this is an ideal situation - we can still buy cheaply.
The market showed, however, that "cheap" is a relative term. In June, the sell-off deepened and the cryptocurrency fear index hit the bottom, hitting 7 out of 100 points, which is "Extreme fear".
The media campaign for cryptocurrencies undoubtedly contributed to this. There are still voices that they have no value, that they are a financial pyramid and a Ponzi scheme. As a result, apart from price drops, interest rates on deposits also decreased, because the turnover slowed down and no one has to pay so much for providing liquidity anymore.
The results of our cryptocurrencies in June 2022:
- Curve DAO Token (CRV) -49,06%
- Biswap (BSW) -47,44%
- Bitcoin (BTC) -37,25%
- Green Metaverse Coin (GMT) -35,10%
- Axie Infinity (AXS) -34,06%
- Ape Coin (APE) -30,35%
- Binance Coin (BNB) -30,23%
- Sandbox (SAND) -23,71%
- Solana (SOL) -22,84%
- Cardano (ADA) -20,52%
At the end of June, our portfolio looked like this:
We buy Bitcoin
So we stick to our strategy and invest another 60 euros at the turn of the month. This time we buy BTC because the price is still attractive and altcoins always bounce later than King of Cryptocurrencies. Although their price changes are usually also more dynamic, it is for this reason that in recent months the balance in our portfolio has been disturbed to the detriment of BTC and it is a good time to restore it a bit.
Crypto Retirement: A Summary
Recall: we made a deposit of EUR 29 60 times, so we invested EUR 1 in total. On July 740, 01.07.2022, the account balance is EUR 3. Our portfolio increased by EUR 711,78, or 28%, in 1 months.
Portfolio balance after 29 months: 3 711,78 euro (sum of payments: EUR 1740)
Loss in April: -30,64%
Profit after 28 months: + 113,32% (+ EUR 1 971,79)
Next summary in a month!
Learn more about selected cryptocurrencies:
- Bitcoin - all about the "king of cryptocurrencies"
- Link - a cryptocurrency that Intel has bet on
- ADA - a token created by scientists
- BNB - a token from the Binance exchange
- SAND - better than Minecraft because on blockchain and NFT
- SOL - still the cheapest blockchain platform on the market
- CRV - a platform for earning on stablecoins
- AXS - the gaming hit of recent years
- APE Coin - the cryptocurrency of the most famous NFT
- GMT - STEPN application - a new hit on the cryptocurrency market?
- BSW - 107% token stacking platform