Crypto market strength.
In our previous commentaries, we stated that we expect the crypto market to continue with the bull run after a shorter consolidation period, and this is exactly what happened. When the negative news like BitMEX criminal charges, Trump coronavirus infection, and FCA ban of crypto derivatives for retail investors don’t crash the market, you can be sure that we are in a bull market.
The crypto market demonstrates true strength, and we expect Bitcoin to decidedly break through the $12,000 mark in the coming weeks. The crypto market continues to be substantially correlated to the stock market (for now) and the latter is traditionally performing well in the weeks before the election. The immense liquidity provided by the central banks also supports the markets and will continue to do so.
Solidum Capital investment strategies performance
September 2020 (returns in USD):
-36.67% Solidum Actio Crypto Growth Strategy (monthly report)
-19.87% Solidum Cautus Crypto Hedge Strategy (monthly report)
After a strong rally from the start of July to mid-August, the market started showing exhaustion signs in the second part of August. September started on a negative note as the crypto market lost 17.5% of its value in the first week.
A sideways movement followed in the remaining days, and the market ended the month with a negative return of -14.9%.