Health, Wealth, and Happiness |
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"Spend each day trying to be a little wiser than you were when you woke up." - Charlie Munger |
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| Howdy investors!
If you need more time to stay on top of new crypto investments, you can use a professionally managed fund. Today, we're looking at the Best Performing Cryptocurrency Funds for 2024 to help you make decisions for the year ahead.
Also: bitcoin is back, baby! The price of BTC has increased 30% over the past two weeks. Barron's thinks this might begin a more significant rally; read on to find out why.
While markets have been moving consistently higher in 2023, the market share of Binance has been dwindling. We cover the reasons below, from regulatory concerns to losing over a dozen executive leaders.
And now, let's jump into the newsletter! |
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Best Performing Cryptocurrency Funds for 2024 by Matthew Du |
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| Crypto funds have been part of the overall ecosystem since the first bitcoin fund was launched in 2013. Currently, over 840 cryptocurrency funds have been established, and there doesn’t seem to be any signs of that slowing down.
And that growth is happening for a good reason. Crypto funds experienced unprecedented investor interest at the peak of the crypto market in Q4 2021, with a total AUM of $62.5 billion, but took a significant hit in 2022 due to a severe bear market. The total value of assets held by crypto funds declined by 66% to $20 billion in 2022, and inflows decreased by 95% compared with 2021. However, there are signs of resurgence as of this writing, with major crypto funds rallying by up to 50%.
This article will cover these funds, including their health and prospects, with our editorial ratings for the best crypto funds in 2024.
Learn which crypto funds are providing the best value >> |
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| Next BMJ Token Drop this Wednesday, November 1!
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These tokens can be redeemed for exclusive crypto wearables. You will only find this exclusive merch here, including apparel and collectible office items. New Premium members: If you haven't already, be sure your MetaMask wallet is connected by November 1 to receive your next delivery of BMJ tokens.
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| | | Must Read Today's most important stories for crypto investors. |
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| Investor Takeaway: Bitcoin and other cryptocurrencies experienced a rise, leading to a 30% rally in bitcoin over the past two weeks. Many traders watch technical indicators, such as the "golden cross," signifying a potential bull market, occurring when the 50-day moving average exceeds the 200-day moving average. This crossover is seen as a bullish signal.
Investors might consider the formation of a "golden cross" as a buying opportunity, anticipating further price appreciation. However, it's essential to combine this technical indicator with other forms of analysis, including our investor scorecards. |
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| Investor takeaway: Despite the resurgence in cryptocurrency prices, the market share of crypto exchange Binance has declined from 74% in December 2022 to 50% in October. This decline is attributed to executive exits and legal challenges from regulatory bodies such as the CFTC and the SEC. These developments have led to reduced trading activities on the exchange, with some trading firms scaling back due to the associated risks.
Considering these executive exits and regulatory challenges (along with the decline in market share and trading activity on the platform), investors may want to consider alternative platforms. (Note, however, we're still hodling our BNB.) |
| Investor takeaway:This brief X thread looks at the historical patterns from bitcoin prices in the runup to the "Halving" and subsequent post-Halving price action. It highlights the potential rallies, retracements, and accumulation phases seen around prior Halving events.
Be aware of the historical patterns and market phases when planning your investment strategies around the Halving. Remember that the future may look different from the past! |
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| | | Long-Term Wealth $1K invested at today's market prices |
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| This asset | invested 5 years ago | is now worth | | Bitcoin (BTC) | $1,000 | $5,441 | | Ethereum (ETH) | $1,000 | $4,196 | | Uniswap (UNI)* | $1,000 | $734 | | BNB Chain (BNB) | $1,000 | $16,578 |
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| Note: The future may look different from the past. Please invest carefully. * As UNI is less than five years old, we calculate from the launch date (Sep 2020). |
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| | ICYMI In Case You Missed It |
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| Blockchain Basics Explain Like I'm 5 |
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| What is FOMO? The Quick Guide for Crypto Investors |
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| Bitcoin Market Journal is a daily newsletter that makes you a better crypto investor. It's created by John Hargrave, Steve Walters, Gerald Jackson, Anatol Antonovici, Matthew Du, Daniel Joel, and Preetam Kaushik.
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