Everybody is a genius in a bull market... what about a bear?

By Colgate | Crypto news Snippets | 31 May 2021

As some might remember I wrote a post about an experiment I ran, highlights below

"conducted a little experiment and see how much of a genius I could be in a bull market using pretty much blind choices.

Ok so what did I do?

In Feb in the middle of what I am going to call a bull market I bought 11 cryptos for a couple of dollars each. My only requirement for them was that they had not recently appeared (to my untrained eye) to have mooned.

Ok so here is my run down


So what did this show? Well in 3 months my avg growth was 313%! If I gone with my worst pick I would have more than doubled my money in 3 months, my best pick STMX I would have increased my money by 7 fold"

Wow look at how well I did via blind luck. So I decided to look at how the same guys were going now that we are in a bear market



Ok we have losses everywhere and I have gone from doubling my investment only improving my investment by 14%... wait what's that I am still ahead? Turns out even with the pull back I am still better off than when the bull market took off.

Of my 11 crypto, only 4 have lost value, 4 have grown by over 50% and one is still 3x in value.

What also interesting was the average drawback was 50%, ranging from 70% down to 30%.

Again I am not good at crypto, I choose all these randomly, and yes we are in an uptick from the bottom bottom but I was very surprised that even in a red bloodbath I was not totally in the hole.

How do you rate this article?



Crypto news Snippets
Crypto news Snippets

I hope to pass on what I think a (hopefully) quick, interesting or important crypto news snippets. Definitely not a blog format!

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.