TSAG Libra was the strategy of Transfero with the best return in the month of August. The portfolio closed with an income of 10.59% for the investor. TSAG Advanced was in second place with 3.19% and in third, TSAG Conservative with 2.91%.
With the result, TSAG Libra accumulates a return of 86.89% in the year until August, against 113.41% of TSAG Advanced and 28.05% of TSAG Conservative. As a basis for comparison, the Ibovespa accumulates 15.07% by August of this year. The dollar rose 6.89% and CDI, 4.17%.
The performance of TSAG Libra and TSAG Advanced follows the market as a whole. The Advanced strategy, however, did not fully follow this movement, due to the positioning of part of the strategy in altcoins. Among them, a greater focus on ether, which reached historical falls in the ETH/BTC pair in the last weeks of the month.
Bitcoin grows 6.8% in August
The price of the bitcoin in the month of August was appreciated at 6.8% compared to the Brazilian Real. Against the dollar, the price of this asset is at a time of decision after a short downward trend in the month of August. This decision should take place in the coming days when the low trend line will be close to the support line of US$ 9,415.81.
“The volume of transactions in the BTC/USD pair has been decreasing since the month of June. Thus, the strength of the price highs has been increasingly minor in the last two months. This is a strong indicator that the price will break down the aforementioned support line, and may reach the levels of US$ 8,734. With the disruption in the range of the US$ 10.450 and the maintenance of the price above, it can reach US$ 10,900 in the short term.”, says the head of investments of Transfero Swiss, Carlos Franco Russo.
Market Reversal at sight
Nevertheless, the bad time of the ether may be a clue of a possible reversal of the market. The perspectives of changes to the proof of stake protocol in January 2020 may cause new hikes, along with new projects.
In addition, the launch of Bakkt’s new futures markets platform will shake the crypto market as a whole on September 23rd. BAKKT is an innovative exchange that relies on the investment of recognized players in the cryptoassets market.
Check how was the profitability of the strategies:
August 2019
Advanced -> 3,19% (BRL) / -4,84% (BTC)
Libra -> 10,59% (BRL) / -1,95% (BTC)
Conservative -> 2,91%
Accumulated at 2019
Advanced -> 113,41% (BRL) / -24,52% (BTC)
Libra -> 86,89% (BRL) / -33,91% (BTC)
Conservative -> 28,05%
