Daily Crypto Report - 12/09/2023

Comprehensive Daily Report: Analyzing Crypto Sentiment, Strategic Portfolio Allocations, and Key Risk Factors

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Let’s start with today’s report!

We’ll stick to the usual agenda below:

1. Update on my Own Portfolio Allocations

   1. Current Exposure Status

   2. Summary

2. Potential New Trades For my Portfolio

   1. Market Scanning

   2. Commentary on Potential Trades

3. Sentiment and Momentum report

   1. Percentage of coins above their moving averages

   2. Measurement of Current Momentum Extension

   3. Analysis of Bitcoin and Alts performance

   4. Seasonality Charts

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Summary of today’s article:

• Portfolio Performance: My portfolio continues to be fully allocated, showing steady performance over the past month with a notable upswing in the past week.

• Surprising Position: A highlight from today's portfolio is PNT, which has unexpectedly risen by 22% from its opening price. This reinforces the strategy of diversifying investments rather than focusing on concentrated positions.

• Overall Portfolio Exposure: The portfolio remains diversified with a mix of assets including SEI, Bitcoin, OP, PNT, and BAKE, each contributing to the portfolio's performance in its own way.

• Market Sentiment: The current market trends are showing a generally bullish sentiment. This is evident from the high percentage of assets performing above their Simple Moving Averages (SMAs) across different time spans. There's a strong short-term bullish trend, while in the medium to long term, the trends show some signs of uncertainty and fluctuation.

• Final Thoughts: Stay tuned for more updates on my positions and market insights. For more detailed analysis and specific insights, consider joining our newsletter!

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Update on my Own Portfolio Allocations

I think there's a bug in the Binance dashboard, as it's no longer showing the dates. Let's see if they fix it. The first chart represents my yearly P&L since I activated my systems, and the second chart shows the last 30 days of performance. The last 30 days have been relatively dull, except for the past week or so, which has been quite strong. We are still 100% allocated and are letting the market do its thing.

Commentary on Today’s Most Interesting Position in my Portfolio

PNT is definitely a surprise for today. At the time of writing this, it is up 22% from the opening price. It has been ranging for the past few days, and I honestly didn't expect much from it; I wasn’t even monitoring it closely. This is why we place many bets and prefer to spread risk rather than concentrate it in a few positions. When you choose a concentrated position, you assume that this specific position has a higher chance of success than others, which I believe is often a foolish decision. Obviously, there are people who are good at it, but it's rare and requires specific industry knowledge. A diversified portfolio usually performs better in finding the investments that truly pay off.

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My Current Portfolio Exposure

Stay tuned for updates on my positions, scanner insights, and my approach to the market. If you're interested in these articles and want to support our research efforts, consider joining our newsletter!