We’re on a mission with the 2022 Growth Portfolio. We’re just not yet sure what that mission is.
When we jumped into the fray with our own mix of ten tokens to potentially invest in — and of course you should DO YOUR OWN RESEARCH — the thought was as follows: get a basket of tokens and ride out the 2022 market with it.
Up? Down? Sideways? Stalwarts like Bitcoin and Ethereum? Up-and-comers in Web3 like $ENS and $MAGIC? Yes.
So maybe the mission depends on the markets; a basket like this can help you ride the ups and downs.
And, So Far This Year, Lots of ‘Downs’
So we’re taking one on the chin so far.
That, my friends, is an understatement. Bitcoin’s doing fine when compared to the others — but still down nearly 20 percent — and Ethereum has been down and then a little back up but still down in 2022. To wit:
No time to do any touchdown dances or victory laps: this is not good performance. What gives?
We Don’t Know Why. Time to Catch the Falling Knife?
This is the question I get pretty often: have we hit bottom, or is it time to catch the falling knife? And, from the school of “IDK, DYOR,” I can posit a guess or two but invite you to study this on your own.
Guess One: Global Unease Equals Meh Performance
If I see one more post about “this is the time for Bitcoin” using the context of global geopolitical events as proof that this is the time for Bitcoin, I’ll scream.
However, you *could* guess that people in places like Canada who have had their bank accounts frozen might see a little truth to that. If you can’t even get money out of your bank then, well, this may be the time for Bitcoin.
(Also, if governments don’t understand how these things work, they may only choose to regulate them further. Will that push any and all coins into an oblivion? Will that lead to a black market for all things? Will that drive everything higher?)
Guess Two: Is There TOO Much Crypto Noise?
Is it possible that the ads from Larry David and Lebron James have rendered some of us inured to the noise around the subject? I mean, not the OGs like you and me, natch, but the rest of the world.
Nobody really knows what constitutes a good deal these days, so the newbies jumping in might not care if Bitcoin is $35K or $25K. And so on: for assets without earnings seasons and dividend payments, you’re flying blind.
Celebrating Our Only Good Pick So Far…
“Even a blind squirrel finds a nut every once in a while.”
We got lucky with $MAGIC. Somehow, at treasure.lol — that’s the web address! — they’re building a pretty cool…ah…uh…whatever they’re building. But trust us, it’s at the intersection of NFTs and gaming and crypto writ large, so we’re there for it.
We had mentioned it a couple times before on these pages, most recently in this post: How to Spend $1000. And we’ll ride this for as long as is feasible.
Today’s Takeaway…
We have mentioned this is not investment advice, right? And that you should do your own research?
Yes, that. Also you may or may not be better off being lucky than being good.