After a volatile price action in the first four months of 2020, the market has been without a clear direction. It gained 8.4% in May, then lost 7.0% in June, delivering a flat performance of 0.8% over the last two months.
Bitcoin is consolidating in the range between $8,900 and $9,900, with occasional fake breakouts on both sides, causing headaches to many traders. Once the actual breakout finally occurs, we can expect a decisive move in either direction.
In June, Solidum Crypto Quant strategy performed on par with the crypto market and its peers. The Solidum Crypto Quant strategy recorded a negative monthly performance of 6.57%, the crypto market ended the month with a loss of 6.98% and our competition (according to the Barclayhedge Cryptocurrency Index – there are eight funds included in the index at the time of writing.) recorded a monthly loss of 6.53%.