Trading Update - Preparing for the Hard Fork

With the hard fork coming and the altcoin market continuing to struggle against the Bitcoin rally, I decided to exit the majority of my altcoins last week.

Almost every altcoin position I have opened in the last two months was in the red, and a number of my best long-term positions had lost value. 

Altcoins are where I have made the majority of my profits this year. Good/lucky investments in Ethereum, Dash, Ripple, Bitshares to name a few have delivered +1,000% returns, and I, like others, continue to look for these Bitcoin beating positions. The reality is that there have been very few since the end of June as the altcoin market has become hard to trade, why? Well, there are a number of potential reasons:

  1. Natural market cycles
  2. Bitcoin dominance changing
  3. Hard forks and the myth of free coins diverting money into BTC
  4. Larger investors focusing on BTC changing the attractiveness of it

Whatever the reason, the altcoin market is not a place to be until after the hard fork, at which point it might be the time to invest, though there are no guarantees.

My gut feeling is that BTC is coming to the end of a market cycle with the Segwit2x hard fork and itself could drop, correct or move sideways giving Alts a chance to enter a new market cycle. Be warned though, any significant drop in the value of BTC could bring the whole market down.

In terms of my portfolio I am now 83% Bitcoin, 13% cash and a few other investments:

  • Komodo, my only investment which has stood up against the alt market crash
  • MAID, mainly because the bag is small and releasing it from Omni Wallet is a pain
  • ETC, very small bag 
  • OMG, very small bag

I’ll be entering the alt market again on Nov 14th/15th, prior to the hard fork and I’ll share the investments I’ll be making before.

Here is a breakdown of my closed trades:

  • Dash (1):  +1,265.7%
  • Dash (2):  +1,251.6%
  • Dash (3):  +1,077.8%
  • Dash (4):  +1,086.3%
  • Dash (5):  +1,088.7%
  • Dash (6):  +940.7%
  • Ethereum (1):  +2,461%
  • Ethereum (2):  +2,422%
  • Ethereum (3):  +2,595%
  • Ethereum (4):  +2,594.4%
  • Ethereum (5):  +2,467.7%
  • Litecoin (1):  +1,156%
  • Litecoin (2):  +228.4%
  • Litecoin (3):  -4.2%
  • Zcoin (1):  +13.4%
  • Zcoin (2):  +3.9%
  • Verge:  -4.5%
  • Swarm City:  -35.8%
  • oX:  -32%
  • Blocknet:  -25%
  • Edgeless:  -25.6%
  • BAT:  -38.8%
  • Augur:  -13.5%
  • Factum (1):  +215.9%
  • Factum (2):  +215.1%
  • Factum (3):  +38%
  • Factum (4):  -56.6%
  • Factum (5):  -35.9%
  • Syscoin:  +12.4%
  • Iconomi:  -69.4%