A whole bunch of alt punts
After the Ethereum pump this week I decided to take some profit off the table and liquidate a % of my holding to place some punts on some small coins.
I have spent the day running through some of the much smaller coins on Coin Market Cap to see if there are any I fancy and have taken out positions in 20 of them.
I know this is a large number but the total investment is £250 per coin, thus a £5k punt. The way I figure it is that even if they all crash 50% my max loss is £2,500, yet I only need one of these to hit +1,000% to cover this.
+1,000% is clearly a significant jump, but if you look at the seven-day movements on Coin Market Cap, you will see this is achievable with some coins in a small amount of time.
So this kind of investment is a calculated risk. As we can see across the market, any coin with the right tech, team and business fundamentals can grow exponentially.
My new investments are as follows:
- First Blood
If any should start to make a significant move, then it will be a signal for me to increase my research and then my position if I feel that this is a coin worth pursuing.
Any questions, then please give me a shout.