Last week it rose by 17% and surpassed the $75,000 mark. As a result, we carried out another rebalancing, selling part of the greatly increased CRPT. Since then, the market has undergone major changes. Let’s take a look at how they affected our portfolio this time:
Over the week, the volume of our portfolio fell by $5,500, or 7%, and dropped to $70,000. Most cryptocurrencies have shown a downward trend this week and the consequence of this was the fall of the entire market. However, our portfolio has an unrealized return of 700%, which is a good result over the 17 months of the experiment.
The leader of growth for the third week in a row is CRPT, the price of which increased by 5%. This is the only coin in the past week in our portfolio that showed positive dynamics. As we predicted, the chart rose to $0.30 and even higher, but was unable to gain a foothold there at the moment. If from the current levels CRPT shows growth again and overcomes this mark, then there is a high probability of explosive growth. In the course of this development, the price may rise to a range of $0.48 – $0.50.
It was followed by Ethereum, the price of which fell by 4.4% and dropped below $4,000. After yesterday’s market collapse, the chart fell into the range of $3,900 – $4,000 and dropped out of the ascending channel. This could be a harbinger of a new decline. In this case, the Ethereum price will drop to $3,600, which can be considered the end of the correction.
Over the past 7 days, Bitcoin fell by 8.69% and just yesterday settled under the $60,000 level on the daily timeframe. The chart broke through an important support level, as sellers turned out to be significantly stronger than buyers. Most likely, this is not the end and we can see another round of decline. In this case, the Bitcoin price will fall in the range of $53,000 – $54,000. It is here that a number of signs are located, according to which a reversal may occur.
XRP has been moving near the $1.10 level for almost the entire week and has not deviated much from it. However, yesterday’s market downturn led to a sharp drop in value. At the same moment, XRP fell to $0.94, but buyers quickly returned the price to the $1 level. The price is now near the dangerous level of $0.97. If the chart fixes below it, then XRP may fall back to $0.90. This is where the nearest major support level is located.
Litecoin fell the most this week – by 12%. For most of the week, LTC tried to break through the resistance level at $200 and once it succeeded. However, sellers quickly activated and brought the price back. It is rather difficult to predict anything on Litecoin. Most likely, the price can move sideways in a wide range of $170 – $200.
The market experienced a significant drop this week and the CRPT hedged our portfolio well. But despite this, all our assets remained in acceptable shares. Therefore, today we will not rebalance and keep the same volume of coins in the portfolio.
The past week turned out to be negative for the portfolio. First of all, this is due to the fall in the price of Bitcoin from a new all-time high. All this led to a correction in the market, which was especially noticeable yesterday. At the same time, there is now a threat of further decline, so you need to be extremely careful in your transactions.