“Its like waking up from a bad dream”. One year ago to this day, I finally broke even on crypto and never looked back
As a lot of people know, I track everything in crypto religiously.
In 2018, the markets plunged and my crypto returns went from around 300% down to 0%, and then down even further. We had a slight bounce (for exactly one day, see my table below) and then my holdings plunged into the abyss, down to -85% at one point (and you thought this correction was bad?)
Perhaps this will be helpful for those new-comers who are currently in the red and wondering if this ever ends. Well the table I made below records each time I managed to break even, and how long I could remain in the green for. As you can see, things really started to get close in early 2020, then we started nuking on or around 5 March 2020, but from then on every so often I would break even for a little bit. I then broke even in May 2020, would fall down for a bit, but finally on 7 July my portfolio was in the green – and I'm happy to say, never got even remotely close to red again.
So the table shows each time I got back into the green, how long I could hold it for, and when I went back into the red again.
And looking at the numbers now, I'm fairly confident it will never be in the red again (which would require us to be well below the 200 week moving average at around 13k or so).
Using this table will also show you how long I was in the red for. I believe my portfolio went back down to $0 profit (and then negative) around the 20th of February 2018. So, excluding the short "relapses" back into profit, that gives me a total period of two years and five months of crypto carnage – fun times! But that was also two years and five months of crazy buying opportunities – funny, because in late 2017 everybody was saying this was our last chance to ever buy cheap crypto.
The trick that got me there was to keep DCAing the whole way through that brutal crypto winter, and to keep learning new tricks. For example, my defi yields have acted like a parachute through this particular drop.
Every time I broke even on the dates above, I would say to myself "It's like waking up from a bad dream" – and sure enough, those days of my holdings being in the red now feel like some kind of nightmare that was never real.
So if you are in the red, figure out how to get back in the black, DCA, do some research, and once you are back to positive figures you'll have a story for the grandkids! (and maybe even a lambo for them when they turn 21 🙂 )
submitted by /u/Cryptodragonnz