Cryptocurrency is SOARING
I don’t talk much about Cryptocurrency here on this “channel,” but I’m an avid investor in Ethereum, Stellar Lumens, and Cardano. Personally, I’m more interested in the Defi aspect of things.
These past two weeks has show some INCREDIBLE gains in the crypto market. Some alt coins are going up over 40% over the last month.
First, let’s take a look at Ethereum. Ethereum just so happens to be my largest allocation in the cryptocurrency market. It’s up a whopping 36% in this past month. It is up 256% in the last year. My purchase prices are from $245-350. To think I had some I bought around $100 and sold…..ouch! There are some things happening in the ETH space with staking and it will be interesting to see if they meet their targets here.
Next, let us look at Bitcoin. Up over 43% in one month. Up 152% in the last year. Bitcoin eyes taking out a new ALL TIME HIGH. Unfortunately, I no longer own any Bitcoin. To think I bought it around $6500-7000 and sold for a nice gain….if I had only held :). I must say, I’m no longer a huge fan of BTC, despite the recent surge of institutional buying and companies like Paypal/Square adding it to their books.
One of my favorite cryptocurrency plays is Cardano (ADA). It is up over 27% in the past week. ADA is up 257% in one year. I think Cardano is going to be a slow but steady mover. I’m dying to see some price appreciation as my purchase prices have been .10-.14. It is the laggard of my cryptocurrency portfolio but the one that I remain the most bullish on.
Lastly, we have Stellar Lumens, up almost 26% in a week. Stellar is my smallest position, but man it made a HUGE move this week. It’s desperately needing some capital appreciation. Up 72% over the last year but seriously off from it’s all time high. My entry points are .10-.11, so I’m in the red with Lumens. However, the more I research Lumens the more bullish I become, despite it going nowhere for some time.
Overall I will just say I think 2021 is going to be a great year for cryptocurrency. I’m anxious to see the developments with Ethereum and Cardano the most. I think Bitcoin price will continue to be driven up by instutional investing for some time; however, I fear it could simply crash again. My main worry is that will take down my “alt coins.”
My timeline with Crypto investing is years. Only recently have I logged back into my accounts. I will literally go months without looking at them and then when the action heats up, I’ll watch them again.