Crypto Daily: Top-5 Portfolio Grew at 3%; Litecoin is Leader
Today we continue to talk about our experiment with portfolio rebalancing. Last week, our portfolio value dropped slightly to $12,680, but remained well above the initial investment. Let’s take a look at how the portfolio has changed over the last 7 days:
The portfolio value set a new record, and for the first time crossed the $13,000 mark. Growth for the week amounted to over $300, or 2.64%. Our portfolio is already 30% above the original $10,000. On the whole, the week was calm for our assets.
Litecoin became the leader by a wide margin, growing by 13% and breaking the $60 mark. During these 7 days, LTC showed very high volatility, which exceeded 10% per day. However, despite this growth, further growth of the asset is in great doubt, as there are no fundamental reasons for growth. In addition, a bearish divergence has formed on the chart, which signals a possible decline.
Litecoin was followed by Ethereum, which increased its value by 2.18%. It should be noted that during the week its growth exceeded 10%. Last Friday the price of ETH rose to $446. This is the two-year maximum for the ETH. Since that time, the price began its decline to the current levels. In the near future, we should see consolidation at current levels.
Bitcoin also grew slightly over the week — by 1.39%. A few days ago, its price was $12,500, but it could not stay at this level and currently fell by $750. All of this resembled a bull trap, indicating that manipulators have arranged its value more than once. A rising wedge has also formed on the chart, and therefore we expect to see a decline towards the $11,000 area.
The situation is similar with XRP, which was first on the roise, and then went down to previous levels. Now, the coin has formed a double top on the chart, and a number of indicators show further decline towards the $0.23 level.
CRPT was the only coin that lost quite a bit of value — 0.35%. However, this value indicates a sideways movement, not a fall. For two months now, the coin has been in consolidation, and serious prerequisites for its growth have emerged. The MACD indicator also indicates this.
The share of each asset is still within acceptable limits (no coin has lost 2.5% of the total share). Bitcoin came closest to the required parameters for rebalancing, losing 2.41% of its original share. We will not be doing portfolio rebalancing this week. But there is a high degree of probability that this will have to be done in 7 days.
In general, this week did not show significant changes, although the activity on the market was high. There were a lot of ups and downs, but in the end, everything returned to past levels.
