Crypto portfolio update

Exposure: 17.1%

Net return: 602.8%

Comments: In the previous newsletter I wrote that the crypto bulls were getting exhausted from ever-falling prices, but that a bounce could - ironically - be expected:

And I turned out to be right.

BTC/ETH caught a bid going into the FOMC meeting, resulting in the biggest bounce seen in a month:

Shortly after the meeting, however, prices started falling again... and it seems like we've just seen the local (short term) top.

In the bigger picture, things aren't looking great either.

The S&P has bounced off the major resistance line:

And so has ETH:

And so the immediate outlook seems to be more bearish than bullish.

My base case therefore remains unchanged: I'm still expecting to see a new low.

Many influencers called for the bottom in June, and then again in November. As much as I'd like prices to recover sooner rather than later, I'm afraid I do not share their optimism.

Now is not a bad time to start DCA-ing, but I wouldn't allocate a big portion of my portfolio to it; There's a good chance for prices to get even cheaper in the foreseeable future.

There's more pain to be had before the eventual recovery.

Current allocation:

 DeFi Kingdoms combat

Some juicy combat details have been released in a recent AMA.

I've summarized the main points here:

I have to say that I quite like the direction the devs are taking the combat system and the hero abilities/skill attributes.

For the first time since I sold my DFK assets earlier this year, I'm starting to think about re-investing back into the game.

The question, however, is timing. The fundamental landscape isn't looking great at the moment and a dose of caution is warranted.

If you want to know exactly when I start buying in again, consider joining the private group.

Admin update

• Since its inception in June, our private group has vastly outperformed the market. Members have been reaping the benefits and I've even been asked to raise the subscription fee:

• The subscription has now been raised to $35 and there'll be a limit to the number of members. Click here to get in while slots are available.

 Guess who

I've watched this over a dozen times and it still makes me laugh every time (turn on subtitles):

 Quote of the week

Bad trades occur when you try to force things to happen. Be forced in, don't force it.

- Anthony Crudele

Thanks for reading, and have a great weekend.

Cheers,
Slowmad

P.S. If you have any questions or feedback, let me know at: chris[at]digitalslowmad[dot]com

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