Crypto Investment Update – December 2024

This Opinion post first appeared in my blog here: https://pwlcm.wordpress.com/2025/01/02/crypto-investment-update-december-2024/

This is a performance update to my crypto portfolio posted here: https://pwlcm.wordpress.com/2024/12/02/crypto-investment-update-november-2024/

Disclaimer: This post is just for educational sharing purposes. Please do your own due diligence on any products mentioned in this post.

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Transaction Update

In my previous crypto blog post Crypto Investment Update – New Additions published on 12 December 2024, I mentioned a few transactions in my crypto portfolio:

• Sold TKX at SGD20 on 4 December 2024
• Sold TKX at SGD23 on 7 December 2024
• Withdrew half of my capital on 7 December 2024
• Bought ADA at SGD1.5497 on 9 December 2024
• Bought XRP at SGD2.997 on 10 December 2024

After that, my Sell Limit Orders on ETH and TKX were triggered, and I had enough cash balance to withdraw 2nd half of my crypto investment capital:

• Sold ETH at SGD5,500 on 17 December 2024
• Sold TKX at SGD30 on 25 December 2024
• Withdrew 2nd half of my capital on 26 December 2024

In my Crypto Investment Update – November 2024 blog post, I ended the post mentioning my intention to gradually liquidate and eventually withdraw my capital, leaving behind only the house money to play.

Never did I imagine that I would achieve this target so soon. My crypto portfolio is now risk-free. It is a really nice Christmas present before 2024 ended!

Market Update

I discovered that TradingView now has SGD-denominated crypto charts provided by Tokenize Exchange, and it includes chart for TKX as well. I decided to switch to these SGD-denominated charts since it truly reflects the actual portfolio values. I took this opportunity to drop LUNA2 chart from the market update, and focus on the remaining 6 crypto coins in my portfolio.

Here is the 6 crypto coins in my portfolio as of 31 December 2024:

Since I'm creating new charts, I have removed the support and resistance levels previously present in the USD-denominated charts for a cleaner display. I kept the Ichimoku Cloud for each coin, kept the Bull Flag Channels for BTC/ETH/SOL to see their upside breakouts, and added the Fibonacci Extension to all the coins for consistency.

For the main coins, BTC had hit the 100% FibExt level and retraced back to sit on its cloud; On the other hand, ETH only managed to break its previous March 2024 ATH (All The High) level, but not the 100% FibExt level, and it also retraced back to sit on its cloud.

For the alt coins, SOL followed similar path to ETH, broke its March 2024 ATH, didn't hit its 100% FibExt level, but it retraced and dropped below its cloud. Both ADA and XRP had a strong rally in Novemberc 2024, and had since retraced back to their respective clouds, which provided supports to cushion their falls. My view is that the alt coins' bullish movement are still intact.

As for the utility coin TKX, after hitting its 100% FibExt level, it picked up a fast and furious upwards movement and quickly hit the 300% FibExt level. It is rising too fast to my comfort. Thinking that this parabolic rally is not sustainable with the current momentum, I have decided to place a Sell Market Order on TKX today (2 January 2025) and cashed out a portion of my TKX holdings at SGD63.

With the sales proceeds from TKX building up my cash balance, I setup Buy Limit Orders on the 3 alt coins, SOL at SGD275, ADA at SGD1.25, and XRP at SGD3, with the intention to build up my alt coin allocation.

Performance Update

My crypto portfolio performance as of 31 December 2024:

2 new members were added to my crypto portfolio, ADA and XRP. Together with SOL, all 3 alt coins suffered corrections and their XIRR dipped into negative territory. Among the 3, ADA suffered the biggest decline. However, take note that the XIRR figures for ADA/XRP are highly skewed because they were bought and held for less than a month time.

TKX was the biggest winner, its XIRR performance has almost double that in end November 2024. Even after liquidating a fair bit of TKX, its allocation was still higher than that in November 2024.

Referral Links

Tokenize Exchange: https://tokenize.exchange/topic/invited/?invite_code=Vn58M