Our portfolio has grown significantly in the past week, thanks to the overall rise in the crypto market on the background of the listing of Coinbase stocks. At that moment, Bitcoin even set a new all-time high. Let’s see how our portfolio has changed a week after these events:
Our portfolio is down 15% in just a week. This is the biggest drop in the entire time of our experiment. It indicates a general decline in the entire crypto market. The table shows that this time not a single cryptocurrency showed positive dynamics for the week. However, our initial investment is still showing strong growth of 646%.
Ethereum lost the least in value – its price fell by only 3%. Of our entire portfolio, Ethereum has the strongest chart structure. We think that the ETH price will reach a historical maximum in the next week and set a new ATH. Thus, we expect to see an increase to at least $2,550 and even more in the next 7 days.
Litecoin also fell slightly compared to other coins in our portfolio – by 6.7%. Most likely, the chart will once again go down to the $240 level. This is where the biggest resistance is now. The price has already dropped to this level several times, but buyers quickly redeemed these fallings. We think that it is not worth expecting strong growth from the coin in the next 7 days. Now the price has moved sideways, and the maximum to which it can rise is $280.
But Bitcoin experienced a real collapse in price – its value fell by 15.5% and continues to decline. We think the chart will drop to the $50,000 level. Depending on how the struggle between buyers and sellers unfolds at this level, it will become clear whether we should expect new growth from Bitcoin.
Cypterium followed the market trend and also declined significantly. Its price broke through the resistance at $0.40 and rushed down. Now the chart is near the $0.36 level. At the same time, on the daily and 4-hour timeframes, the indicators indicate that the asset is oversold. This means that the fall should stop, and signs of a reversal will appear soon. We think that the price may return to the $0.40 level again.
XRP became the leader of the fall this week, falling immediately by 25%. Recall that last time, this coin was the growth leader with an indicator of 87%. We are now seeing a correction, as a result of which XRP has already lost 35% of its maximum growth point. Many signs indicate that XRP may decline further, all the way to the $1.10 – $1.00 range.
Despite a strong decline in our entire portfolio, the structure of coins has changed little and is within the established limits. Therefore, this time we will not rebalance.
The past week turned out to be extremely negative for the entire crypto market, which can be seen in our portfolio. The fall in Bitcoin triggered a fall in the rest of the cryptocurrencies. All attention is again focused on the first cryptocurrency – depending on how it behaves, and it will become clear what to expect from the crypto market next week.