The Momentum Fund
It has been a bit of a roller coaster month for Bitcoin and The Momentum Fund. The fund dropped by 10% in value in the first two weeks of the month only to recover more than 20%, eventually finishing the month with a +2% gain. It continues to hold a return of +140% since fund inception in Feb 2019.
With the early pullback in the market this month some orders actually breached the 100 DMA last week (black arrow on the chart below). This is the closest Bitcoin's price has come to the 100 DMA since April. Nonetheless, Bitcoin has seen solid gains over the past 72 hours and as a result, the Momentum Fund remains with its maximum Bitcoin allocation.
As shown in the chart below, at the time of writing BTC is sitting at $10,810, sitting above both the 100 DMA ($9858) and 200 DMA ($7164). Therefore, all signs point towards continued positive Bitcoin momentum. You can see the full Momentum Fund strategy here.
https://i.redd.it/m224si9wmkh31.png
The Community Fund
Our newest fund pools the community's views on which two coins will perform the best over the subsequent thirty days. This month BTC and GVT were chosen to make up the fund but unfortunately due to GVT's price decline no profits were made. It will be interesting to see what the September allocation brings. Please be sure to vote for which coin you believe will perform the best in the month of September at the link below.
Voting for the September allocation is now open and can be found here.
Growth, Intrepid, Balanced & Defensive Funds
Our risk-staggered funds continue to perform strongly. This month the Balanced & Defensive funds were among the top performers of the platform largely due to their stable coin allocation, which provides a hedge against drops in the market. Reallocation of all funds has now occurred. Most funds will maintain a decent allocation to Bitcoin and the high market cap alts, while some smaller altcoins will get exposure due to important upcoming events this month (such as Lisk and Enigma).
Thanks to everyone who continues to trust their funds with us, and cheers to another successful month!
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