Project 2018 – Update week #2

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Project 2018 – Update week #2

As you know we’re running a project to hold $2,500 of cryptocurrencies for an entire year. Welcome to our second update! If you are new, check out our first post on the project.

Week 2 Introduction

This week our portfolio took a dip as the market lost it’s momentum because of the false news that South Korea was banning cryptocurrency trading. The market recovered after the news was confirmed as false but it didn’t recover enough for us to make any gains. Additionally, a few coins (Ripple, Siacoin, Lisk) took some big hits to our portfolio as they were overbought from the week before.

Only 5 of our 25 cryptocurrencies made any gains this week.

Week 2 Data

Project 2018 - week 2

CryptocurrencyJan 8th ValueJan 15th ValueGain / Loss %
Bitcoin$115.62$102.48-11.36%
Bitcoin Cash$104.79$106.57+1.70%
Cardano$141.67$121.98-13.90%
Civic$118.39$114.94-2.91%
Digibyte$156.57$132.86-15.14%
DigitalCash$112.07$101.62-9.32%
Ethereum$152.73$176.30+15.43%
FunFair$176.67$145.78-17.48%
Golem$130.25$109.62-15.84%
Komodo$110.45$84.58-23.42%
Lisk$196.96$138.98-29.44%
Litecoin$114.71$104.41-8.98%
Monaco$120.26$109.38-9.05%
Monero$117.40$121.95+3.88%
Navcoin$111.60$119.29+6.89%
NEM$160.00$141.00-11.88%
NEO$137.34$211.89+54.28%
OmiseGO$134.47$125.99+6.31%
Power Ledger$163.20$135.59-16.92%
Qtum$112.38$108.50-3.45%
Ripple$132.63$96.32-27.38%
Siacoin$249.13$202.15-18.86%
Stellar$160.00$152.46-4.71%
TenX$108.25$104.02-3.91%
Waves$110.09$102.50-6.89%

Week 2 Charting

Click the images to view in detail.

CoinGuide’s Portfolio Balance week 2

CoinGuide’s Portfolio Balance week 2

Cryptocurrency - gain/loss by dollar 7th-15th Jan 2018

Cryptocurrency – gain/loss by dollar 7th-15th Jan 2018

Cryptocurrency - gain/loss by % 7th-15th Jan 2018

Cryptocurrency – gain/loss by % 7th-15th Jan 2018


Week 2 Summary

In total our portfolio dropped from $3,447 to $3,171 – which was a $276 (-8%) reduction.

If we had invested $2,500 in just Bitcoin it would be now worth: $2,562

Best performer: NEO (NEO) +$74.55 (+54.28%)

Worst performer: Lisk (LSK) -$57.98 (-29.44%)

Coin Profile – BITCOIN (BTC)

Why we picked it? Well, it’s the granddaddy of cryptocurrencies – it was first on the scene and without a doubt the world associates crypto with Bitcoin. We think despite it’s massive growth up to the end of 2017 that there is still room to go. Some are predicting $50k-$100k by the end of 2018 – we’ll see. Either way, Bitcoin’s place in cryptocurrencies is pretty solid and one of the safer bets for investments.

As long as the Lightning Network is introduced this year we should see Bitcoin fees drop, transactions quicken and it become more of a payment method than just a store of value – the fact it has a limited number of coins available makes it a good bet too.

We’ll be back next week – keep following!

Don’t forget you can catch up with all of our posts in this series by bookmarking: https://coinguide.tv/project2018

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