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

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

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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

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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.

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