Our results
REFERENCE ACCOUNT 100,000 USDT
- October 2024
- September 2024
- August 2024
- July 2024
- June 2024
- May 2024
- April 2024
- March 2024
- February 2024
- January 2024
October 2024
+1,65%
Historical Trends and the Future of Cryptocurrencies in the Fourth Quarter of 2024
In October 2024, signs began to emerge in the cryptocurrency market suggesting that Bitcoin and other digital currencies could experience significant growth, similar to past instances. Experts pointed out that the upcoming elections in the United States and the recent halving could have a substantial impact on the price of Bitcoin. Historically, halving has led to an increase in value, supported by data from analytical platforms showing that in the past, Bitcoin’s price increased by more than 50% in the fourth quarter up to six times, with some years seeing a rise of as much as 168%.
Cryptocurrency experts emphasized the lack of solutions to the problems of rising national debt from major political forces, creating favorable conditions for Bitcoin as an alternative safe haven during times of economic uncertainty. While the market attracted attention with its price movements, experts warned that a price increase is not always the most important aspect; rather, the growing interest of individual investors in cryptocurrencies is key.
Another factor that could influence the future of cryptocurrencies was the monetary policy of the central bank. Lowering interest rates could have a positive impact on the value of Bitcoin if it is possible to stabilize the economy without a recession. Experts expressed optimism that Bitcoin could perform similarly to traditional financial markets, which would strengthen its position in the global market.
In the previous third quarter, the cryptocurrency market faced a bearish trend, consistent with historical patterns. The index reflecting market sentiment fell to a level indicating prevailing concerns.
As the U.S. elections approached, the cryptocurrency market began to show signs of stabilization. Historical data suggested that the fourth quarter is typically a strong period for Bitcoin, which has averaged a price increase of over 90% in the last decade.
Despite experiencing volatility, Bitcoin surpassed the price of $66,000 in mid-October 2024, signaling growing investor confidence. Cryptocurrency-focused investment funds saw a record influx of capital, with Bitcoin ETFs alone attracting hundreds of millions of dollars in a single day. Ethereum also exhibited positive trends, with its price stabilizing around $2,600.
By the end of October, Bitcoin exceeded $69,000, sparking optimism in the market. This upward trend was also evident in alternative cryptocurrencies such as Solana and Dogecoin, indicating that investors were beginning to trust the entire cryptocurrency market once again. Experts considered that Bitcoin might be exerting pressure on government budgets by presenting an alternative to traditional investments like government bonds.
Analysts agreed that upcoming events, including the regulation of stablecoins and acquisitions of payment platforms, could have far-reaching implications for the cryptocurrency ecosystem. Data from analytical tools also indicated an increase in wallets focused on accumulating Ethereum, reflecting a growing interest in long-term investments.
As the cryptocurrency market entered the end of 2024, questions arose regarding its future. Based on historical data and current trends, it appeared that the fourth quarter could be a period of strong growth and greater stability, potentially presenting opportunities for investors in the digital asset space.
September 2024
+1,4%
At the beginning of the month, Bitcoin reacted to the announcement of a decrease in interest rates by the Federal Reserve, which led to a slight increase in its value. However, the current ratio of Bitcoin’s price to the S&P 500 index suggested a potential decline.
The following days showed that Bitcoin still could not break through the stubborn resistance level of $70,000. Market speculation, however, indicated that the cryptocurrency might maintain its bullish momentum and even seemed poised to reach a new all-time high in the near future. After an initial sell-off, Bitcoin attempted to surpass the $60,000 level again, which sparked interest among investors.
While central banks invested in gold in record volumes, Bitcoin remained an increasingly attractive alternative. The largest “cup and handle” pattern was forming on the Bitcoin chart, which drew significant attention and triggered speculation about a possible massive reversal.
Historical analyses suggested that Bitcoin could experience a significant breakout by the end of the month, and investors were preparing for a potential price boom. Additionally, Dogecoin showed signs of doubling its value, which could ignite a new season of meme coins.
As days went by, the latest data from the U.S. labor market stirred the market. Bitcoin tested levels around $54,000 for the second time, while Ethereum dropped to a monthly low. Analysts speculated whether the worst was already behind us or if we were in for an even deeper decline.
Gradually, Bitcoin showed signs of recovery, and analysts began pointing out the first higher low, signaling possible stabilization. When Bitcoin surpassed $60,000 again, the market began to wonder if we had entered a full bull market.
The following days brought news of the expected reduction in interest rates by the Fed, leading to further speculation about Bitcoin’s reactions. After the rate cut, Bitcoin reached $62,600, although warnings of a potential decline in U.S. stocks began to emerge.
In the days that followed, Bitcoin approached $64,000, with key price levels becoming crucial for further development. There was euphoria in the stock market, and many investors considered the Fed’s decision to be correct. While the Ethereum ETF showed a positive turnaround, overall outflows from the market continued.
By the end of the month, Bitcoin found itself on the brink of growth, as historical cycles indicated an impending price increase. The weekly RSI suggested that Bitcoin could soon soar to $85,000. Following the rate cut, there was an influx of capital into Bitcoin amounting to $321 million.
Bitcoin also focused on the target price of $78,000, aided by a Chinese stimulus package that raised market expectations. Additionally, news of the release of the Binance founder from prison added to the momentum of discussions about the future direction of the market.
In the closing days of the month, Bitcoin indicated that it was preparing for a great end to the year, although estimates suggested that it would likely not reach the $70,000 level as quickly as originally expected.
For the Algomoneo algorithm, however, September was not an exceptional month, either positively or negatively. With standard performance, the algorithm achieved a result of +1.4%, indicating a not very high rate of opportunities. This aligns with the fact that historically, September has not been the most favorable month for cryptocurrencies.
Introduction and General Market Overview
August 2024 marked the second-worst month of the year for the cryptocurrency market, primarily due to a series of key events that triggered significant volatility. The month was characterized by massive sell-offs and liquidations amounting to approximately $17 billion, causing considerable turbulence across the market.
Dramatic Drop in Bitcoin Price
One of the most notable events was the drop in Bitcoin’s price following a move by the U.S. government, which transferred nearly 30,000 BTC, valued at over $2 billion, to new addresses. This action sparked speculation about a potential sale of these assets, further contributing to Bitcoin’s price decline.
Market Reactions
Reactions to this event were mixed. Some analysts warned that this move could negatively impact the relationship between the government and the cryptocurrency sector, while others suggested it could bring long-term benefits. Despite what happened with Bitcoin, the market showed signs of recovery, supported by influential figures like Robert Kiyosaki, who remains optimistic about the future growth of cryptocurrencies.
Performance of Other Cryptocurrencies
Ethereum (ETH) and Solana (SOL) showed mixed results in August. Ethereum struggled with a price decline but remains in a long-term growth trend, while Solana experienced an upward trend thanks to strong activity on decentralized exchanges running on its blockchain.
Algomoneo’s Performance
Despite these adverse conditions, Algomoneo posted a relatively low loss of 3.9%. This performance is remarkable, especially considering the catastrophic impact the events had on the broader market. Algomoneo managed to withstand greater pressure, demonstrating its resilience and ability to maintain stability even in such a turbulent period. This result is attributed to a robust foundation and a specific market strategy that shielded it from larger losses.
Conclusion
August 2024 was full of challenges and opportunities for the cryptocurrency market. While political and regulatory events brought short-term volatility, strong fundamental support and ongoing technological development suggest that the market has the potential for further growth in the coming months.
August 2024
– 3,9%
Introduction and General Market Overview
August 2024 marked the second-worst month of the year for the cryptocurrency market, primarily due to a series of key events that triggered significant volatility. The month was characterized by massive sell-offs and liquidations amounting to approximately $17 billion, causing considerable turbulence across the market.
Dramatic Drop in Bitcoin Price
One of the most notable events was the drop in Bitcoin’s price following a move by the U.S. government, which transferred nearly 30,000 BTC, valued at over $2 billion, to new addresses. This action sparked speculation about a potential sale of these assets, further contributing to Bitcoin’s price decline.
Market Reactions
Reactions to this event were mixed. Some analysts warned that this move could negatively impact the relationship between the government and the cryptocurrency sector, while others suggested it could bring long-term benefits. Despite what happened with Bitcoin, the market showed signs of recovery, supported by influential figures like Robert Kiyosaki, who remains optimistic about the future growth of cryptocurrencies.
Performance of Other Cryptocurrencies
Ethereum (ETH) and Solana (SOL) showed mixed results in August. Ethereum struggled with a price decline but remains in a long-term growth trend, while Solana experienced an upward trend thanks to strong activity on decentralized exchanges running on its blockchain.
Algomoneo’s Performance
Despite these adverse conditions, Algomoneo posted a relatively low loss of 3.9%. This performance is remarkable, especially considering the catastrophic impact the events had on the broader market. Algomoneo managed to withstand greater pressure, demonstrating its resilience and ability to maintain stability even in such a turbulent period. This result is attributed to a robust foundation and a specific market strategy that shielded it from larger losses.
Conclusion
August 2024 was full of challenges and opportunities for the cryptocurrency market. While political and regulatory events brought short-term volatility, strong fundamental support and ongoing technological development suggest that the market has the potential for further growth in the coming months.
July 2024
+ 5,5%
Introduction and General Market Overview
At the beginning of July, as part of the Algomoneo project, we focused our attention on the price development of Bitcoin, which continues to exhibit high volatility. During the month, Bitcoin moved within a range that some analysts might describe as a “crab market,” a situation where the price moves within a relatively stable channel. This channel, spanning between approximately $50,000 and $70,000 per BTC, may seem wide, but its behavior provides us with key information for strategic decision-making.
Since mid-February, we have observed that Bitcoin entered a slightly declining trend characterized by the gradual formation of lower lows and lower highs. This trend, although not too pronounced, indicates a certain caution among market investors and suggests potential short-term risks for growth strategies. These movements reflect the high sensitivity of the market to external signals, making it essential for us to adapt our strategies to these conditions.
Market Dynamics and Their Impact on Algomoneo
Throughout July, the market was influenced by several significant events that caused rapid changes in investor sentiment. At the beginning of the month, market sentiment was negatively impacted by sales from German authorities, who were forced to sell bitcoins seized in criminal proceedings. This selling pressure, coupled with the anticipated market downturn due to asset distribution from the Mt. Gox exchange, caused a short-term drop in Bitcoin’s price below $50,000.
Despite these unfavorable conditions, the market managed to recover, thanks in part to positive news such as the failed assassination attempt on Donald Trump, perceived as a pro-crypto candidate. Following this incident, Bitcoin climbed back to higher levels, supported also by his participation in the annual Bitcoin conference in Nashville, where he presented several promising proposals for the cryptocurrency industry.
Results of Our Strategies and Their Adaptation to the Market
At Algomoneo, we have always aimed to develop and implement strategies that are flexible enough to adapt to current market conditions. Our algorithmic strategies are primarily growth-oriented and designed to maximize returns in a rising market. However, in July, the market faced a slight decline, which limited the potential of our strategies, necessitating ways to minimize risks and optimize performance.
Detailed Analysis of Individual Strategy Performance
Growth-Oriented Strategies
Performance: Our growth algorithms demonstrated solid performance in July, although the overall return was lower than it would have been in a rising market. With a total gain of 5.1%, we were able to maintain a positive outcome despite adverse market conditions. This testifies to the robustness and adaptability of our strategies.
Optimization: In response to market conditions, we made several key adjustments to the algorithms, including reducing risk exposure and placing a greater emphasis on managing volatility. This allowed us to minimize losses during short-term declines.
Non-Vector Strategies
Accumulation Process:
Purchases: Throughout the month, we gradually purchased Ether at lower price levels, allowing us to optimize our average purchase price.
Risk Management: Given the market volatility, we carefully managed the position to minimize risks associated with unexpected drops. Our cautious tactic enabled us to achieve a profit despite market fluctuations.
Outcome: After an increase in market price, we sold the entire position, realizing a handsome profit. This success demonstrates our expertise and ability to effectively manage the portfolio even in challenging market conditions.
Macroeconomic Situation and Its Impact on Algomoneo
Current market development is also significantly influenced by global macroeconomic factors. The U.S. economy is facing challenges that could affect further developments in the crypto market, while the situation in Japan and geopolitical tensions in the world represent other variables that need to be closely monitored.
Plans for the Upcoming Period
Considering the current macroeconomic developments and the crypto market situation, we will continue to closely monitor the market in the coming weeks and months and prepare for possible scenarios.
Change and Selection of Cryptocurrencies:
Portfolio Structure: We will continue to adapt our portfolio structure, focusing on a more careful selection of cryptocurrencies we trade. This step will enable us to better prepare for potential changes in the market environment.
Portfolio Reconstruction: If the bull market thesis is invalidated, we are prepared to quickly rebuild our portfolio and adapt to new conditions. This includes the possibility of shifting a part of the portfolio into more defensive strategies, which are less sensitive to market fluctuations.
Conclusion and Summary
July was a challenging month for Algomoneo, but thanks to the robustness of our strategies and careful risk management, we achieved a positive outcome. With a total gain of 5.5% for July, we demonstrated our ability to effectively adapt to market conditions and create value even in difficult times.
Long-Term Perspective
We believe that our strategies and approach to portfolio management have well-prepared us for future challenges. We will continue to monitor market developments, adapt our strategies, and seek opportunities for growth. It is important to remain flexible and ready to respond to changes, which is key to long-term success in the crypto market.
June 2024
+ 3,4%
Analysis of Current Events in the Cryptocurrency Sector – June 2024
Distribution of Stolen Assets to Mt. Gox Clients
At the end of June 2024, specifically on June 24th, representatives of the bankrupt bitcoin exchange Mt. Gox announced that they would begin distributing stolen assets to their clients in the first week of July. These funds were lost during a hacking attack in 2014. It was expected that this move would trigger increased selling pressure in the bitcoin market, as investors who receive assets worth significantly more than their original investment might be motivated to realize profits. This development led to a significant market downturn, which partially manifested in the last days of June. However, Algomoneo managed to capitalize on these market fluctuations, resulting in a 3.4% profit in June 2024.
Potential Approval of an ETF for Solana
At the end of June 2024, Vaneck submitted an application for the approval of the first ETF focused on the cryptocurrency Solana. The market reaction was positive, leading to an 8% increase in Solana’s price. Although this application was welcomed, the likelihood of this ETF being approved was considered low. Solana, with its smaller market capitalization compared to Bitcoin or Ethereum, faced concerns about potential price manipulation. Analysts expected that ETF approval might be realistic only in 2025, possibly after a change in the leadership of the SEC.
Financial Troubles of Curve’s Founder
In June 2024, issues resurfaced for Curve’s founder, Michael Egorov, who faced the liquidation of his CRV tokens used as collateral for loans in the decentralized finance (DeFi) sector. This incident led to a drop in CRV’s value by up to 30%. Egorov’s financial troubles and the lack of intervention from prominent figures in the crypto world underscored the critical importance of rigorous risk management in the cryptocurrency sector.
Summary
In June 2024, Algomoneo successfully navigated the dynamic events in the cryptocurrency sector that impacted the market. By being able to respond to market fluctuations and volatility, Algomoneo recorded a 3.4% profit. This success illustrates the effectiveness of our algorithm in optimizing investment strategies in an environment of rapid and unpredictable market changes.
May 2024
+ 3,5%
Analysis of Current Events in the Cryptocurrency Sector – May 2024
Positive News for FTX Victims
In May 2024, victims of the bankrupt exchange FTX received positive news when the exchange announced that it had gathered enough funds to compensate its clients. With over $16 billion, significantly exceeding the required $11 billion, the exchange planned to pay creditors more than 100% of their original deposits. This turnaround occurred after the liquidation of the company’s remaining assets.
Algomoneo quickly analyzed the market sentiment associated with this announcement and recognized that the increased selling pressure from the expected payouts could affect the price of bitcoin. Based on this analysis, the algorithm adjusted its strategic positions to profit from short-term price fluctuations, contributing to a 3.5% profit. It also optimized its portfolio by increasing exposure to volatile assets that could benefit from subsequent market movements.
Turnaround in Grayscale Bitcoin Trust
Grayscale Bitcoin Trust saw a turnaround in the first half of May after 78 days since the last inflows. This turnaround was attributed to reduced fees and the exhaustion of selling pressure from the previous period when the Trust had to sell bitcoins due to the transition to a public ETF. Algomoneo carefully monitored this turnaround and adjusted its positions in bitcoins and similar assets. As a result, the algorithm avoided the previous selling pressure and took advantage of the opportunity to buy assets at lower prices. It implemented dynamic trading strategies that profited from the volatility associated with the Trust’s transition to a public ETF.
Record Profits for Tether
Tether announced a record profit of $4.52 billion for the first quarter, with most of the profit coming from investments in bitcoin and gold, and the rest from holding US Treasury bonds. This performance reflects the efficiency in optimizing reserves.
Rise in Memecoins
In the second half of May, the value of memecoins like PEPE, FLOKI, and MOG increased due to the influence of @TheRoaringKitty and the rise in GameStop (GME) shares. This growth led to a price increase of up to 30% for memecoins. Algomoneo identified this rise and quickly adjusted its trading strategies to take advantage of short-term volatility. Algomoneo diversified its portfolio to minimize risks associated with a potentially overheated market while maximizing profit opportunities from these fluctuations.
Summary
In May 2024, Algomoneo demonstrated its ability to adapt to dynamic market conditions and effectively leveraged key events to achieve a 3.5% profit. Thanks to sophisticated analytical tools and a quick response to market changes, including the payouts to FTX victims, the turnaround in Grayscale Bitcoin Trust, Tether’s record profits, and the rise in memecoins, Algomoneo optimized its investment strategies and maximized its returns even in an unpredictable environment.
April 2024
– 5,4%
In April 2024, the cryptocurrency market found itself at the epicenter of several key events that significantly affected its dynamics and volatility. At the beginning of the month, Sam Bankman-Fried, the founder and former CEO of the bankrupt exchange FTX, was sentenced to 25 years for extensive fraud and conspiracy. This verdict brought some relief to investors, but resolving the complex situations regarding compensation for losses after the exchange’s collapse still posed a challenge.
In April, Hong Kong also decided to approve the first exchange-traded funds (ETFs) focused on Bitcoin and Ethereum, aiming to establish itself as the main Asian hub for cryptocurrencies. This move had the potential to attract new investors due to more regulated and potentially less risky investment options. However, competition from Dubai, which already holds a strong position in the cryptocurrency sector, suggests that Hong Kong will have to work intensively to gain and maintain its dominant position.
Another significant event was the lawsuit filed against Uniswap Labs by the U.S. Securities and Exchange Commission (SEC). This lawsuit, whose details were still limited, aimed to regulate decentralized exchanges and digital assets. The case sparked discussions about the balance between user protection and technological advancement in the cryptocurrency space, with concerns about possible restrictions on access to liquidity and innovation in this rapidly developing sector.
The most significant factor that dramatically affected the market in April was the escalation of the conflict between Iran and Israel. Following drone and missile attacks, which led to significant geopolitical uncertainty, there was an immediate and substantial drop in cryptocurrency prices. Bitcoin, for example, fell from $67,800 to $61,300. This decline was accompanied by even deeper losses in altcoins, which saw drops of up to 50%. This sell-off was caused not only by fears of a possible expansion of the conflict but also by a broad market sell-off that affected a wider range of cryptocurrencies. While the price of Bitcoin remained relatively stable, albeit with a slight decline, altcoins, often less stable and prone to larger fluctuations, experienced dramatic losses. This volatility was caused by both the immediate reaction to geopolitical events and investor nervousness, who sought to minimize risk in an uncertain environment.
Another factor contributing to market chaos was the recent Bitcoin halving. This halving reduced rewards for miners and slowed the supply of new Bitcoins to the market. Although this step has the potential to positively affect the price of Bitcoin in the long term due to reduced inflation, it brought only a slight decline in the short term. The market reacted with volatility, reflecting the fact that “SELL THE NEWS” events often do not have an immediate positive impact as expected.
As a result of this unfavorable combination of geopolitical events and high market volatility, Algomoneo decided to exit open positions and suspend trading. This step was necessary to protect capital and minimize potential losses in a turbulent market. As a result of these measures, Algomoneo recorded a loss of 5.4% in April. The suspension of trading was a strategic decision aimed at protecting the investment portfolio from further fluctuations and stabilizing trading operations in unclear and unstable conditions.
In the event of a losing month, nothing changes for you, our users. Rewards remain available as usual, thanks to our reserves and our long-term successful trading strategy. Losses are a common occurrence in trading, but Algomoneo’s performance significantly and consistently surpasses any losses over the long term. Our strategy and meticulous risk management ensure that, despite occasional fluctuations, we remain firmly on track to achieving your goals.
March 2024
+ 6,2%
March 2024 was a period of significant events and changes for the cryptocurrency markets, impacting their dynamics. This month brought key factors shaping the markets, including regulatory changes, technological innovations, market movements, and security incidents.
The European Union adopted new regulations targeting cryptocurrencies, specifically focusing on cryptocurrency service providers and their transparency. The new regulations require companies providing cryptocurrency services to have robust anti-money laundering (AML) processes and offer greater investor protection. In the USA, the Securities and Exchange Commission (SEC) continued to enforce stricter rules for stablecoins and blockchain projects, aiming for greater regulation and financial market stability.
Technological updates included the ongoing transition of Ethereum to Ethereum 2.0 with an emphasis on Proof-of-Stake (PoS), significantly impacting network performance and reducing transaction costs. Bitcoin also increased support for its Lightning Network, ensuring faster and cheaper microtransactions, contributing to broader Bitcoin adoption for everyday payments.
Markets experienced a volatile month, with Bitcoin facing fluctuations due to regulatory news and market sentiment. Developments in macroeconomic news and regulatory measures led to price fluctuations. Ethereum responded positively to progress in Ethereum 2.0, positively affecting its market value and interest in the project.
In the area of partnerships and integration, Google announced a new strategy to integrate blockchain technologies into its cloud services, indicating growing interest from tech giants in blockchain. Other major banks and financial institutions also announced plans to implement blockchain solutions, boosting confidence in the technology and contributing to wider cryptocurrency adoption.
Security incidents included cyberattacks on several major cryptocurrency exchanges and projects, raising concerns about the security and integrity of platforms. These incidents led to discussions about the need for increased security measures and better protection of user data.
March 2024 was a month that brought significant changes and events to the cryptocurrency markets. Regulatory news, technological innovations, and market dynamics had a far-reaching impact on the sector, which continues to respond to changing conditions and new challenges. This month also saw the Algomoneo project achieve a significant success, reaching a profit of 6.2%. This growth indicates positive development within the project and its ability to adapt to the dynamic cryptocurrency market.
February 2024
+ 6,3%
In February 2024, the cryptocurrency market was characterized by several key events that significantly influenced its dynamics. Despite February being the shortest month of the year, the markets experienced significant movements that had a direct impact on trading results.
The month began with Bitcoin consolidating around the $43,000 level. However, it soon became apparent that demand for Bitcoin was not only stable but growing. This growth was primarily driven by increased demand from ETF funds. Throughout February, most of these funds, except for GBTC, aggressively accumulated Bitcoin. This led to a continuous price increase, surprising many analysts who had expected a more cautious approach. Bitcoin ETFs experienced only one day in February where sales exceeded purchases, indicating extreme interest in this cryptocurrency.
Another significant event in February was Uniswap’s announcement, the largest decentralized exchange, about its plan to overhaul its project governance system. According to this proposal, UNI token holders who stake or delegate their tokens would be entitled to rewards from the project’s revenues. This move sparked speculation that Uniswap might face increased regulation from the SEC, which often targets tokens that resemble securities. Nevertheless, this step suggests that Uniswap believes in its strong position against the SEC, which could have broader implications for the entire decentralized economy.
At the end of the month, Ethereum attempted to strengthen its position against Bitcoin on the ETH/BTC pair, with the price climbing to the 0.06 level. However, this attempt met strong resistance, leading to a quick rejection and a drop to the 0.056 level. Meanwhile, Bitcoin continued its growth, with its price rising above $59,000. Despite this setback, Ethereum’s price remains at its highest level since March 2022, trading around $3,700. Market confidence is growing with the potential approval of a spot ETF for Ethereum, which could attract more investors.
Following these events, Algomoneo managed to achieve a 6.3% profit in February. This result reflects Algomoneo’s ability to quickly respond to market changes and seize opportunities that arose during the sharp increase in Bitcoin demand and strategic movements in the altcoin market. Algomoneo thus confirmed its ability to effectively navigate market volatilities and achieve positive results even in challenging conditions.
January 2024
+ 7,5%
In January 2024, the cryptocurrency markets were at the center of turbulent events that significantly influenced their dynamics. At the very beginning of the month, speculation from the analytical portal Matrixport suggested that the U.S. Securities and Exchange Commission (SEC) might reject all applications for spot Bitcoin ETFs. This news caused an immediate panic sell-off, pulling Bitcoin’s price down by more than 10% in less than two hours.
Despite these concerns, the SEC ultimately approved the trading of 11 spot Bitcoin ETFs on U.S. exchanges the following week. This historic step marked a significant milestone not only for Bitcoin but for the entire cryptocurrency sector, as it opened the door to a new wave of retail and institutional investors. Bitcoin’s price responded with a sharp rise, reaching up to $49,000 before some profit-taking occurred.
After this dramatic rise, the market calmed down, and Bitcoin began consolidating in the $41,000 to $43,000 range. The euphoria around the ETF launch gradually subsided, and Bitcoin’s price returned to levels seen at the beginning of December. However, the market remains optimistic, especially regarding the potential approval of a spot ETF for Ethereum, which could significantly impact the price of this second-largest cryptocurrency. Standard Chartered Bank even suggested that the approval of this ETF could potentially double Ethereum’s price, although Ethereum does not have as strong a position as Bitcoin, and approval remains uncertain.
Despite all these turbulences, Algomoneo managed to achieve a 7.5% profit in January. This result clearly demonstrates Algomoneo’s ability to quickly adapt to changing market conditions and effectively capitalize on opportunities that arose during the month. Thanks to strategic decisions, Algomoneo not only maintained stable growth but also effectively navigated the challenges brought by the turbulent start of the year.
Our Results:
FAQ
Earn a fixed reward of up to 2.1% monthly with our unique advanced automated trading system ALGOMONEO.
We are ready to help you
Need Any Help?
Algomoneo works closely with the company RapidScale Agency s.r.o., ID: 217 75 133, with registered office at Sokolovská 4/41, Karlín, 186 00 Prague 8, registered in the commercial register kept at the Municipal Court in Prague, section C, insert 406371, which operates the website www.cryptonow.biz (hereinafter referred to as “Partner“), and which provides professional and personal assistance at every step of registration. The Partner will be your guide throughout the entire process, from the initial registration to the final confirmation of all the necessary formalities. Thanks to the personal support of the Partner, the complete registration process will go smoothly, and you will receive answers to all questions that may arise during the process. With a Partner, you don’t have to worry about complications; together with him, we will ensure that your entry into the world of investments is as simple as possible and adapted to your needs.