The $10,000 Experiment Revisited
The bear market is still in control
Hard to believe it’s August.
Well, it is tomorrow.
I figured we might as well check in on the $10,000 Experiment, an ongoing look at a basket of (faux) cryptos invested in the market. If you’ll remember, I divided the money like this:
$2,500 to Bitcoin ($BTC) at $46,498.52
$500 to Cardano ($ADA) at $1.33
$500 to Polygon ($MATIC) at $2.46
$3,000 to Ethereum ($ETH) at $3,822.78
$1500 to Algorand ($ALGO) at $1.73
$1,000 to Solana ($SOL) at $170.73
$1,000 to Polkadot (Dot) at $29.89
So where are we now?
Still down, and significantly.
Bitcoin ($BTC) trades at about $23,500
Cardano ($ADA) trades at around $.53
Polygon ($MATIC) trades at around $.95
Ethereum ($ETH) trades at around $1,700
Algorand ($ALGO) trades at around $.35
Solana ($SOL trades at around $44.32
Polkadot ($DOT) trades at around $8.29
As you can see—the adage about altcoins remains in tact. During market declines, altcoins sell off the most because they are much more speculative than Bitcoin itself.
And yes, the numbers look awful. But that was to be expected. We’ll see where this shakes out in December, when we take one more look.
Where do you think the investments will be? Up or down?
The Crypto Connection is for entertainment purposes only and is not meant to be financial advice. Please do your own research before investing in any asset class. Sara Celi is not a financial advisor, and holds several cryptocurrencies. To purchase her books on Amazon, please click here.