Crypto-Tuesday: A shitty week for our AltCoins

bastianwehe (43)in #cryptocurrency • 7 years ago (edited)

January is coming to an end and it's time for the second overview of our crypto-vacation-fund. During the last week we played it slow didn't make any trades. As you know, January is the time where yearly fees for insurance, gym etc. needs to be paid and new cash for crypto buyins is rare. So we just watched the market go mainly sideways.

The key currencies

When looking into crypto currencies, Bitcoin is the key currency. All others are refering to it and value is most of the time measured in Satoshi. The first crpyto which breaks this law seems to be Etherium. You find more and more trade-pairings with it on the exchanges and due to the ERC20 tokens, they build a ecosystem on it's own.

As you can see, it's not decided yet if Bitcoins correction is over. It was quite volatile this week with another dip 4 hours ago. ETH managed to catch up on Bitcoin and standing as an undisputed number two.

The good news is, that ETH is the biggest asset in out portfolio. But what about the other coins?

ETN had a really bad week and had a decline from 1,141 to 780 Satoshi (-31%)
PAY is basically where it was last week with a 9% spike on Saturday, but lost it all during the last 2 days.
ADA is the same - it had a 18% spike on Thursday and is on a steady decline until then (-1%).
LTC had a poor week but gained back all losses during the weekend.
PBL had another really bad week (-38%). But beeing on just 2 exchanges and in extremely early stages, this is nothing to worry about.
XRP is still in decline, too (-8%).
ETH is, compared to BTC up by 19% and therefore as the biggest asset pushing the value of our portfolio.

As you can see, ETH is now one third of our portfolio. To be honest, it was a shitty week for our AltCoins. The good performance of ETH couldn't save our week. The portfolio value is down from 1,460$ to 1,358$ (-7%).

Publica (PBL) - the ugly duckling of the portfolio

PBL is probably the least known asset in the portfolio. Publica.io a new project which wants to provide a platform to authors where they can self-publish and sell books on the Etherium blockchain. PBL will be the currency to purchase the right to read those eBooks. It's in a very early stage right now and they plan to deliver a reader app-wallet in march and start publishing the first books end of 2018.