So from late March 2021 until today, I speculated long on various crypto. In truth, my trades relied upon a very naive algorithm.
BTC is shown as the reference in the charts below since it has the biggest market cap. When starting with crypto, BTC was one of my first buys. I bought near the peak and sold it only days after the peak around 15-April-2021.
Being quite familiar how organized markets work with leverage, signals flashed to me that a crash in BTC was coming and it did.
What I Owned Mostly
At one point, I had exited ETH altogether. ETH, and not BTC, was my gold standard. The design of my naive algorithm aimed to beat ETH.
AVAX was another horse that I caught at the right time. While I exited too soon, it paid off.
I rode SOL until the network suffered a glitch. That scared me from it.
Some Flirtations
All of these I owned in quite short term trades at one time or another, always trading away from ETH. Some paid off. Some did not. The losses were cut quickly.
Review
Much of the crypto world is hype-filled. There seem to be no viable crypto-currencies for small purchase retail transactions. The crypto-tokens of some smart blockchains likely will survive a shake out. All should expect a shake out during the upcoming economic depression that institutions and establishment media will label as a recession.
The smart blockchains of SOL, AVAX and ETH all seem likely to succeed as does MATIC.
The inflation of 2021 and the recent crisis in Ukraine continue to prove that Bitcoin is not so-called digital gold and hence not a good hedge against inflation.
You might enjoy my recent work: Bitcoin (BTC) is Massively Over-Priced in 2022. BTC Still is Not Digital Gold. Where is the Ukraine-Russia War Premium? The Speculation Range for Bitcoin.
Disclosure
As of this writing, I have very small positions in ETH and Fetch.ai.
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