It’s easy to think you are a trading genius as you reap profits in a bull market. Are you actually outperforming the market though? Below are a few cryptocurrency investing metrics for comparison. Match up your portfolio performance to see how you compare over the past 3 months, from October 30, 2016 to present day.
Bitcoin: 29.5% gain. Bitcoin has done incredibly well over the past 3 months, seeing a price increase from $711.91 to its current value of $922.03. Nothing is easier in the world of cryptocurrency than a buy-and-hold Bitcoin strategy. So if you have been trading altcoins or day trading Bitcoin with profits less than 29.5%, you may want to reconsider your strategy.
ICONOMI Index: 19.1% gain. The ICONOMI.index (ICNX) was created back in July 2016 to reflect the development of the cryptocurrency market. It includes Bitcoin, Ethereum, Monero and several other altcoins, which are rebalanced monthly. The index constitution is subject to its caretakers who select altcoins on a monthly basis, thus dampening its usefulness as a track of value. Nevertheless, if you have gains less than 19.1%, you may want to consider buying ICNX when it goes live next month. More details found at https://ico.iconomi.net
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T&C 20 Index: 52.1% gain. The T&C 20 Index is positioning itself as the S&P 500 of the altcoin market. The index was created in April 2016, and includes approximately 20 altcoins weighted by market capitalization. Aiming to be a long-term standard for tracking value in the altcoin market, the T&C 20 Index only occasionally alters its constitution. With the T&C 20 Index up 52.1%, you may want to just match the T&C 20 Index constitution found at www.altindex.io if your profits aren’t matching up.
Smith and Crown Index: 4.75% loss (1 month). This market-cap based index includes 11 of the largest cryptocurrencies by market capitalization, such as Bitcoin, Ethereum and Litecoin. As the index has a Bitcoin dominance over 90%, it trends pretty closely to the performance of Bitcoin. Of note, a historical chart dating back 1 month was the longest period they had publicly available. More details found at https://www.smithandcrown.com/index
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