September 5, 2023
The Market
The most significant recent news is that the U.S. Securities and Exchange Commission (SEC) has postponed its decision on the spot bitcoin exchange-traded fund (ETF) applications filed by various applicants, including BlackRock, the world’s largest asset management company.
As for what lies ahead for the market, it’s challenging to predict, and no one truly knows for sure. In the short term, the overall sentiment is still negative and the market requires positive news to restore liquidity and halt the decline in altcoin markets. Nonetheless, numerous altcoins are in the oversold zone, potentially leading to price spikes instead of a continuous downward market trend.
The market has endured the longest bear phase, spanning over two years, and the primary question is whether we are at the end of the bear phase or not yet. Many believe that we have by now entered the last phase of the bear market, what the Wall St Cheat Sheet refers to as the “Depression Phase”. This is usually the phase where the interest is all-time low and historically the best time to enter the market.
The upcoming bitcoin halving in eight months and numerous positive developments, including recent favorable crypto-related rulings in the U.S., the upcoming MICAR in Europe, favorable progress in Asian countries like Hong Kong and Japan, and of course the Bitcoin Spot ETF applications by some of the biggest asset management players, all play a role. If macroeconomic conditions improve and inflation in the U.S. continues to decline in the coming months, liquidity will return, increasing the likelihood that the crypto space could exit the longest bear phase sooner rather than later.
Strategies
The bear market, characterized by sideways movement with occasional abrupt price spikes or drops, can be exceptionally frustrating to navigate. Consequently, the selection of bots in our active strategies is designed to safeguard the assets in your wallet while also facilitating upward movements when they occur. Comparing the performance of all Diamond Pigs active strategies to BTC in the last 2 months, it can clearly be seen that the overarching idea has worked well so far with all active strategies outperforming BTC’s performance.
What’s new on the platform?
You can now pay the monthly invoice without needing to log in by simply clicking on the link provided in the invoices.
We have been working on enhancing the user experience when adjusting strategies and adding or removing coins from the “Exclude Your Coins” list. Please find the attached image for the updated appearance of the mentioned screen.
