This is a story about the volatility of cryptocurrencies and about an exceptional profit within a few hours.
A few days ago there were news about a new token on the Solana blockchain, BONK. When I first checked its price there were steady growth. To test the waters I bought some BONK on January 4, 2023 after 22:00 CET at a price of EUR 0.00000263 / token. The next morning around I saw a significant jump in the price that started to decrease, so around 08:00 CET I sold all my newly acquired tokens at EUR 0.00000358. That is more than 36% profit in less than 10 hours. And why I’m not saying this was one of my best investments ever? Well, because I originally invested only approximately EUR 15. And why I still think I made a good decision afterwards? Because the same morning I was able to stop investing a significantly higher amount in this token: at the time of writing this post, BONK is traded around EUR 0.00000149. If I had decided otherwise that would have been a real negative beta story…