Singaporean Talks Money: 2024

Sunday 21 July 2024

Looking forward to the ETH ETF release on 23rd July 2024

Twitter has been having lots of discussion on how Ethereum (ETH) will react to the release of ETFs after Bitcoin’s (BTC) successful release which propel BTC to it’s high of almost US$74,000 in March.

Some have mentioned that ETH might reach another all time high while some say that there will be a selloff and ETH will lose power from here as it is a much more difficult product to sell than Bitcoin etc.

What I think

I am not too pessimistic and with Ethereum being the largest portion of my crypto portfolio, I definitely would like it to be performing well. I do see the ETH ETF as a positive in flow for Ethereum but not too sure how retail tradfi investors will react to it as it is not as simple as Bitcoin.

Today is 20 July 2024, we can see an overall positive trend for cryptocurrency as they go green. Overall, it is a great achievement if we just think back on the journey.

My Journey in crypto

I started crypto investing in November 2020 when Bitcoin was $18,000

At that time, I was thinking that I got in too late, buying it at $18,000 (of course, I wasn’t able to afford one), I bought it in decimal points hahaha but from that time on, I started on my journey to reading up and opening up to this other world of investment products that would propel my portfolio to another level.

End 2020 and 2021 were amazing years for crypto, money was piling in, Youtubers were talking about it, NFTs were the craze. My portfolio was about $30,000 at that time and we also saw GameStop mooning in early 2021, getting my ledger nano S set up.

I got into Ethereum soon after and then the crash happened, my whole portfolio was devastated but I was happy it happened when my portfolio was $30,000 because it taught me not to sell in fear and that HODL-ing was vital and if possible add more position at a cheap price.

I was scared as it was my first crash and BTC in 2022 fell to US$14,000 while ETH fell to a low of about US$966. I did not add much as I was afraid but I was proud of myself for holding on and not selling off, as they slowly recovered in 2023, I started adding positions and now hold a substantial position relative to my portfolio. It wouldn’t make me a millionaire but I am comfortable with the current amount unless it goes up so high that I would have wished I bought more.

What I am doing

In the previous bull market, I did not take profit and instead held through the highs and lows. For this time, if it soars up above US$4500, I might take profit, what I have done is to have a ladder way to take profit. I set multiple price targets and with each target hopefully, I will sell some and eventually hold onto the remaining.

I am excited that it is happening within my lifetime haha and it’s just so cool and fun to be part of it. Sitting tight for the ETH ETF and hoping for rockets to blast off but crypto is unpredictable so we shall see if it will be upwards or a sell off towards the downside.

Affiliate links/Codes:

► Where I store my Cryptocurrencies:
► Ledger: https://shop.ledger.com/?referral_code=980EF358BYAQM (Earn $10 in BTC)
► Where I buy my stocks:
FSMone Referral: P0364886
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►Syfe Trade Referral Code: SRPSL8MGX
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Sunday 7 July 2024

Q2 Portfolio | Hitting all time highs, portfolio reaches almost $150,000, should I be realigning proportions?

Q2 has been exciting, with ETH ETFs more than halfway through, Tesla AGM, Nvidia stock split and the AI narrative still going strong, the markets has been looking good although stocks and crypto holdings in my portfolio has been very volatile.

When the markets hit ATH and gets more and more expensive, I do think if it is time to continue to DCA in as there might be a sudden black swan event or downturn where it will be more worth to dump my funds in. Or should I be realigning some positions, taking profits and putting it somewhere else?

Stocks

Stocks have rebounded quite a bit for my portfolio. The portfolio was trailing behind due due to the poor performance of Tesla but it recently rebounded due to Tesla beating the estimates of car delivery and also on news of Germany Gigafactory approval for expansion and of course, it’s involvement in AI which many have upgraded it for as Tesla dabbles into many aspects of AI example, full self driving, Optimus, Dojo just to name a few. Overall, stocks have been gaining in value in the 2nd quarter. I am continuing to DCA-ing into CSPX and doing just that.

Crypto

Crypto has been on a rollercoaster, we found ourselves looking to go up and up but we saw a decline as well. We are looking forward to the ETH ETF and that has provided a good support for Ethereum although Ethereum has not seen any huge propel in prices although it almost reached USD4000 and some are also predicting that there will not be an upside price action for it after the Ethereum ETF. This is because Ethereum is not easy to sell as Bitcoin to the institutions and looking at the data of Ethereum, it doesn’t look to be a good investment. We are hoping at an Ethereum ETF launch in early to mid July.

Also, crypto in early July met with a series of events like Mt Gox repayments and the German government selling Bitcoin, Bitcoin dropped to a low of 53,000 which is crazy as we were just celebrating huge wins in the crypto space. Well, that's how volatile the crypto market is.

Happened in July which is not Q2 but I recorded my portfolio value late so writing about it now. I did buy some Ethereum at below 3000 USD and at about 56,000USD for BTC. Wanted to just take the chance to accumulate at lower price, was not a large buy and not at the exact bottom but I am okay with that. For now, I am not looking to load on crypto and am just holding on to existing positions.

Syfe REIT+

REITs haven’t been performing great lately and it did drop further as well. Nothing much with the price action in Syfe REIT+ as a few REITs also experience some pullback. Nothing much here but just a small DCA-ing amount is being put in. I am planning to contribute till the end of the year and will stop it. This is the current plan but no concrete plans in place as things could still change along the way.

Overall

Portfolio has been hit ATH, feels like I am not investing as much as I want to be but does feel like the market is very optimistic and excited towards the 2nd half of the year, where there are expected rate cuts and it being an election year, stock market has usually performed well in an US election year so I do feel the FOMO feeling whenever I am not maximising my investments in but currently, I am taking a step back and enjoying a little by increasing my spending to enjoy.

The total portfolio hit near $150,000 this quarter and I can really see the effects of compounding after hitting the $100,000 back in the end of December, it could also be due to me holding more risk on assets like Bitcoin, Ethereum, Tesla, even the majority holdings of my index funds are in QQQ.

I am investing more in CSPX to balance out the overall risk appetite of the portfolio although I don’t think it does much as the Magnificant 7 still has a large proportion but it does include more broader industries so just adding that at the moment . Not taking profits yet nor diverting funds anywhere although I did have the thought for it.

Wednesday 19 June 2024

FOMO on Nvidia | Should I still get in right now?

FOMO hits hard and especially today as news and friends around talk about Nvidia. Opening my instagram and twitter today, I saw all of this and much much more:

Huge news but at the same time, it feels like I missed out on all the gains. I have a friend who is rather into the semiconductor industry hence he was invested in various semiconductor stocks early on, he did mentioned it to me at that time but I brushed it as it was not an industry I was interested in. Too technical and it feels like it was a really niche area.

Fast forward a few months to Covid, it seems like the supply chain was reliant on semiconductors for every electrical applicances. Still, I was not paying any attention to it as every other area like crypto, Tesla seem so much more exciting. Moving forward, the AI wave together with ChatGPT came like a tsunami and companies with hardware for AI is taking the lead in their earnings and growth as technology companies and every other companies are trying to purchase the hardware for AI compute.

Should I go in now?

Nvidia is still going to do well I think in the short term as we can see orders coming in still for it’s GPU. I don’t really know the technical things for semiconductors, CPU and GPU, design of chips and manufacturers, I think that’s about all I know.

It does feel upsetting to be missing out on all of the growth, there might be more growth incoming but I think I am not going to go in at the moment because I do feel that I have missed out the large proportion of it’s growth and I am saving up cash for some leisure travel so not going to initiate a position as I would only be able to have a small position.

I have friends who invested in it and have their portfolio rocket 🚀. I do feel jealous looking at it, the growth has been massive so I comfort myself by saying that I do holding Nvidia as well via my QQQ positions. Haha, I know it is different but somewhat the same?

Overall, I enjoy the memes and glad that the market overall is hitting ATHs, my portfolio has been steadily growing and my QQQ positions has been growing so happy with that. Happy with how the market is, missed out on this but there will be many opportunities in the years to come, I hope haha. I don’t think the AI growth will stop here rather, it will be growing and might have just started. Looking forward to how the portfolio will look at 2H 2024. Q2 portfolio update coming soon.

Sunday 26 May 2024

An update on my crypto portfolio in 2024

In 2024, I would say that my crypto portfolio is a lot cleaner compared to the highs of crypto in 2022 where I was holding a lot more coins that were like game tokens, I was playing around with so many and have chosen to standardised it to 3-4 positions right now in 2024.

Memecoins and AI tokens have taken the quite the stage once again this cycle as we see individuals who made it big but definitely there are those who lost money. Some might ask me why not just try out with the alts since there might be a chance that I can make it big? But I have grown tired, lost some money in the previous cycle and so just holding onto the bigger ranking coins are enough for me.

I currently have 4 positions in my crypto portfolio, namely Bitcoin, Ethereum, Solana and Chainlink. If you consider the proportion of the individual positions, you can just consider it as Bitcoin and just Ethereum.

Crypto portfolio as of 24 May 2024:

How has it been in 2024 and going into 2025

ETH has been stuck in the $2000 - $3000 USD region for quite some time. Solana has been the one gaining lots this period as the fun memecoins has been there.

But the recent hype on the approval of the ETH ETF has been helping ETH price action as per the chart below:

The listing of the ETH ETF is not yet confirmed, only approval has been given and so there is no set date yet for the listing. It is great news and the approval of the ETH ETF was really rushed with the SEC giving short notices to the companies on what was the progress and so when more action was needed from the company, it was only a few days before the approval.

2025, the year when everything goes wild?

When we entered 2024, it was predicted that there will be 6 rate cuts but now, we are almost halfway into 2024 and yet 0 rate cuts have happened and most predict for 1 rate cut this year. So most of the cuts are predicted to happen in 2025 and 2026, but of course, nothing is certain and the FED has for now says that they would like to observe the inflation data over a period before deciding.

When the interest rate cuts starts, it is predicted that the markets will rally as money would be more accessible so we can see how it all goes. In the meantime till then, continue accumulating and will update along the way as time goes.

Friday 24 May 2024

ETH ETF has been approved | Why this is particularly interesting and crazy

Hi guys! Its cuurently about 5.30am, 24 May 2024 and it was announced by the SEC that ETH ETFs have been approved, there have 8 ETH ETFs from BlackRock, Fidelity, Grayscale, Bitwise, VanEck, Ark, Invesco Galaxy and Franklin Templeton approved.

None of my friends are really into cryptocurrency so I do not have anyone to share the news with although it is exciting as ETH is my largest holding in my crypto portfolio. Not life changing amount but a nice amount, comfortable allocation. ETH has been rather "boring" in it's price action recently compared to BTC which had ETF listing and the ETF listing and alts going up and up. Solana stole the show as we saw it soar back up as the ease of using it and cheaper fees attracted huge numbers.

Holding ETH felt horrible as it was stagnant looking at the rest, even the price action after the approval of the ETH ETF has not propel it upwards and beyond. The ETH ETF will not list immediately as there are still some forms to be completed and approval so it will take some time and anything can still happen. It feels rushed and we can only hope that the listing will go smoothly although it will take some time.

What now?

As we see ETH ETF being approved, many have said that SOL ETF is coming up or even a DOGECOIN ETF? The banks and major institution has gotten so much interest and definitely money/fees from the BTC ETF so there is no limit to how much they can continue to earn if they can endlessly generate crypto ETF but of course these are all to the SEC and regulation to decide. As well as volume.

Some individuals do not see a huge funds inflow into the ETH ETF as much as BTC ETF after all Bitcoin is definitely much more "sellable" and easier to understand. But a percentage of the inflow of the BTC ETF would already be great. Currently, it does feel like the approval has been priced in but the Asian population is mostly not awake yet so we shall see towards the end of 24 May 2024 on how it is.

Why it feels so surreal?

Just last week, the consensus was that the ETH ETFs will not get approved as it was a already very close to the deadline and normally, much more preparation and time will be needed so no news meant that the ETFs were most likely not going to be approved.

It was predicted that the ETFs had a 25% chance of being approved but on Monday or Tuesdays, the ETF issuers was asked to fill up forms and this spiked up the interest back for the ETFs approval, the 25% estimated approval rate was then changed to 75%. With the next 2 or 3 days, it felt like the approval was possible and what made this so crazy was the short timeline where the issuers had to move to fill and provide the necessary information.

So the updates from the SEC to the issuers happened within the week and it was a rollercoaster ride as the initial thoughts were that the ETFs are not going to be approved. Well, I do not have any positions in Nvidia so this news makes it up for the FOMO. I never imagined that BTC and ETH could be in the stock market at such a fast rate. Meanwhile, meme time will entertain us until the official listing of the ETH ETFs! Have a great Friday and weekend ahead!

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