Tub of Coins 02 | Market update 1/14/2018
Hey Tub Nation!
If you haven’t read it yet, you may want to first read the first post in my new crypto blog series “Tub of Coins”:
You can see below that the majority of the market is in the red. With only Neo being up in the top 10 cryptos.
This kind of up and down, with very little upward mobility, has been fairly normal as of late. I see this kind of pattern continuing.
EOS is no longer in the top 10 cryptos, by market cap
I mentioned in my last post that I own all top 10 cryptos with the exception of EOS, and as you can see, EOS has dropped from the top 10 (currently ranked 11, by market cap).
This doesn’t mean EOS will go down from here. I just am not sold on EOS relative to the others.
Neo is up, a lot
I mentioned how I liked Neo, Cardano, and Icon over Ethereum in my last post. Because these 3 are alternative smart contract platforms, similar to Ethereum.
Out of the 3 I like Neo the most. I will continue to hold onto all 3 as long-term holdings.
I guess there’s a reason why Neo is being referred to as “THE ONE.”
I cashed in on a huge chunk of my Ethereum holdings
I’ve drastically cut my holdings in Ethereum in the past couple of weeks because I’m starting to see that the platform has a lot of holes that makes it very hackable.
I mentioned this in my last post.
This doesn’t mean I will completely liquidate my ETH holdings because I still believe in holding the top 10 cryptos, by market cap, is the safest way to go.
Made 4x my investment in Ethereum
Even though I’ve sold most of my ETH, I bought most of my ETH in late October 2017, so I’ve more than quadrupled my money in less than 3 months.
As you can see below:
But again, I will continue to still hold some ETH strictly due to the fact that it’s still #2 by market cap.
Don’t have any Crypto? Start today by using my referral links
I primarily use Coinbase and Binance.
If you use my coinbase referral link and buy $100 worth of crypto, you will get $10 in free bitcoin (and so will I, so it’s a win-win!). Same with Binance, it’s a referral link so I will get compensated for it. But please know that I’m not recommending these two for that reason. I would recommend them regardless of that because I personally use both of them. That said, like every person on this earth, I won’t refuse money because that would be foolish. Just being honest to be fair to you.
Get set up on Coinbase
Get set up on Binance
Coinbase is the most user friendly and so is the best for beginners just starting off on crypto investing.
Binance is the best for trading altcoins like Neo.
Sum up (tl;dr)
- Market is in the red; may continue to languish with continuing gyration of miniature up and down cycles
- I am not a huge fan of EOS; it’s the only top crypto that I don’t own
- Like I mentioned in my last post, I like NEO; and it happens to be one of the only coins up by quite a bit (20% today)
- I sold a huge chuck of my ETH (ethereum); so I’ve made 4x my initial investment from back in late October 2017 (so less than 3 months ago)
- Please remember to sign up to both Coinbase and Binance using my referral links above if you like and want to support this new cryptocurrency blog series, thanks guys!
How do you feel about where the market’s been as of late? Have you sold any yet or are you a buyer in this market? Which coins are you the most bullish on from the top 10, by market cap?