As discussed with several directors, we are not going to overload you with daily movements because the sands are shifting faster every day and that most of you simply don’t have the time to act on the opportunities. Of course, we will always try to be available to personally discuss any investment matters that our members may have to deal with when needed.
Yesterday’s share market movements highlights the concerns we have and our reluctance to invest at a time when the risks are higher than usual (we can provide these upon request but we think providing the latest update is always the most practical). Again, it’s difficult to identify shares with good value in the short term as, for example, ALG was at first quite profitable in the first week and then has fallen into loss. This is to be expected, so we still have high cash levels to patiently wait for the opportunities which will eventually occur.
We have now finally started to open positions with cryptocurrencies after much thought and deliberation. The predominant theme now is “the trend is our friend” when we look at both Etherium (ETH) and Etherium Classis (ETC). Bitcoin, as the orignial and most widely known, is perhaps slowly losing its place to more “clever” cryptocurrencies. Our total deposit was $20,000 and our total account balance is $21,815 (up $1,815). So we have at least made enough gains here to offset the share losses for now. Hopefully, we will see both the shares and Cryptos rise further and our combined returns produce respectable results in the years ahead but I am also mindful of what’s happening with the potential rising interest rates and people initially selling shares now because they are worried that the economies may already be overheating – especially the residential property markets.
I first bought ETH when it was only $234 each unit but sold them because of impossible ATO regulations (and that’s now cost me tens of thousands of dollars). I also hesitated far too long to get my own personal holdings until a few months ago and tried to see if there would be some corrections which still has not happened. That’s because this decentralised finance (De-fi) evolution is only gathering pace and does appear to have the potential to finally gain the acceptance by the wider community over the next year or two. The following chart highlights the market capitalisation of the cryptocurrencies which is steadily rising as more people buy them. The ETC was relaunched (from nothing) after ETH was automatically upgraded (i.e. with enhancements and bug fixes). So it has been one of the fastest rises and helped our returns (as much as 44% in 24 hrs) but who knows how many will buy this in future? Although ETC’s relatively small market cap is only $21 billion compared to Bitcoin (BTC) at about $1.4 trillion and ETH with $520 billion. There’s no guarantee with anything but theoretically each one of these cryptocurrencies could double again if more people decide to move their idle cash (estimated around $10 Trillion in the USA alone) into these to protect their wealth and save for the future. If anyone wanted to buy cryptocurrencies, here’s our referral link to get you started but please do your own research to make sure you understand what they are.
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Articles on Cryptos gaining widespread appeal
