Exited all my crypto holdings gradually over the past month or two. I was lucky enough to be able to sell quite big chunks in early January. Some of these are up over 10X but they were only ever a very small portfolio weight.
There is too much froth / junk / fraud in the market and I dont see downwards trend reversing any time soon. I think there needs to be a big clear out before we can get decent rises.
Continue reading “More Crypto – sold KR1 / direct holdings, shorting Tether” →
Brief post sold half my Kryptonite 1, for a modest 156% gain. I say modest as pretty much every crypto related co or asset has outperformed KR1 since I got in.
I am not happy with their continual sub-share price placements – good for their connected friends and management but not other shareholders such as myself. This, however is an irritant / contributory factor rather than the reason I am selling. I also looked at the polkadot investment that others seem to rate so highly and to me they have invested £1m in something with no clear way to get the money back. It could be that I dont understand it, or that I do – and it wont make money. It equally could be that it wont make money and will go up anyway – in a market like this it wouldn’t surprise me.
Continue reading “Kryptonite 1 – selling half, +156% & Other Crypto thoughts” →
Got shaken out of my KR1 position by large falls in Krypto prices coupled with news China were restricting Crypto.
Bought back a 2.4% portfolio weight first thing this morning – this is nicely up already. Not the smartest way to trade – going in and out of stuff like this at a 20% spread just makes market makers rich, even if you are trading profitably…
Continue reading “KR1 – Kryptonite 1 Good results re-entering” →