Singaporean Talks Money: July 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
Tiger Brokers
Interactive Brokers (Open an account today and start earning up to $1000 of IBKR Stock for free!*Terms and Conditions apply)
►Syfe Trade Referral Code: SRPSL8MGX
►Syfe Wealth Referral Link: SRPSL8MGXE

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.

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