Last month I started investing in cryptocurrencies using the Crypto Value Averaging Strategy described here. This post is an update on how the strategy is going so far.
The usual disclaimer: investing in cryptocurrencies is super risky. This is not investment advice, it's just what I'm doing. Only invest a very small portion of your investment portfolio in cryptocurrencies. If you have not read the original post relating to this then the below won't make much sense, so please read it before moving on.
Crypto market update: September 2017
Anyone invested in cryptocurrencies during September knows that it wasn't a great month. This was mostly down to:
The crypto market has gone up massively already this year so the price drops of September were a healthy correction in my opinion.
The chart below shows what happened to the price of Bitcoin in EUR over September. The first half of the month was bad but the second half was a lot better!
Bitcoin price in Euros September 2017
Looking back, it would have been great to buy Bitcoin on September 15th. But knowing that Bitcoin would go up after that would have been very difficult.
Starting the strategy on September 1st wasn't ideal, but at least with Value Averaging (VA) I only invested small amounts in each crypto. As you will see in this post, I got some better bargains in October!