Crypto Retirement
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Crypto-retirement: We summarize April 2024. Declines despite halving
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Crypto-retirement: We summarize April 2024. Declines despite halving

created Michał Sielski3 May 2024

The long-awaited one came in April Bitcoin halving, i.e. halving the rewards received by miners mining subsequent coins. This was always a breakthrough moment that made BTC, and then other cryptocurrencies, record new price highs. This time, however, the market is sinking under its own weight, so our cryptocurrency-based retirement portfolio has lost some of its value. Since the beginning of the investment, the ForexClub.pl cryptocurrency wallet has increased in value by 152,77%.

April, and especially the turn of May 2024, was not kind to cryptocurrency holders. Binance Coin has almost traditionally performed the best among our coins. The BNB rate did not even react to the request for a mandatory prison sentence for its former president and founder, Changpeng Zhao. However, the valuations of all cryptocurrencies in our portfolio are currently lower than a month ago.


Check it out: Cryptoretirement: March 2024 is marked by further growth


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 the portfolio will include other cryptocurrencies, recently CRV, SAND, AXS, GMT and BSW, we have completed investments in LINK, SOL and APE,
  • the investment horizon is at least 10 years.

CHECK BINANCE

A month ago we bought Binance Coin (BNB)

A month ago we bought Binance Coin. The native cryptocurrency of the Binance exchange is not only a stable ship on the recently booming cryptocurrency oceans, but also a guarantee of additional income from staking and the allocation of new cryptocurrencies that debut on the Binance exchange.

After the purchase at the beginning of April, our cryptocurrency retirement portfolio looked like this:

after_purchase03_4

The results of our cryptocurrencies in April 2024:

  • Binance Coin (BNB) -1,88%
  • Bitcoin (BTC) -9,03%
  • Ethena (ENA) -15,23%
  • Cardano (ADA) -18,83%
  • Axie Infinity (AXS) -22,12%
  • Green Metaverse Token (GMT) -25,17%
  • Curve DAO Token (CRV) -29,13%
  • Biswap (BSW) -34,80%

Price drops obviously affected the valuation of our portfolio, although this was compensated by the dropshots of new cryptocurrencies that we receive for owning BNB. Therefore, at the beginning of May 2024, our crypto portfolio looked like this:

3_05_2024

We bought Bitcoin (BTC), we sold Ape Coin (APE)

This time we are buying Bitcoin because we believe that the recent declines are only a temporary blip, and in the long term the valuation of the king of cryptocurrencies will certainly be much higher. Of course, we stake the entire amount immediately, although in this case the interest rate does not exceed 0,3% per year. We hope that the price increase will compensate for this.

After buying BTC, our wallet looks like this:

03_05After the purchase

We are also exiting our investment in Ape Coin (APE). For two reasons: the hype about monkeys is probably over, because their place was taken by meme dogs, and recently cats. Moreover, the valuation of our holdings of this cryptocurrency dropped below PLN 100, so we decided it was a waste of time, because even a large increase would not make us feel it significantly. So we converted APE to BNB.

Especially since most of the new cryptocurrencies received for owning BNB have much higher valuations. We will keep them for at least a year. If they are not profitable within this time, we will also convert them into BNB, fueling our financial perpetual motion.

Currently, this is what our holdings of smaller cryptocurrencies look like after the recent drops:

smallerCrypto

Crypto Retirement: A Summary

Let us remind you: we deposited 51 times of EUR 60 each, i.e. we invested a total of EUR 3. On January 060, 3.05.2024, the account balance was EUR 7. In 734,88 months, our portfolio increased by EUR 50, or 4%.

Portfolio balance after 50 months: 7 734,88 euro (sum of payments: EUR 3060)

Loss in April: -8,11%

Profit after 50 months: + 152,77% (+ EUR 4 674,88)

Next summary in a month!

Learn more about selected cryptocurrencies:

  1. Bitcoin - all about the "king of cryptocurrencies"
  2. Link - a cryptocurrency that Intel has bet on
  3. ADA - a token created by scientists
  4. BNB - a token from the Binance exchange
  5. SAND - better than Minecraft because on blockchain and NFT
  6. SOL - still the cheapest blockchain platform on the market
  7. CRV - a platform for earning on stablecoins
  8. AXS - the gaming hit of recent years
  9. APE Coin - the cryptocurrency of the most famous NFT
  10. GMT - STEPN application - a new hit on the cryptocurrency market?
  11. BSW - 107% token stacking platform
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About the Author
Michał Sielski
Professional journalist for over 20 years. He worked, among others, in Gazeta Wyborcza, recently associated with the largest regional portal - Trojmiasto.pl. He has been present on the financial market for 18 years, he started on the Warsaw Stock Exchange when the shares of PKN Orlen and TP SA were just being introduced to the market. Recently, his investment focus has been exclusively on the Forex market. Privately, he is a parachutist, a lover of Polish mountains and a Polish karate champion.