How'd you like that Merry Cryptmas Present?

Remember my 25th December post?

For full disclosure, I hold a shit ton of it (DGD). Like, a lot. A lot. Alot. My biggest holding, more than BTC, more than ETH.

I explained my DGD thesis in my Crypto Portfolio for 2018 post.

I made fun of people who kept telling me that DGD is too expensive to buy at $180.

I also talked about a "truer" digital gold in early Nov as well.


So boom, $320 USD or 100% gains in 39 days.

And this is during a period where the rest of the market is tanking 40-80%. (Tron, Verge, Ripple, LOL)

And of course I didn't buy in at $160 either. I bought in much much lower.

Yes, please again tell me how crypto is purely speculative.
That it is random.
That it is gambling.
That I'm just really lucky.


I guess that was just a lucky guess, hur?

Anyway, SPEAKING OUTLOUD TO MYSELF, if I was a trader I would consider closing my position now. If I believe in the project and it's potential, I would continue holding.

I believe that I fall into the latter category.

Oh by the way, all that news about Bitcoin crashing? GMGH don't care. It doesn't affect me much. Like I said, I don't own much Bitcoin.

Edit: Updated at 3pm to add in some nice charts lol.



Lel.

Comments

Post a Comment

Popular posts from this blog

The HERD is coming into Crypto!!!

Image
Bought crypto in 2017? Congrats fellow crypto OG on being a verified early adopter. THARMS UP MAN. Buying crypto in 2018? HERD SHEEP FOMO NOOB, get rekt beech! Proof of herd? This . The herd is coming in and buying everything with a face value of under $10, especially things below $1. Madness. Who cares about circulating supply or market cap? Price is the most important thing, right? The next time someone says that the "price is cheap, so it's a better buy", I'm going to shit myself instantly on the spot. I cannot tell you the number of times people told me that they can't buy a crypto because "it's so expensive". *COUGH COUGH COUGH DGD COUGH COUGH COUGH* Anyway, we already knew that this would happen. Just a PSA and FYI, the herd is already here, and half of them are STILL stuck at registration and verification at exchanges. I know someone that has already been waiting 2.5 weeks to be verified. And that was before the alt-coin FOMO boomz and we are...
Read more

46% of 2017 ICOs have already failed, Yours is next

Interesting piece for your reading consumption. I'd say the #1 misconception now by intermediate crypto players is the thinking that you "need to do more ICOs to juice up your returns, especially in a sideways / bear market". Meh. Won't say I fully disagree, but I don't think that is very accurate, or else I would be doing that strategy as well. However, I must say that crypto ICOs are extremely skewed with risk and rewards. For some people, going for obscure ICOs and hunting down low cap cryptos - AFTER FILTERING AND ANALYSIS - can prove to be an extremely profitable strategy. Then again, this strategy only works with limited value since you don't want to end up being the only person driving up the price and volume. How can you exit a huge position if the daily trading volume is less than your holdings? ^ This is something that A LOT of people just don't understand. Market freaking depth. Just because the price is $X, that does not mean that you can sell...
Read more

Value Investing Case Study: Does it apply to Crypto?

Image
For some reason, I managed to stumble upon this article by Dr Wealth that was written back in Feb 2018 regarding his LTC trade . Simple TLDR is that the NAV was $1.63, but was trading at $0.60. Dr Wealth had quite high confidence in the integrity of the underlying assets, since they were largely in (1) investment properties that are yielding good rental, (2) fixed deposits and (3) cash and bank balances. These kind of assets do not need to be marked down deeply when considering their salvage value. 7 months later, buyout offer with a 54% return from entry. Fantastic trade. This reminded me very much of my Saizen REIT trade which saw me realize a total gain (dividends + gain) of 40.4% over about 1.5 years . I consider it as one of my early masterpieces because of just how sure I was that all the evidence is pointing towards good future gains. Yes, I had strong evidence . Now, buying assets at a discount to NAV is a pretty good strategy if it satisfies some criteria: 1) there should be e...
Read more