After fluctuating for nearly two months in its consolidation range, as well as 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 with 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 Crypto Quant Strategy recorded a positive monthly performance of 19.68%, slightly underperforming the market in the previous month.

Chart 1 - Solidum Crypto Quant 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 Crypto Quant Top Performers (2020-07)

Compared to its peers, however, the Solidum Crypto Quant Strategy outperformed its competition (according to the BarclayHedge Cryptocurrency Index – there are 11 funds included in the index at the time of this writing), which recorded a monthly performance of 12.16% during the previous month.

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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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