⚡️The whole market is moving higher !
Chainfund report 02/09/2018
Dear Investors,
As of the 1st of September, the share prices of our portfolios are the following: $79 for the Dynamic and $80 for the Extreme.
The whole market is moving higher and Bitcoin has stopped below $7100. The thing is that while the bitcoin price was increasing, the altcoins price were not increasing much except a few coins like NANO. Charlie Lee, Litecoin creator has said that this project has everything to succeed. His influential power in the crypto world has certainly participated in boosting the NANO price higher.

Waltonchain has also strongly increased over the last week gaining almost 100%. Bithumb has listed the coin and I believe that this info has certainly leaked before. On top of that Korean people are allowed again to make deposits after many months of ban. Koreans are often FOMOing very hard and it may be wise to countertrade them at times. The Walton price has increased around $5.3 on its Bithumb day before drifting towards $4.7.
Rumours of mainnet are coming for Chainlink and the token has had a great performance over the last two months jumping from below 20 cents to over 32 cents. The no-marketing rule from the team makes any official tweet pumping the coin. A partnership has also been signed with MARKET protocol “enabling derivatives traders to create highly complex derivatives”. LINK is a coin that we really like as this project aims to be a global standard for smart contracts.
Regarding the bear market, despite the great fundamental news (Bakkt, coming ETFs, custody solutions), the market psychology does not change overnight and the bubble that we experienced in 2017 and in particular in January should continue to have consequences on the market participants. I can see that the overall sentiment is still full of hopes of a bull run before the end of the year. That may happen of course but I consider that those expectations are still way too important. On top of that when we look at the state of development of many projects, many if not most are barely used.
The famous“Capitulation Phase” is certainly not there yet. And should be there only when investors will wonder if “Cryptos are really going to take over the world?” Indeed, there is a consensus amongst market participants where bubbles in the crypto market should happen faster than the previous ones. On the contrary, I believe that the more mature the market is, the longer time it will take to make a full cycle (from euphoria to depression). Nonetheless I am still a strong believer that we will see another major run, patience is key. Fundamentals will speak sooner or later.
Talk to you next week,
Yann Quelenn
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