Last month, we were left with a dire situation with our cryptocurrency investment to say the least, with our assets falling by around 35% in just one month. A collapse caused by geopolitical tensions, but also by the energy crisis, which is pushing investors around the world to position themselves on more stable assets than Crypto. In our hearts, we were hoping for at least a small rebound of the entire sector for the month of June. Unfortunately, as we have told you in recent weeks, the decline in cryptocurrencies has continued inexorably on its downward path, further sinking our investment.
Our cryptocurrency investment: where we left off
At the end of May, we found ourselves with a cryptocurrency portfolio worth around € 64, down sharply from the initial € 100 investment. Faced with this situation, we decided to convert the few coins we had in Cronos (the result of the rewards program of the Crypto.com site that hosts us) into Bitcoin, aware of the fact that if the crypto sector recovers, the first cryptocurrency to benefiting from it will inevitably be the best known and most used one. Let’s see how it went in the last few weeks.
The collapse of our cryptocurrency investment
As you can see from the image above, the current situation of our portfolio leaves no room for doubt or interpretation. Our investment had a further 40% decline, hitting a disheartening -62% since the start of our cryptocurrency journey. A decline that, as can be seen from the image, has transversally invested all the cryptocurrencies we own, effectively making any further analysis superfluous. Even if there is never an end to the worst, we can only hope that we have finally hit bottom, and that this is only a starting point towards a desirable recovery of the sector and specifically of our investment.
Our moves
How to react to this situation? The rule we gave ourselves at the beginning of our journey into the world of cryptocurrencies requires us to make at least one movement every month, in correspondence with our written update. We therefore choose to once again replenish our increasingly small loot of Bitcoin, converting the few coins we have left into this cryptocurrency. JasmyCoin, one of the last bets we made before the catastrophic collapse of the sector. This movement is obviously loss-making, but at the point where we have come it makes little sense to talk about gains or remittances.
So let’s start again from these miserable 38 euros, waiting for an increasingly difficult rebound of the entire sector that will at least lead us to talk about small growths and not just sudden drops. Will it be the right time? appointment next month to find out.