Zignaly Providers Monthly Recap (November)
TL;DR
The current rise in crypto seems to keep going but the market might be at a decision point
After almost two years of shut-down period, the Altcoins Spot Provider is now active again and has doubled its allocation at record time
Another profitable month for all the Crypto Livermore Providers on Zignaly
Intro
November has seen a continuation of the up-move started in mid-October, although a strong drop in mid-December has erased most of the profits generated, highlighting how we are not in a full-blown bull market just yet. Still, the market has clearly been giving signs of strength.
While the previous month’s BTC break of the $35,000 mark has been an important step for the continuation of the current up-move, looks like BTC and the entire market are now at a decision point.
Clearly, the most interesting event for this month has been represented by the continued rally among altcoins and the consequent re-activation of the Altcoins Spot Provider.
So far the rally in alts seems to be sustained, although this will largely depend on what BTC will do next. ETH instead has been somehow weaker, continuing a down-trend vs BTC established for at least two years now.
The most unpredictable asset class at the moment seems to be the altcoins. In fact, while some have them have been showing great gains, and some have even been rallying for this entire year (INJ, RNDR, FET, to name few), I wouldn’t give the continuation of the current rally for granted until BTC shows the “green light”.
Providers
BTC Futures
Despite one of the largest 24-hour drops registered by BTC this year, which as mentioned above has unfortunately erased most of the profits realized during the past month, the BTC Futures Provider has still been able to register a +12.65% for the month, taking the cumulative profits for the year above the 40% mark.
Currently, the price movement appears somewhat uncertain, suggesting that BTC might consolidate or potentially decline in the near future. Nevertheless, BTC seems to also indicate the establishment of a long-term support level. Whether this support will be tested again in the upcoming months is to be seen.
ETH Futures
Less impressive results, although still positive, have been registered by the ETH Futures Provider.
Following the higher volatility in ETH compared to BTC in the past two months, this Provider has carried several positions in the right direction but has been chopped by the market several times, resulting in overall lower profits (+1.97%) if compared to the BTC Futures Provider and even the recently reactivated Altcoins one.
Altcoins Spot Provider
As anticipated in the past month's monthly update, there was a good chance of this Provider becoming active again after a long shut-down period during the crypto bear market, and this has indeed happened at the beginning of December.
While the non-directional volatility remains high until BTC decides what to do next, and while also in the case of this provider, some of the open profits have been erased following the BTC (and altcoins) dump, the results are looking promising, having registered a +4.26% in less than two weeks from its re-activation.
Also interesting has been witnessing the fast and significant influx of capital to this Provider in a short period, which confirms this as one of the favorite products among Zignaly members.
Conclusions
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