Someone needs to shoot this bear already!
It’s been a few days since we did an update on our wallet investment, and I’m sort of wishing I had waited. Once again, with the stock market bouncing back, the trade war with China looking better, and some positive news lately for several of the altcoins, I thought we would see a bounce back by now.
Which is why we started this whole altcoin investment. The bear was supposed to be hibernating by now.
Well, since I’m here and I have the info, let’s take a look and see what the damage is.
Altcoin Update
Just in case you’re new to this little venture, we initially invested $600 into a few different altcoins. This translated into one each of ETH, Dash, LTC, and Stellar, and rounding out with 10 EOS, 39 Chainlink, and 150 XRP. Here’s an overview of the investment since launch and where we’re at today, but it certainly isn’t the season to by crypto jolly.
So that was the second sharpest drop since we started this, taking our portfolio down to $430.27. Overall, that’s a decrease of $25.21 since last update, and means that we’ve lost $169.73 as everything stands right now.
No Christmas bonus for Matthew.
Here’s a snapshot of the wallet for those of you that want to see an overview of the whole thing.
Okay, I’m still (fairly) positive that the bull takeover is right around the corner, but maybe it’s waiting until the new year to show it’s beautiful face. Hopefully, some of the good news floating around these altcoins lately is a sign of things to come.
Altcoin News
In an interview with TheBlock this past Friday, the president of Fidelity Digital Assets, Tom Jessop, announced that this coming year Fidelity could indeed add support for Ether. He said, “We’ve done a lot of work on Ethereum. We intend to support it in the New Year. We’re very led by our clients.”
He also went on to say that he thinks that the main obstacles to institutional crypto adoption: price volatility, regulatory clarity, and absence of track record, will all be overcome in time. As more and more of the fintech world realizes the huge potential of blockchain and altcoins, we could see a lot of positive movement this next year.
Over at Dash, they announced that last week the online cryptocurrency exchange MedeTrade has made Dash available for use with its crypto Visa credit and debit card. You can deposit Dash into the service’s wallet, and then they are available to be spent via your card. MedeTrade offers both verified and unverified versions, but with the verified option you get higher transaction and withdrawal limits.
Dash also reported signs of rapid adoption in Venezuela for the last half of the year. From May to November of this year, they saw a 410% increase in use for “active” Dash Wallets on Android devices.
Let’s hope that Santa brings a nice, fat, long-lasting bull for us and that the market finally puts this Red Winter behind us once and for all.
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