Project 2018 – Update week #3
As you know we’re running a project to hold $2,500 of cryptocurrencies for an entire year. Welcome to our third update! If you are new, check out our first post on the project.
Week 3 Introduction
This week the markets were not kind – every one of our cryptocurrencies in our portfolio took a loss. The bull run of the first week of January seems pretty distant, but perhaps after Wall Street has settled both it’s Bitcoin Futures contracts and the Chinese New Year has passed we’ll resume our bull run.
Only 5 of our cryptocurrencies are currently in profit since the start of the project.
Week 3 Data
Project 2018 - week 3
|Cryptocurrency||Jan 15th Value||Jan 22nd Value||Gain / Loss %|
Week 3 Charting
Click the images to view in detail.
Week 3 Summary
In total our portfolio dropped from $3,171 to $2,177 – which was a $993 (-31.3%) reduction.
If we had invested $2,500 in just Bitcoin it would be now worth: $1,977
Best performer: Bitcoin (BTC) -$23.37 (-22.80%)
Worst performer: Digibyte (DGB) -$57.57 (-43.33%)
Coin Profile – BITCOIN CASH (BCH)
Why we picked it? Well, despite it splitting the crypto-community literally in half – we are looking at this portfolio on the basis of making a return on our investment, not the technicalities of each coin.
Like it or not, Bitcoin Cash is currently here to stay – with a prominent listing on Coinbase, new users signing up to buy their first cryptocurrency are confronted by something that appears to be the same “brand” as Bitcoin, but only a fifth of the price – with little knowledge, users are buying it. Additionally, Bitcoin Cash has an active marketing team behind it – educating new users of the benefits it provides. The arguments for/against Bitcoin Cash are huge, and we’ll be doing an article to cover it soon – we know there are plenty of coins out there that have the same or better technicals – but purely on an investment basis, Bitcoin Cash is one of the safer bets, currently.
We’ll be back next week – keep following! (Sign up to our weekly newsletter in the header!)
Don’t forget you can catch up with all of our posts in this series by bookmarking: https://coinguide.tv/project2018