Cryptocurrency Heard for the Month: 1 March 2023
As of today, our 2023 Cryptocurreny suggested portfolio is up 32.85% average ROI, versus 34.03%, in February 15, 2023.
Suggested Crypto-currency Portfolio Review
The following were our suggested entry price for:
Bitcoin (BTC): $16,526.92
Dogecoin (DOGE): $0.068
Polygon (MATIC): $0.76
Cosmos (ATOM): $9.33
Ethereum (ETH): $1,194.68
Binance (BNB): $244.97
Polkadot (DOT): $4.30
Tether (USDT): $1.00
Bitcoin (BTC) Current Price: $23,285.1 UP 41%
Dodge Coin (DOGE) Current Price: $0.081 UP 19.12%
Polygon (MATIC) Current Price: $1.22 UP 60.53%
Ethereum (ETH) Current Price: $ 1,620.66 UP 35.65%
Binance Token (BNB) Current Price: $301.71 UP 23.2%
Polkadot (DOT) Current Price: $ $6.45 UP 50%
Cosmos (ATOM) Current Price: $12.45 UP 33.44%
Tether(USDT): Current Price: $1.00 UP 0.00%
As of February 28, 2023, the Crypto suggested portfolio is up on average 32.85% ROI, since January 2, 2023.
In the meantime, Bitcoin and Ethereum Crypto bulls seem to have met bear pause.
It was destined to be a bit of a quieter week on the Bitcoin (BTC) volatility front, and it appears to be that way, so far.
In fact, the Bitcoin Volatility Index is sitting below 60 points, the lowest it’s been in 12 months.
BTC/USDT closed yesterday a tad lower at US$23,490, albeit the bottom-to-crest intraday amplitude of 3.4% indicated a bit of tussle between the bulls and bears as day traders bought in and out, accordingly.
This morning has seen around 1% of further losses to US$23,260; still within the lower end of the 23k to 24k range where BTC is likely to consolidate. Binance’s order book shows some buyers’ support around the US$23,200 price point, which could stem any further losses below here.
The lack of a 2021-level pump must come as a slight disappointment to the tea leaf readers who had been pointing to the fabled golden cross on the technical chart. Theory has it that when the 50-day moving average (MA) moves above the 200-day MA, as it did on the sixth of this month, bitcoin is prepared to skyrocket in value.
In the meantime, there was some positive price action following the latest golden cross, but certainly nothing of the magnitude seen in 2021 or 2019.
It could still happen, or BTC could continue to consolidate in the range we’re seeing now.
Ethereum (ETH) closed 0.5% lower at US$1,633 yesterday and fell another 0.8% to US$1,616 on the ETH/USDT pair this morning, with bulls and bears seemingly evenly matched.
Ethereum coders successfully simulated the upcoming Shanghai hard fork today, in a positive step to the next major protocol upgrade due in the coming weeks. Evidently, this was a bit of an arcane development and failed to have any effect on the market.
Altcoin
One feels like Solana (SOL) dodged a bullet after it suffered yet another blackout on Saturday.
Sure, SOL coin is 14% down week-on-week, but that’s hardly any better or worse than the likes of Polkadot (DOT), Polygon (MATIC) or Avalanche (AVAX).
All major altcoins in the top-20 set are now in the red week-on-week, though Litecoin (LTC) has outperformed with less than 2% cut from its market capitalization.
Litecoin benefitted from a bit of hype when Ordinals, the controversial bitcoin NFT project, came to its ledger. Among the top-100 set, major decentralised finance (DeFi) protocols Synthetix (SNX) and dYdX have pulled ahead, both having added around 8% overnight.
On the downside, layer-1 blockchain Conflux (CFX) suffered a 10% hit to its market cap.
Global cryptocurrency market capitalization dipped 0.5% to US$1.06tn overnight, while total value locked in the DeFi space stayed at a flat US$49.5bn.
Bitcoin (BTC)
Bitcoin has a current price of $23,285.1. BTC has a market cap of $450B and a 24-hour trading volume of $22.3B. The maximum supply is 21 million BTC, with a circulating supply of 19.3M. The highest price ever obtained for Bitcoin was $67,597.72. This all-time high (ATH) was recorded on 11/08/2021. BTC’s price reached an all-time low of about $2.24 on 10/20/2011.
The price of Bitcoin is highly volatile because it is a new asset class and not yet fully understood by the mainstream. The value of Bitcoin can rise and fall very quickly, so it’s essential to stay up to date on the latest news and developments.
Ethereum (ETH)
Ether has a current price of $1,620.66. ETH has a market cap of $198B and a 24-hour trading volume of $6.97B, and circulating supply of 122M. The highest price ever obtained for Ethereum was $4,811.01. This all-time high (ATH) was recorded on 11/08/2021.
ETH’s price reached an all-time low of about $0.44 on 10/20/2015. The price is highly volatile because crypto is a new asset class and not yet fully understood by the mainstream. The value of Ethereum can rise and fall very quickly, so it is essential to stay up to date on the latest news and developments.
Dogecoin (DOGE)
Dogecoin (DOGE) is a meme coin that started in 2013. It was created as a humorous alternative to decentralized digital currencies like Bitcoin and Ethereum.
Almost 10,000 Dogecoins are mined every minute, and there’s no maximum supply – part of the founders’ original joke and one reason the Dogecoin price is low. Similar dog-themed meme coins like Shiba Inu have also gained popularity, and nearly all have an abundant or unlimited supply.
Dogecoin boasts acceptance as payment by Tesla and broad name recognition in pop culture — two essential factors for this crypto asset’s value. Doge retains a thriving niche in the mainstream market and attracts the attention of crypto noobs and serious investors alike.
Binance Coin (BNB)
Binance Coin has a current price of $301.71. BNB has a market cap of $47.6B and a 24-hour trading volume of $383M. The maximum supply is 200 million tokens, with a current circulating supply of 158M. The highest price ever obtained for BNB was $676.51. This all-time high (ATH) was recorded on 05/03/2021. BNB’s price reached an all-time low of about $0.07 on 07/16/2017.
Polygon (MATIC)
Polygon (MATIC) is a cryptocurrency . Polygon has a current supply of 10,000,000,000 with 7,701,069,510.62 in circulation. The last known price of Polygon is 1.71923257 USD and is up 0.72 over the last 24 hours. It is currently trading on 358 active market(s) with $858,150,151.27 traded over the last 24 hours. More information can be found at https://polygon.technology/.
Polkadot (DOT)
Polkadot (DOT) is a cryptocurrency . Polkadot has a current supply of 1,103,303,471.382273 with 987,579,314.957085 in circulation. The last known price of Polkadot is 22.69599238 USD and is down -1.69 over the last 24 hours. It is currently trading on 320 active market(s) with $1,265,041,262.32 traded over the last 24 hours. More information can be found at https://polkadot.network/.
Cosmos (ATOM)
Cosmos (ATOM) is a cryptocurrency . Cosmos has a current supply of 0 with 286,370,297 in circulation. The last known price of Cosmos is 30.84850549 USD and is up 1.65 over the last 24 hours. It is currently trading on 259 active market(s) with $1,061,535,067.41 traded over the last 24 hours. More information can be found at https://cosmos.network/.~
Tether (USDT)
USDT has a current price of $1.00. Tether has a market cap of $70.9B and a 24-hour trading volume of $31.6B. There is no maximum supply, with 70.9B USDT currently in circulation. The highest price ever obtained for USDT was $1.10. This all-time high (ATH) was recorded on 12/07/2017. Tether’s price reached an all-time low of about $0.83 on 06/03/2015.
Investment Diversification
Before investing in any financial vehicle, please note diversification is key to any good investment strategy, and this holds true, when you are investing in cryptocurrency. Do not put all your money in Bitcoin, for example, just because that is the name you know or most hear on the street.
There are thousands of options, and it is better to spread your investment across several currencies. Hopefully, the following articles in the subject will help you make better investment decisions, when investing in Cryptocurrencies, which are in nature a speculative investment.
Until next article, wishing all of you wealthy trading!
Disclosures: The cryptocurrency market is highly volatile, so be prepared for ups and downs. Investors may experience dramatic swings in prices. Investors, who do not have high risk tolerance, cryptocurrency might not be a wise choice of investment. Cryptocurrency is all the rage right now, but investors should remember, it is still in its relative infancy and is considered highly speculative. Investing in something new comes with challenges. Investors, who plan to invest in Cryptocurrency should do their own research, and invest according to their risk tolerance.
Tags: Asset Management, Automated Trading, bitcoin, Cryptocurrency, mam, Money Management, Multi Account Management, PAMM
