Crypto Retirement

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Cryptoretirement: October 2023 under the sign of Bitcoin ETF

created Michał SielskiNovember 2 2023

Another month of growth on the cryptocurrency market. Our retirement portfolio grew by 2023% in October 7,83, mainly due to large increases in the price of Bitcoin (BTC). They occurred after a rumor appeared on the market that an ETF fund based on this cryptocurrency had already been approved by the SEC. This hasn't turned out to be true (yet), but it has fueled investor enthusiasm.

Check it out: Crypto-retirement: September 2023 – finally in the black

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.

CHECK BINANCE

At the beginning of October, we bought Cardano (ADA)

After replenishing our portfolio mainly with BNB and BTC in the previous months, a month ago we decided to increase our holdings of Cardano (ADA). Altcoins, especially those with such solid foundations and wide application, can gain a lot in the upcoming bull market (which we believe in). Already in October, ADA prices increased by 10,12%.

After purchasing for 60 euros, at the beginning of October 2023, our portfolio looked like this:

2_10After the purchase

The results of our cryptocurrencies in October 2023:

Bitcoin (BTC) + 25,09%
Axie Infinity (AXS) + 15,03%
Green Metaverse Token (GMT) +14,44%
Ape Coin (APE) + 12,88%
Sandbox (SAND) + 10,35%
Cardano (ADA) + 10,12%
Binance Coin (BNB) + 4,47%
Biswap (BSW) -0,29%
Curve DAO Token (CRV) -3,50%

However, the last month was marked by increases, primarily in Bitcoin. The king of cryptocurrencies benefited from... a rumor that an ETF fund based on BTC was to be approved by the Fed. Before BlackRock and the Fed could deny it, the price increased by 5% in 10 minutes. After it turned out that this was not a fact (yet), the price dropped, but within a few days it returned to record levels this year, because investors hoped that sooner or later the BlackRock prospectus would be approved.

Behind Bitcoin - as always, with a delay - the prices of other cryptocurrencies also started to increase. There is undoubtedly a lot of optimism in the market.

Thanks to this, at the beginning of November our portfolio looked like this:

1_11_23 crypto-retirement

We bought Bitcoin (BTC)

On this wave of optimism, we decided to buy more Bitcoin. We hope this is the beginning of a BTC rally, regardless of if and when the ETF prospectus is approved. It must be remembered that historically autumn has always been the best for cryptocurrencies, and the Bitcoin halving is approaching, which has so far guaranteed growth.

After buying BTC, our wallet looks like this:

1_11_23_AfterPurchase

Crypto Retirement: A Summary

Recall: we deposited 45 times 60 euros, so we invested a total of 2 euros. On August 700, 01.11.2023, the account balance is EUR 3. In 163,93 months, our portfolio increased by EUR 44, i.e. by 463,93%.

Portfolio balance after 43 months: 3 163,93 euro (sum of payments: EUR 2700)

Profit in October: + 7,83 %

Profit after 44 months: +17,18% (+€463,93)

Next summary in a month!

Learn more about selected cryptocurrencies: