January 2020 recap - Steady growth
Again a month has passed. Let me show you how my portfolio did.
Market update
The total market cap of cryptocurrencies went up from 191 bn to 259 bn. Bitcoin dominance was down, from 68.2% to 65.2%.
Looking at the prices of the individual currencies, Bitcoin went up from $7,100 to $9,300 this month. The price of Ethereum also went up, from $130 to $189.
Current Portfolio
Again I didn't invest more money in Bitcoin and Ethereum. My overall portfolio value is now about €680 higher than one month ago. My portfolio shifted a bit more towards ETH. My personal BTC "dominance" is now at 73% (from 75%).
In total I have invested €2,600 in Ethereum and Bitcoin, so I'm at an overall profit again.
I managed to increase my Steem Power holdings the last month from 2,242 to 2,279 SP.
Will we see more upward price action this month? Or are we going down again? We'll see it in the coming recaps.
Posted via Steemleo
Congrats with the profit. I am still far away from that point!
Cheers,
Peter
Thanks! If the current momentum goes on for the rest of the year, I'm sure you will be back in black again too.
Cheers!
Posted using Partiko Android
Hi @erikklok
I was wondering if you perhaps could share your view on impact of all Quantitive easings and pumping money into REPO market on crypto market?
Cheers
Piotr
Hi @crypto.piotr,
I'm not a financial expert, so anything I say should be taken with a huge grain of salt.
In general the QE and REPO stimulation has created a giant bubble in stocks and a huge reduction of interest rates. Both can have an (indirect) effect on the crypto market. When the bubble bursts, part of the money might (I say might, not will) flow to the crypto market. The low interest might lead more people that have savings to invest in the crypto market (now and in the future). Still it might also be that a lot of the "cheap" money is already invested in the crypto market and that it will fall as hard (or even harder) as the regular stocks during the next crisis. A crisis I expect in the very near future by the way.
Cheers!
It's me again @erikklok
I just realized that I never actually thanked you for your comment. Big thx.
ps.
I would need to ask you for little favour. Recently I've decided to join small contest called "Community of the week" and I desribed our project.hope hive/community. Would you mind helping me out and RESTEEM this post - just to get some extra exposure? Your valuable comment would be also appreciated.
Link to my post: on steemit or on steempeak
Thanks :)
Yours, Piotr
Of course, no problem!
Cheers,
Erik