New Cycle Coins vs. BTC, June 2024 update

Hi all,

Been a long time since my last update in November 2023. Here is how my bags are going since I bought them in September last year. The thesis was that new cycle altcoins should outperform BTC. In fact this did happen when the altcoins were high, but now that they are on a big dip, let’s see how my basket is going.

Ton +321%

Aptos +30%

Arb -2.5%

Optimism +50%

Kas +270%

Flare +100%

Astar +20.5%

Aleph -70%

Biconomy +110%

Merit Circle (now BEAM) +600%

Average = 142% up. My $100 investment is now $242 or so.

OK, this is not bad. But if I was to buy BTC at 26K instead, I would be roughly 156% up instead.

Although if I sold these coins at their highs, this portfolio would probably outdo BTC. Anyway, time will tell. Let’s see how this may change once ETH’s ETF get approved in about 6 weeks and the end of the year. Will this basket eventually catch up? I think it may even double BTC by the time the ‘banana zone’ kicks in.