Crypto Daily: Top-5 Portfolio Exceed $60,000 For The First Time

Crypto Daily: Top-5 Portfolio Exceed $60,000 For The First Time

Today we continue to talk about our experiment with rebalancing a portfolio from the Top-5 cryptocurrencies

Crypto Daily: Top-5 Portfolio Exceed $60,000 For The First Time

Last week, our portfolio was just over $57,000. It is the largest value during our experiment. Let’s see how the state of our portfolio has changed over the past 7 days:

For the second week in a row, our portfolio has shown significant growth. This time, its value increased at $5,000 or 8.92%. This is the first time that our portfolio has exceeded $60,000. This means that our initial investment has already increased by 600%. At the same time, Bitcoin became the only coin that showed negative results this week.

XRP was the growth leader by a wide margin and grew at 61%. However, this result was even greater, because on Wednesday its price climbed to the level of $1.12, which was almost a 100% increase price of the last week. We assumed that this coin could shoot hard and our assumptions came true. So far, we expect the chart to move sideways for a while, after which it will become clear where XRP will move next.

Litecoin also showed significant growth, which grew by 12.96% over the week. As we expected, it broke through the upper border of the triangle, which triggered a strong jump in the price to $240. Now the price has dropped slightly but shows signs of a reversal. We think that in the next 7 days LTC will rise to $240 again and break this level. In this case, the price can go directly to the range of $280 — $300.

The third place in terms of growth this time was taken by CRPT with a result of + 6.25%. Throughout the week, the price continues to move under the downtrend and several times broke it from the bottom up, but the chart could not gain a foothold above. All this indicates a phase of accumulation before a new strong upward movement. When the price consolidates above $0.47, then we can expect growth to the level of $0.60 — $0.62.

For Ethereum, a significant event happened this week — its chart set a new ATH at $2,146. After that, the price rolled back down, but continues to hold above the key level of $2,000. All this allowed the coin to grow slightly by almost 5%. In the coming week, we will see buyers’ attempts to test ATH again. Growth can be expected up to $2,500 if the chart can gain a foothold above $2,150 on the daily timeframe.

Bitcoin was the only coin in the portfolio to lose value. The decrease was just over 4%. For the last 3 weeks, Bitcoin has been trying to break through the $60,000 level and gain a foothold above it, but so far it has not succeeded. Price is trapped in an ascending triangle and moves within it. We think that yesterday’s 3.5% decline is the last within this pattern and that the chart may soon turn upward. After consolidating above $60,000, the price of Bitcoin can skyrocket to $67,000 area.

The structure of our portfolio has changed significantly and many have significantly changed their share in the portfolio. Based on this, we will rebalance. We will sell some Ethereum, Litecoin and XRP. We will buy BTC and CRPT using the freed-up funds through Crypterium Wallet with almost zero fees.

The past week was successful for the altcoin market. Almost all of them showed significant growth. This trend has been reflected in our portfolio as well. Let’s see if this continues in the next 7 days. 

 

Crypto Daily: Top-5 Portfolio Exceed $60,000 For The First Time
Crypto Daily: Top-5 Portfolio Exceed $60,000 For The First Time