Crypto Daily: Top 5 Portfolio Down 3%; The Сrypto Market Turns Up

Crypto Daily: Top 5 Portfolio Down 3%; The Сrypto Market Turns Up

Today we continue to talk about our experiment with rebalancing the Top-5 cryptocurrencies. Last week, our portfolio dropped significantly — by 8% to $46,500. This was due to the general drop of the crypto market at that time.

Crypto Daily: Top 5 Portfolio Down 3%; The Сrypto Market Turns Up

Let’s see how our portfolio has changed this time and what to expect from Bitcoin and other altcoins in the next 7 days:

As we can see from the table, the value of our portfolio has declined this time as well. But it should be said that the decline is not as big as last time — only 3.23%. At the same time, the volume of our portfolio is still 450% higher than the initial investment. It is possible that this decline reflects the correction that has now emerged in the crypto market.

For the second week in a row, Bitcoin lost the least in value among our cryptocurrencies — 1.38% per week. As we predicted, Bitcoin was able to turn around and began to grow. Just yesterday, its price broke through $50,000 and even reached $52,000, but could not resist falling back to $49,000. We think that in the coming week Bitcoin will continue to grow to $55,000 — $57,000. There is also a possibility that at the same time its price could reach $60,000.

Litecoin was the only coin to rise this week. The growth was 2.26%. Our previous LTC forecast was fully justified — at first, the chart dropped to $150 and then rose again to $180 and $200. We think that this week its price will be able to break through an important psychological level at around $200 and after that the chart will rise to a range of $240 — $250.

The Ethereum price dropped a little more — by 3.57%. But the chart itself began to improve in terms of technical analysis. The price bounced off the resistance level of $1,400 and turned up, the indicators were heavily unloaded. All this indicates that the coin may now begin a new period of intense growth. We think Ethereum will hit the $1,750 level. If it manages to gain a foothold here on the daily timeframe, then the chart may rise up to the range of $1,900 — $2,000.

XRP price is down 6.74% this time over the week. Despite the fact that the price fell over the week, in reality, everything is not so critical. In the last 5 days, the chart began to reverse and rose from $0.40 to $0.44. A similar picture is observed with indicators that have already turned around and show an upward trend. Now there is a high probability that the chart will rise to the $0.50 level.

CRPT could not hold above the trend line after the breakout and went down again. However, within 2 days, the price recovered and continues to rise. The indicators also indicate that the price of the chart will rise in the near future. We expect to see growth all the way up to $0.30. Depending on how the price will behave at this level, it will become clear where the chart will go next.

The portfolio structure has not changed much this time and the share of each cryptocurrency is within acceptable limits. Based on this, we will not rebalance this time.

The crypto market this week began to recover from the previous decline by 20% — 30%. Over the past 7 days, many altcoin charts have begun to form reversal patterns that have great potential. Based on this we expect to see the market grow in the coming week. Crypterium gives you an excellent oportunity to buy a cryptocurrency with minimum commisions. 

Crypto Daily: Top 5 Portfolio Down 3%; The Сrypto Market Turns Up
Crypto Daily: Top 5 Portfolio Down 3%; The Сrypto Market Turns Up