Here I am – buying yet again.
This isn’t my first buying spree of the month, I wrote about my previous round of buying in “Crypto Shopping Cart – 6 June”. Some things have changed since than, some haven’t .
Last time I went shopping I bought Holo (HOT), Ontology (ONT) and Icon (ICX). I also announced my intention to sell ETC and stock up on more CargoX (CXO). Let’s take a look at what I did this time.
A lot. I have actually been shopping three times since my last Shopping Cart blog post. The fact that I am now averaging a shopping trip once a week is a very good sign; it shows how much the market has recovered and how many good investment opportunities there now are.
First shopping trip:
As mentioned in the 6 June post, I did sell my ETC. Since then (6 June) ETC has only dropped in price, so that was a good call.
CargoX (CXO)
Big surprise: Bit Brain bought his favourite low market cap coin. Again. One day I must add up how many times I have bought CargoX, I must have set some sort of world record by now. I bought my CargoX on KuCoin. In the interests of transparency: I must tell you than KuCoin have again marked CXO as “ST”. This is a KuCoin procedure where they place coins that have not performed well recently in a probationary state. If the coins do not start performing, they may delist them. There is no cause for alarm, many coins are ST at any one time. I have mentioned on many occasions that CargoX had a very slow start to 2019, the the ST tag does not surprise me. I took the slow start as an opportunity to just keep buying CXO. But in late May all that changed: CargoX has performed very well lately, it is one of my top performers this month. The volume is over four times what it was a month ago. It is one of few coins that has far outperformed BTC in June, so it should have no problem losing the ST tag when it is reviewed. As you can see, I’m still buying!
Switcheo (SWTH)
This buy hardly counts. I was holding Aphelion (APH) but the project ran out of money. Though it has found investors since then, I believe in the “once bitten, twice shy” approach to crypto. If a project runs out of money then it has budgetary issues. If it has budgetary issues then it is poorly managed. I am heartily sick of poorly managed crypto. As someone who has invested in many “shitcoins” which have died, I have seen this happen far too often. So I sold my APH and bought SWTH instead. I literally only bought a dollar or two of it, which is why I say that it hardly counts. I’m leaving mine on the exchange, where it will pay for trading fees when I use Switcheo in future.
By the way, as of 21 June the EOS/NEO trading pair atomic swaps are live on Switcheo.
Second shopping trip:
My next shopping trip was funded by a fiat buy. With Ether starting to look very positive on fundamentals (a lot of ETH adoption has been taking place lately with large e-commerce platforms), I decided to buy some ETH. I used that ETH in turn to buy the following:
Ether (ETH)
I kept some of the ETH because, even though it is a very high market cap coin, it is a relatively safe bet and potential ROI is still looking good.
TenX (PAY)
The price of TenX is doing badly. This is despite the fact that TenX does now issue working crypto credit cards. It will also airdrop TENX tokens to qualifying PAY holders soon. I think that people are frustrated by the wait for cards from TenX – which wasn’t really TenX’s fault. When I see a coin being undervalued for no proper reason, I buy it! Since I bought PAY, it’s price has dropped even further. I can not see how crypto credit cards will not be very popular soon among the many new investors who are used to using old banking/payment methods. If you’re looking for a good deal – look at TenX.
CargoX (CXO)
Yes. Again. I bought it AGAIN! In fact: I messed up a buy order cancellation and I bought it another two times by mistake! That’s okay, I’m not sorry!
WAX (WAX)
I spoke about the WAX token swap last Friday. I think this could well drive up demand for WAX. The idea of three years of passive staking income has serious appeal, so I bought more WAX, quite a lot more. It hasn’t taken off yet, so I strongly suggest that you DYOR quickly and consider this potentially lucrative buying opportunity. Here, I’ll start you off: https://wax.io/blog/introducing-the-genesis-block-member-program-join-and-receive-daily-token-rewards-for-3-years
Vechain (VET)
Up 37.7% in the last 24 hours, I’m glad I bought this. As it dipped last week, I kept telling people on VeChain groups that they should be buying, not selling in frustration! Amateur mistake – their loss. VeChain is undervalued, therefore I’m buying it.
KuCoin Shares (KCS)
Always a good buy. Remember that this coin pays dividends. Remember that KuCoin is one of the best and most honest exchanges in terms of volume reported – possibly the most honest of all. Remember that as markets pick up, so exchanges get busier and exchange tokens become more valuable – especially the good ones. KuCoin isn’t good, it’s fantastic!
Enjin coin (ENJ)
The hype around Enjin Coin has finally died down enough for me to buy more of it. Considering what this coin is and what it could and probably will become, buying more was an easy decision for me.
Third shopping trip:
My final shopping trip was funded entirely by STEEM. I don’t want to sell STEEM at this price, it’s definitely a “Sell Low” situation – which is a very bad way to trade. But I have to be honest and say that the recovery of STEEM is looking more like an “if’ and less like a “when”. The charts remain very negative and I worry that STEEM may not recover. I will not sell all my STEEM, but I am liquidating a fair amount of it to hedge my bets.
Holo (HOT)
It was a good buy on 6 June’s shopping trip, and it was a good buy again on this trip. If you look at the charts today, you will see that Holo is very cheap. That’s why I bought it. Holo was a no-brainer for me, a very easy buy decision. The other coins on this last shopping trip I had to think about a bit.
Ontology (ONT) and Tron (TRX)
I didn’t have a lot of STEEM and, as I just said, the price is very low. Splitting it between too many coins makes no sense. I wanted to buy Holo and one other, but I was torn between Ontology, Tron and Icon. Looking at the charts, ONT and TRX looked like “must buy” coins, Icon didn’t. I split my remaining funds between ONT and TRX – both of which bottomed (vs BTC of course) the next day. Hopefully they will climb now.
Well that’s it Bit Brainians, another loaded Shopping Cart. I can’t wait for altcoin season to kick in. For now I’m sitting at just over 30% BTC, a percentage which I have no intention of reducing while BTC remains so bullish looking. It will be very interesting to see what that percentage is a year from now.
Yours in crypto
Bit Brain
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“The secret to success: find out where people are going and get there first”
~ Mark Twain
“Crypto does not require institutional investment to succeed; institutions require crypto investments to remain successful”
~ Bit Brain
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