Crypto Daily: Top-5 Portfolio Decreases In A Month

Jun 10, 2021
07:06
2 min reading

Choise.com team

Last week, the decline in portfolio value stopped and we took it as a good sign. However, over the past 7 days, there have been a lot of events on the market that greatly influenced the charts of cryptocurrencies. Let’s take a look at how they affected our portfolio:

Despite the reversal of the entire cryptocurrency market, our portfolio continued to decline. Its value this time decreased by 4.12% and amounted to $47,833. None of the cryptocurrencies this time showed positive dynamics in 7 days. Based on this, we can say that the downtrend in the cryptocurrency market has been going on for a month. However, our portfolio shows weaker decline dynamics compared to the entire market.

Bitcoin lost the least in value, the price of which decreased by 1.3%. However, one must understand that during the week the chart of the first cryptocurrency fell by 20% down. After that, just yesterday, Bitcoin turned around and began to grow due to a large amount of positive news. So far, there is absolutely no certainty that the price will continue to rise. We think there is a chance to see Bitcoin at $40,000 within a week and after that there will be another collapse in prices.

Ethereum price dropped by almost 4% in 7 days. However, the most alarming is the fact that volatility has noticeably decreased in recent days and the chart is marking time. It seems that ETH is frozen in anticipation of news ahead of a strong new movement. At the moment, the chart of the coin is moving in an ascending triangle and has every chance to rise again to $3,000. But at the same time, if the price falls below $2,300, then the chart may turn into a strong decline to the range of $1,800 – $2,000.

The LTC chart is down 6.24% this time. In the past two weeks, the Litecoin chart has been squeezed in a wide range of $150 – $200, and it is within it that the price moves. At the moment, buyers have almost no support for the coin and as a result, the chart is slowly declining. We do not see any prerequisites for a reversal at the moment, and the best position would be waiting.

CRPT so far follows the entire market and has declined 7.5% during the week. However, the morning star reversal candlestick pattern has now formed on the chart. After that, the CRPT chart grew by 10% pretty quickly. The technical indicators Stochastic and RSI are also showing signs of a reversal. We think that in the next week the price of CRPT may rise by another 10-15% and come to the level of $0.25.

The leader of the fall this time was XRP, the price of which fell by more than 10% in a week. In recent times, the coin has begun to reverse and has already risen 18% from its low point. Now the price is near the middle Bollinger line and is trying to gain a foothold above it. We expect to see another round of XRP growth all the way up to $1 per coin.

During these downturns, the structure of our portfolio has changed a lot. The shares of Bitcoin and Litecoin have gone beyond the established limits. Therefore, today we will carry out another rebalancing. We will sell part of Bitcoin and XRP and use the proceeds to buy CRPT, ETH and LTC.

The past week turned out to be negative for the crypto market, but yesterday’s news turned the market upward. But you need to understand that this can be a false reversal and a bullish trap. Therefore, it is very dangerous to trade now. It is necessary to wait for the confirmation of the trend and only then proceed to active trading. We recommend you try the AI Price Predictions feature inside the Crypterium Wallet to get a more accurate forecast for these days.