After fluctuating for nearly two months in its consolidation range and breaking out of its long-term downtrend since 2017, Bitcoin finally made a decisive move in July. Bitcoin gained 23.92% in the previous month and ignited a bullish sentiment amongst the crypto traders.

While the performance of Bitcoin in the past month is considerable, altcoins (measured via the MVIS Digital Asset 25 Index) nevertheless managed to outperform Bitcoin in the previous month, gaining, on average, 37.77% in July alone.

The Solidum Cautus portfolio recorded a positive monthly performance of 18.22%, slightly underperforming the market in the previous month.

Chart 1 - Solidum Cautus Performance (2020-07)

Nonetheless, the Solidum Cautus portfolio included some of the best performing crypto assets, namely Chainlink (+70.02%), Ethereum (+52.69%) and Bitcoin Cash (35.37%). The performance of these assets greatly contributed to the overall monthly performance of the portfolio in July.

Chart 2 - Solidum Cautus Top Performers (2020-07)

By the end of the month, the Solidum Cautus portfolio had 85.6% allocated to active investments and 14.4% to stablecoins. Lastly, by the end of July, the five highest-weighted holdings in the portfolio were Bitcoin, Ethereum, Chainlink, TetherUS and Binance Coin.

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DISCLAIMER: This article is for informational and discussion purposes only and does not constitute a marketing message, an investment survey, an investment recommendation, or investment advice. The article was prepared exclusively for a better understanding of market dynamics.

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