Monthly Crypto Portfolio Update (Nov 2019)

We are quickly approaching year end and despite the year still being overall good from a returns perspective in the crypto markets, not all assets are enjoying the benefit of the trend. The market continues to focus on a small number of projects and rewards them with some good performance. I do not expect the trend to change as the amount of projects that will fail will continue to grow. However, I think that it will provide a good opportunity for asset s to consolidate and focus on those that will adopt better and develop the potential of Blockchain technology.

Source

The total market capitalization of the market fell last month from $247 billion to $202 billion which represents almost 20%. Bitcoin continues to lead the market with a similar drop of over 20%. The dominance of bitcoin remainied stable from 67% to 66% which I feel is not a good sign for Altcoins as they continue to lose ground in value despite being the center of development in the technology. However, I continue to believe that a handful of them will survivor and not only prosper but also disrupt many areas of the economy. This is where the opportunities are and we need to keep an eye on developments to take advantage when markets move once again as it will certainly be limited to those projects that can create value and adopt the technology the best.

Given my view, I intend to continue allocating resources into cryptocurrency asset to accumulate in those I believe will survive. However, this was the month that I least allocated capital into the portfolio given some restraints on my disposable assets. It also had to do with the investment made into the Splinterlands Kickstarter which absorbed more than I had allocated for the rest of the year. Therefore, until I figure out how to allocate more capital, the investments will probably be more limited in the coming months.

Unfortunately, this includes Steem which continues to be below my goal for the year despite acquiring more than enough to reach it but used the liquidity for my Splinterlands Collection. I cannot complain as it has provided me an attractive return which would have been difficult to achieve elsewhere, including bitcoin according to my calculations. However, my focus on the Steem portfolio continues to be accumulating and generating income in the process so I still don’t measure the position the same way as the rest of the portfolio here.

I am glad that I have continued to purchase DAI as the upgrades made to their project truly provides insight to what the potential on Cryptocurrencies and Blockchain have to the Decentralized Finance (DeFi) movement! It was the only investment this month but I look forward to adding some more positions as prices remain attractive. In fact, I almost could not resist some prices when bitcoin fell below $7k before recovering. That is why it is important to have some available capital to deploy at any moment which will be my focus in the short term.

The year has been good so far despite the sentiment we are currently seeing. Volumes, adoption and technology is increasing which is a positive indication for the space in the long term. I believe that disruption is inevitable so preparing ourselves today could have great benefits. It may not be a way to secure our retirement but learning to navigate the disruption will also provide opportunities for participants.

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