DCU - Ripple back in the game (22nd Aug '17)
Market Performance (Global Market Cap):
- 24-hour gains: -1.8%
- August gains: +56.1%
- Year to date gains: +706.2%
- 24-hour gains: +0.06%
- August gains: +55.4%
- Year to date gains: +1,227.5%
You may have noticed that for the last couple of days I have included my portfolio performance, today I have added global market cap performance for transparency and comparison. You can, therefore, see that my portfolio outperformed the market over the last 24 hours, underperformed the market in August but has significantly outperformed the market this year.
My update today is going to be quite short as I have been at the beach all day with the kids and now I am taking them off to the fair. I will also have a couple of smaller updates towards the end of the week as I have to complete the epic drive back from the South of Spain to England on Thursday and Friday.
Anyway, key takings from my portfolio:
- Dash: holding strong within its new price range of $275 - $300, hoping for another wave up to consolidate over $300
- Monero: after dropping back a touch yesterday has pushed up again today and is in a range of $80 - $100, I expect another wave upwards next week when it starts trading on Bithumb
- Bitcoin: dropped under $4k but no major sell off, the trend is down, and I am looking for where it finds support:
- Bitcoin Cash: up and down like a yo-yo, no idea, just holding out long term to see where it finds stability
- NEO: still falling, looking for where it finds support before I invest again
A few others are jumping around. It feels like every day a bunch jumps up, and a bunch jumps down. I am going to see if I can start playing these moves within my trading when I get back from my holiday.
Need to talk about Ripple
I have a love/hate relationship with Ripple. I like the profits I made earlier in the year, but I think it is massively overpriced. The problem is it can always trade irrationally. I had been thinking about making another investment based purely on price speculation, but I missed the boat today as it has jumped nearly 50%.
They have been Tweeting a lot today, and the content is being shared on Reddit and Twitter, but I don't think they are telling us anything new and I still have fundamental issues with its valuation. Still, if there is a price dip by the weekend, I am likely to invest and then take a cold shower of shame.
Global Market Cap
The global market cap for crypto is showing signs of trading sideways, potentially down. It feels like every day a pump on a major coin is saving a drop, whether it is Dash, Monero or Ripple.
Anyway, sorry for the short update but I've kids to entertain.
Shout me if you have any questions.