Hi, my name is Olena, and this is my diary of investing in cryptocurrencies. In 2022, I quit smoking and started investing in cryptocurrencies with the money I spent on buying cigarettes. You may see the results of my investments if you go to Crypto-currency Investment Diary 2022 and click on Google Charts link.
๐ With the SEC regulator coming into the crypto market, I decided not to buy cryptocurrencies blindly and not to chase X's. But to invest only in projects which in my opinion will survive the regulation and will be on the market for the next five years. You can see the results of these investments by clicking on the link at the bottom of the page๐.
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Cryptocurrency purchases for the month of January and February
The coins I bought on 16 February 2023 are fundamental. I don't expect them to yield huge profits in the next year or two.
A brief analysis โจ๏ธ ICP - December 29, the price broke the downtrend line, which was formed in September 2021 (throughout the bear market, the downtrend line was a strong resistance). The price went beyond the level of 4.50$, and continued rising, to the key resistance level of 6.30$. Having rebounded from the key resistance level, the price headed to the support level ($5), followed by a rise to $6 as I expected, where I started buying the cryptocurrency with the aim of selling above the $15 range. FIL | FLOW and KSM were bought on the same principle, and with such targets (short-term speculation). ATOM and DOT bought for the long term. A short video overview of buying and charts of cryptocurrencies, can be seen in the video:
Additional cryptocurrency purchases
Today I decided to buy some more coins, I take money for the purchase from the realized profit of Litecoin sale. This purchase is purely experimental!!!
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In the chart on the left hand side, the Bitcoin Market Caritalisation (B.M.C.) is shown. The two red arrows point to the candle of the FTX dump that occurred on 7 November 2022. The green arrow points to the candle that absorbed the FTX dump crash on 9 January, thereby bringing B.M.C. back to its November value of $400 billion. Having broken through that resistance level, the B.M.C. headed to the next resistance level, which is located at the value of 460 m.d., where the correction I expected (pullback and then rally) followed. Everything is as in the technical analysis.
On the right side is TOTAL-3 (market capitalisation of the most altcoins, excluding Bitcoin i Ethereum). If we compare these two market capitalisations, we see a conditional divergence in the market capitalisation structure. The reason for this is that all new money that comes into the market first goes into Bitcoin. And only after Bitcoin passes about 80% of its trend, does the money from Bitcoin overflow into Altcoin.
Right now, Altcoin's Market Capitalisation (TOTAL-3) lags behind Bitcoin's Market Capitalisation, by about -16%. But they will level off soon.
But there are coins that are very far behind TOTAL-3, which is what I will be buying today. These are liquid coins and are in the top 100 in terms of market capitalisation. Let's see what comes out of this:
๐ SEE INVESTMENT TABLE ๐THERE ๐ย
