Back in June 2021, I purchased my first batch of Theta tokens through my Uphold account. My first batch consisted of 50 tokens valued about $11.70 CAD and the total cost was $578. It had peaked previously at $15.71 USD on April 16, 2021 which equals to about $19.93 CAD. When I got in at $11.70, I thought I was enjoying a good 40% off or so from the peak and felt confident it would rise again.
Then, Theta proceeded to drop to just $3.67 USD ($4.75 CAD) by the middle of July.
Ouch! That's more than 50% down!
Undeterred, I purchased another 50 tokens on July 5 and the total cost for this batch was $372 CAD. That's more than $200 CAD less than the first batch. Cost averaging my two purchases brought the cost of my 100 tokens down to $9.50 per token.
Theta did well at the beginning of September after gaining a bit of ground through the month of August, peaking at $8.882 USD ($11.23 CAD) and for a few weeks, as a result of cost averaging, I briefly profited but at the end of September, Theta tanked again to a low of $4.926 USD ($6.23 CAD).
Theta spiked along with Bitcoin and the other cryptos at the beginning of November but it proved to be short-lived. By December 20th, Theta was down to $3.992 USD ($5.05 CAD). At present, Theta is hovering at about $3.90 USD.
During the lows of December, I unloaded my 1,200 Tron and about 120 BAT in exchange for Theta tokens. I also purchased a few during the lows of last August and now have a total of 160 Theta tokens. As a result, I managed to bring the cost average down to $8.50 CAD. Still, I am at a loss of $3.45 per token. My total investments only amount to about $1,400 CAD so I'm not losing my shirt here.
Nevertheless, I remain confident Theta will rise again. Their Thetadrop.com NFT site is gaining in popularity with Katy Perry set to launch her own NFT collection on the site in the very near future. Theta.tv is also gaining in popularity along with their streaming service. I, myself have earned a total of 2 TFuel simply by watching Theta.tv in the last month or so which can then be transferred to ThetaDrop and used to purchase NFTs. They also randomly give away free NFTs to loyal subscibers. I've earned a few myself. (See link below)
At this point, the way I see it, I lost out on both Bitcoin and Etherium. The cost is too high for me to afford even just one of either tokens so for now, I've focused on Theta. Whenever Theta drops in value again, I'll likely purchase some more at depressed prices to bring the cost average down even more.
Although Theta has suffered a setback, so have all cryptos. This game calls for some extreme patience. I do expect Theta to rise again but it's a question of when. I plan on holding on to my tokens for the long term. Who knows, one day I may be a 'Theta millionaire'. In the meantime, I'll remain patient and I invite all to check out Theta.tv by clicking my referral link below.
I've begun publishing videos on Theta.tv. I'm trying to get viewership on my Theta streaming channel. Follow or subscribe to my channel and earn TFuel for watching my videos. Here is the link to my channel. Hope to see you there. Send me a message once you're in!
Earn TFuel at Theta.tv just for watching TV and livestreams: https://www.theta.tv/invite/dqmibe
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