DCU - An Incredible August (31st Aug '17)

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The latest update covers the last 48 hours. I will try to get back to a daily update again through September, you know, seeing as it is called a Daily Update.

Market Performance (Global Market Cap):

  • 72-hour gains: +4.5%
  • August gains: +86.8%
  • Year to date gains: +875.1%

Portfolio Performance:

  • 72-hour gains: +3.5%
  • August gains: +91.6%
  • Year to date gains: +1,536.3%

As August has come to an end, I am pleased with the performance of my portfolio having beat the market; this is especially pleasing as I didn't trade much and missed out on some good investment opportunities like OmiseGo.

Global Market Cap

The GMC set new highs again today, tipping over $173bn, this is up from $91.5bn at the start of the month and $17.7bn at the beginning of the year. The growth in the market this year is insane, we're up 875%, and while I keep expecting a correction like the one at the end of June/July it just isn't happening, and there aren't even any signals it will.

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In the build up to the last correction we saw +20% market dips but this just isn't happening at the moment, and this could be down to many factors:

  • Increasing market confidence
  • Growing market maturity
  • A wider spread of Crypto ownership

It isn't possible to predict where we will go from here. The market could continue its march towards $250bn and maybe beyond. My strategy is to stay close to the markets and react where necessary, ensuring that I keep to my strategy of making solid investments and taking money off the table.

Tier 1 Investments

The following is a quick update on each of my tier 1 investment coins; all projections are subject to there being no market correction.

  • Bitcoin: another ATH today, rising above $4,730 and currently holding above $4,700. The $5k breach is looking more and more likely, though there may be a sell off at between $4.8k and $4.9k,
  • Bitcoin Cash: keeping in range between $550 and $590, I am waiting for it to find its market price and see where it goes from there.
  • Ethereum: is holding above $380 and will likely set a new ATH in the next week. It will be interesting to see how the market reacts; my expectation is we may quickly get to $500 if there is no immediate sell-off.
  • Dash: making steady gains after retracing back to $350. Currently sitting at $379 and I expect it to take and hold above $400 quite soon, and I also expect it might trade sideways for a while after. If Bitcoin and Ethereum hit their markers, then attention will likely be drawn away.
  • Litecoin: great week for Litecoin and Charlie Lee. I didn't think Litecoin would do too much since Bitcoin scaling issues were solved but it continues to innovate. Charlie released his Vision For SegWit And Lightning Networks On Litecoin And Bitcoin, and the price is now holding above $70. I think we will hit another wave up quite soon and could quickly challenge the $100 price point. 
  • Monero: continues to show strength and is now above $140. I think we will have another wave up and I feel the Monero will continue to find new investors. I do believe this will be a +$10bn market cap coin within the next 2-3 years.
  • NEO: is still in a downtrend and I think we will see the price test support at $30 again. If it holds it may be a chance to reinvest.
  • Iconomi: continues to trade sideways but is holding above $2. I will be making a new investment in Iconomi soon as I think it will see a wave up soon.

Other Investments

There are so many coins we can talk about; there are so many coins performing well in the current bull run, I'll pick out a few stand out coins:

  • Basic Attention Token: is nearly back in profit for me. I bought a hefty position at the peak, and it dropped 65%. I am now within 12% of my entry point. There is a constant stream of good news with this project, and I am feeling confident that this will be a +$1bn market cap coin next year.
  • BlockNet: one my best-performing investments having grown 350% in the 62 days I have owned it. 
  • Waves: up +790% for the year for me, a great performing asset. 
  • Lisk: continues to make significant gains and my position is up over +1,500%.
  • Verge: a huge week for this anonymous Cryptocurrency, jumping over +175%.

Anyway, great month, I hope you all made good money, shout me if you have any questions.