A Followup To The "Top 8" Crypto Strategy (I'm up over 85%!)

A little over two weeks ago, I wrote an article about the cryptocurrency strategy that I felt was the smartest. You can read the original article here: https://steemit.com/cryptocurrency/@mattw/an-easy-way-to-ride-the-cryptocurrency-wave. It includes my breakdown of the strategy and looks at some historical data, had you followed that strategy.

To be honest, I wasn't invested in that strategy at the time of writing it. I wrote it as a way to do research on the strategy. By the time I finished doing my research and writing that article, I was convinced that it was the way to go for my hard earned money.

On November 30th, I took my own advice and invested across the top 8 currencies by market cap. I had roughly $340 sitting in just Ethereum at the time and I decided to take that $340 (in USD value) and spread it across the top 8.

As I write this, it's now December 14th. It's been 14 days since plopping my money into this strategy and here are the results...

The Spreadsheet:

This is my real money as of writing this. It's not example data of what "could have" happened. This is where my personal investment stands today.

I had $340.08 worth of money to spread across 8 coins (roughly $42.51 per coin). Each coin represented 12.5% of my portfolio on day 1.

I invested in:

1. Bitcoin (BTC)
2. Ethereum (ETH)
3. Bitcoin Cash (BCH)
4. Ripple (XRP)
5. Dash (DASH)
6. Bitcoin Gold (BTG)
7. Litecoin (LTC)
8. Monero (XMR)

The spreadsheet shows how many coins (or fractions of coins) I was able to purchase of each.

As of today, every single coin is up, with Litecoin and Ripple being my big winners (Ripple literally jumped overnight since yesterday).

My initial $340.08 investment is now worth $637.66... That's an 87.5% return on investment. No too bad for exactly 2 weeks.

Obviously, this is not investment advice and there's no guarantees that it will continue to move like this. However, I personally feel pretty strongly that it's the smartest way to invest in cryptos. When some coins go up, others go down. Since starting, I've not had a single day where all coins went down or even had a day where my current value was less than my starting value.

What's Next?

My next step is that I'm considering rebalancing already. My plan was to let this ride for a minimum of a month and more likely a total of 3 months before considering a rebalance. However. I don't like the fact that any one coin accounts for over 20% of my portfolio. Between Litecoin and Ripple, that's almost half my coin portfolio at the moment. A rebalance seems in order.

To rebalance, I'm going to, once again, look at the top 8. I'm going to move my coins around until all 8 of the coins I'm invested in equal roughly 12.5% of my portfolio.

Here are the top 8 as of this writing, with "Cardano" being the only one that I don't know a ton about.

On another note, I do hold one more coin, outside of the "top 8" strategy...

Steem has been doing great lately!

(Ignore the Tether row - I was using Tether to trade as close to the dollar as possible but I own less than $0.01 worth)

I invested a total of $20 into Steem and then I created (what I think is) great content. Between my initial investment and the sweat equity that I've simply put into writing posts like this, the value of my Steem is worth over $188. It pays to create content that people enjoy.

As far as my next steps with Steem... I'm gonna let it ride and continue to write content that I think will be beneficial to others.

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