- 20 March 2024
- Posted by: Vincenzo Stefanini
- Categories: Investing & Trading, Money
Market Update – 20 March 2024
As you might have noticed, the Bitcoin price started dropping after reaching the all time high on 14 March 2024.
So far, the Bitcoin price is down about 14% from the recent high and the correction phase is still in progress.
The Crypto Fear and Greed Index also cooled down from 80 (Extreme Greed) to 74 (Greed).
These type of corrections are normal even during the bull market and are healthy, so there is nothing to worry about.
Actually, this correction is positive because it will allow the price to push higher in the upcoming months.
The Bitcoin halving is less than one month away. After this event the price historically started going parabolic.
I personally remain very bullish about the outlook for Bitcoin and the whole crypto market, for the medium and long term.
The Ethereum Spot ETF should be approved by the 23rd May.
I am expecting the volatility to continue, also today, because the Federal Reserve will announce their interest rate decision, which will affect the price of all assets, including stocks and cryptos.
eToro Portfolio Update
I took advantage of the recent drop to take profit on some long positions in cryptos and to increase my exposure to altcoins, since I believe that they will outperform Bitcoin soon.
Therefore, I rebalanced my portfolio accordingly.
This will mean more volatility of the portfolio, but also the opportunity to make higher gains this year.
Many meme coins on Solana are already exploding, so the interest for altcoins is still high.
If you are already a copier, keep the copy open and add new funds to the copy every month.
Remember that this is an investment for the long term, for at least the next 2 years.
If you are not copying my portfolio, now is a great time to start investing.
I recommend investing at least $2,000. If you have invested less, consider adding more funds to the copy now.
Contacts
If you have any questions, you can contact me on eToro or my social media accounts.
Follow me for more updates like this.
I hope you have an amazing day.
Copy my portfolio
If you want to invest in my portfolio, please follow these steps:
1. Create a new account on eToro, via the following link https://www.vincenzostefanini.it/goto/etoro/
2. Go to my eToro profile: https://vincenzostefanini.it/goto/etoro-vincenzost/
3. Click on COPY
