Another month has passed, okay a few hours left, but in some countries we are already writing July. Not actually looking forward to posting this update and you all probably know why. Another month were the value of the portfolio went south. In contrast to last month, were I also sold some coins, this purely has to do with the market.
It is the third consecutive month that the value of the portfolio decreased. And the ' month this year. On the positive side, it is still the double as the same time last year. So it could be worse and can become worse. Time will tell.
Hive had a little pump last days and this pump was good enough for it to be the leader of my portfolio with a share of 28%. At the moment of writing this is the only coin in my portfolio which is green compared to a month ago.
BTC did loose 37.66%, ETH an astonishing 46%. And it is still too early to say that we did hit rock bottom.
But I did try to strengthen some coins in my portfolio. I was able to add 7% more Hive; which reflects to 499 Hive. So my target of 10K HP is still in reach. Also added more BFG, trying to get some passive income in the upcoming months. Would be great if I can double my BFG holdings in the next month.
We all know that better times are around the corner; but nobody knows how far that corner is from us. We could face it this month or maybe even next year. Still a great accumulation phase at the moment, but I won't advise anyone to invest fiat money in the market at the moment, which of course doesn't help the market.
It is the sam vicious circle like with inflation. When inflation does hit us, we tend to stop spending money, causing a bigger inflation of forcing companies with decrease production; aka lay off people. Strange thing but the best thing people can do when inflation does hit us is spending to get it behind us as soon as possible, but the natural reflex is to save more money!
Cheers,
Peter