October was a month of good results for Transfero’s asset management strategies. Considering the overview of the month separately, all strategies were valued. The TSAG Advanced rose 9.68%, while TSAG Libra gained 10.55% and TSAG Conservative rose 3.01%.
The strategies also continue to show positive results year to date. By the end of October, the TSAG Advanced was up 97.36%, TSAG Libra, 81.17% and TSAG Conservative, 35.98%. The Ibovespa appreciated 23.30% until November 10.
Token LINK stands out in October
Analyzing the market as a whole, in October, one of the highlights was the LINK token. According to Transfero’s analysis, there is a negative correlation in the month considering the bitcoin and the LINK token. The project has recently gained notoriety with its innovative idea of creating a data connection between users from different blockchains
LINK is an ERC-20 token, developed by the company Chainlink , from the CEO Sergey Nazarov. The asset was created to remunerate network node operators for formatting data to be accepted by a blockchain and by acquiring off-chain data.
Although the value of the correlation with Chainlink was significant compared to the other statistics, it should be noted that the LINK token only gained notoriety in early May 2019. At the time, its volume of transactions increased considerably.
Expectation of high for bitcoin
On the other hand, the bitcoin, which had been trending short/medium-term decline over the last four months, has now been working within a bullish flag. After being able to break the US$ 7,650 at the end of October, the price reached strong purchasing leverage at US$ 7,400. This led the bitcoin quickly to the US$ 10,400 level, in which the cryptocurrency found strong resistance. Thus, high volume of purchase suggests a reversal of move and a resumption of the long-term bullish trend.
According to Transfero’s analysis, after reaching US$10,400 and breaking the bullish flag, a correction to the levels of US$ 8,600/8,700 would be consistent to resume the hike. The following strong resistance is now at the levels of US$ 10,400, in which there is a large volume of trading in the VPVR (Volume Profile Visible Range), as well as in the level of US$ 12,000 and later US$ 13,000.
Check out the full results of Transfero’s strategies
- Profitability in the month
Advanced -> 9,68% (BRL) / 0,67% (BTC)
Libra -> 10,55% (BRL) / 1,17% (BTC)
Conservative -> 3,01%
- Profitability as for year to date
Advanced -> 97,36% (BRL) / -23,59% (BTC)
Libra -> 81,17% (BRL) / -30,22% (BTC)
Conservative -> 35,98%