It’s a bear market.
Or it is since 17th November, according to (at least) one of those big market analysis sites – and it certainly looks like things are heading that way for the moment. Thankfully, Bitcoin hasn’t dropped down to the worrisome $75,000 or $70,000 level, or the FUDders’ doomspoken $60,000 (oh noes, it be the end of the worruld!). Not that it really makes a difference in the longer term, since it’ll come right back up again.
From my point of view, the continued descent (including today’s small rally) mean that my trading and banking numbers suck even more than last week. That’s because I’m holding those in crypto rather than stablecoins, as you know. Yet again, copy trading comes to the rescue and reduces my losses.
Seriously going to have to sit and think about rebalancing next week, at the next 4-week marker (yes, I know it’s 7 weeks… my dates are all over the place, as I’ve already explained).
For the moment, my equity’s flattened out. Much to my relief!
Anyway, here are this week’s details:
And the big total is still refusing to go positive! Gah!
- Trading down by another 13.93% (ouch)
- Banking down by a huge 12.39% (double ouch)
- Copy Trading up by a massive 24.28%
- Overall down by 1.27%
In my next info post, mid-week, I’ll be looking at that “banking” category: what it is, why I decided to do it, and where I’m holding the funds for nice returns. Look forward to seeing you then!
Oh, and a big thank-you to the people who comment. It’s great to share ideas, I’ve discovered a couple of cool blogs to read through (Lazyboy and Hatty) and it feels less like I’m screaming into the abyss, lol.
I saw someone on an exchange forum say that he’ll sell his truck to buy more BTC if it goes down to $60k. Would you do something drastic like that?
