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crypto fund retail reddit
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Nearly Two Years Later, A Retail Crypto Fund Experiment Is Down 81%

Tony Spilotro by Tony Spilotro
3 years ago
in Bitcoin, Bitcoin Cash, Cardano, Cryptocurrency news, EOS, Ethereum, Litecoin, Ripple, Stellar
Reading Time: 3 mins read
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Back at the tail end of the crypto hype bubble in 2017, it wasn’t uncommon to find posts throughout the cryptocurrency community that demonstrated what a small investment made in Bitcoin at the beginning of the year would have brought savvy investors for riches.

Just as the bubble began to pop, a Reddit user attempted to replicate such comparisons in a new year and sought to track the performance of a $1,000 investment spread evenly across the top ten cryptocurrencies at the time. The end result even nearly two years later, has been a loss of 81% on the entire investment.

Down 81%: Crypto Bubble Pop Turns $1,000 Investment Into $192

At the start of 2017, Bitcoin hadn’t even broken above $1,000, yet it ended the year reaching a price 20 times that. Many other crypto assets followed a similar trajectory, making many braggart investors wealthy that year.

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The discussion of wealth generated through even tiny investments in the asset class spread throughout discussion forums around the web, and subreddits focusing on cryptocurrencies suddenly dominated the list of top threads on the popular social content aggregating website Reddit.

Related Reading | Reddit User Wins Lottery, Buys Bitcoin: Here’s What He Could Earn 

There, on Reddit, one user who saw many threads during the previous year track their road to riches publicly, decided to create a new thread where he would track the progress of a $1,000 investment made at the start of January 2018, across the top ten cryptocurrencies by market cap at that time.

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The crypto fund experiment – nearly two full years later, is still down 81% from the initial investment. Sadly, the results of the retail crypto fund are the norm for most investors who bought in just as the bubble was popping.

Bitcoin Saves Portfolio From Added Losses, Nearly Half of Assets Fell Out of Top Ten

Even the actual list of cryptocurrencies invested in demonstrates just how much the emerging crypto market has changed dramatically in just two short years of bear market.

The investor behind the fund notes that a total of 40% of the list of top ten cryptocurrencies are no longer in the top ten, with NEM, Dash, IOTA, and Cardano all falling out of favor for the likes of EOS, Binance Coin, Bitcoin SV, and stablecoin Tether.

Tether’s appearance in the top ten alone is a strong indicator of just how bearish the market turned after the bubble popped, as it’s commonly used as a flight to stability when crypto prices are expected to crash.

“At no point in this experiment has this investment strategy been successful, explained the Redditor, adding that the “initial 2018 Top Ten have under-performed each of the twenty-two months compared to the market overall.”

Related Reading | Crypto SIM Hack: Somber Reminder To Never Invest More Than You Can Afford to Lose 

The full $1,000 investment is now worth just $192. Four performers on the list are down over 90% even today, and the entire investment would be even worse off it if weren’t for Bitcoin, which the investor remarks is “still miles ahead of the pack.”

The sad state of this crypto fund experiment is a sore reminder for crypto investors to never invest more than they can comfortably afford to lose.

Tags: bitcoincryptoCrypto Fundredditretail investors
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Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a global remote work leader with a decade of award-winning content experience and excellence. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter at @tonyspilotroBTC and feel free to drop me a line if you would like to work together.

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