Top-5 Portfolio Crashed; Crypterium became a Leader

Today, we continue to talk about the experiment with rebalancing a portfolio from the Top-5 cryptocurrencies. Last week the volume of assets in dollars was $12,543. Recall that last time we carried out a rebalancing, the third during our experiment. Now let’s take a look at how the portfolio structure has changed in the first week of September:

As we can see, the week turned out to be extremely unsuccessful for the crypto market. It can be seen due to the fact that 3 out of 5 coins fell by more than 10%. Overall, our portfolio volume decreased by $1,124, which is 9%. This is the largest drop that we have seen in 3 and a half months of our experiment. This proves once again, that the past 7 days have been some of the worst for the crypto market in the last 3 months.

Crypterium was the only coin to show growth, and quite significant, with an increase of 6.63%. Last week we talked about the fact that the coin is in the oversold zone, and has strong chances of a reversal. Now, the price chart is fixing above the Bollinger Middle Line, after which we can see a new growth spurt up to $0.34.

Bitcoin’s price lost less than all other coins — 8.96%. However, this is still a very large number. After falling by $1,000 during September 3rd, Bitcoin has sharply reduced its volatility. For the remaining 6 days, the chart fluctuated in the range of $10,000 — $10,500. Several times we saw the strait below $10,000 on the chart. However, bulls quickly bought them back. In the coming week, we expect growth to $11,000.

XRP has lost 10.26% in value this week. Last time we talked about the fact that many factors indicate a further decline, and even determined the level to which the chart should come. Our forecast turned out to be correct and we saw a rapid decline. In the coming week, we also expect an increase of about 8% to the level of $0.265.

The fall of Litecoin was even more rapid — the price fell from $64 to $46. After that, we saw a small bounce to $50, where LTC is still located. The structure of the coin’s chart almost completely repeats the movements of Bitcoin, which once again indicates a close connection between these coins. In the next two weeks, there is a possibility of growth to $56 (~ 15%).

Ethereum became the undisputed leader in the fall, losing 17% in a week. At the same time, the maximum decrease reached 37%, when the price dropped from $488 to $308. Such a dramatic drop was due not so much to Bitcoin, but to the SushiSwap scandal. It was after this that many users began to withdraw ETH from this DeFi project and sell coins. ETH is now up 20% from its weekly low, and is likely to continue climbing up to $400.

The portfolio structure has changed quite a bit. Crypterium became the only coin that increased its share, all at once by 2.14%, which is a large indicator. However, none of the coins have gone beyond the established ranges, so for now, we will not rebalance.

The past week was very difficult for the crypto market. We saw a strong decline with total liquidations in excess of $1 billion. Because of this, the price has practically stopped and is in the strongest consolidation. That said, almost all of our coins are heavily oversold, so next week we may see a significant increase in the portfolio.