Best Performing Cryptocurrency Funds for 2024
Howdy investors!
If you need more time to stay on top of new crypto investments, you can use a professionally managed fund. Today, we're looking at the Best Performing Cryptocurrency Funds for 2024 to help you make decisions for the year ahead.
Also: bitcoin is back, baby! The price of BTC has increased 30% over the past two weeks. Barron's thinks this might begin a more significant rally; read on to find out why.
While markets have been moving consistently higher in 2023, the market share of Binance has been dwindling. We cover the reasons below, from regulatory concerns to losing over a dozen executive leaders.
And now, let's jump into the newsletter!
Best Performing Cryptocurrency Funds for 2024
Crypto funds have been part of the overall ecosystem since the first bitcoin fund was launched in 2013. Currently, over 840 cryptocurrency funds have been established, and there doesn’t seem to be any signs of that slowing down.?
And that growth is happening for a good reason. Crypto funds experienced unprecedented investor interest at the peak of the crypto market in Q4 2021, with a total AUM of $62.5 billion, but took a significant hit in 2022 due to a severe bear market. The total value of assets held by crypto funds declined by 66% to $20 billion in 2022, and inflows decreased by 95% compared with 2021. However, there are signs of resurgence as of this writing, with major crypto funds rallying by up to 50%.
This article will cover these funds, including their health and prospects, with our editorial ratings for the best crypto funds in 2024.
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Investor Takeaway: Bitcoin and other cryptocurrencies experienced a rise, leading to a 30% rally in bitcoin over the past two weeks. Many traders watch technical indicators, such as the "golden cross," signifying a potential bull market, occurring when the 50-day moving average exceeds the 200-day moving average. This crossover is seen as a bullish signal.
Investors might consider the formation of a "golden cross" as a buying opportunity, anticipating further price appreciation. However, it's essential to combine this technical indicator with other forms of analysis, including our investor scorecards.
Investor takeaway: Despite the resurgence in cryptocurrency prices, the market share of crypto exchange Binance has declined from 74% in December 2022 to 50% in October. This decline is attributed to executive exits and legal challenges from regulatory bodies such as the CFTC and the SEC. These developments have led to reduced trading activities on the exchange, with some trading firms scaling back due to the associated risks.
Considering these executive exits and regulatory challenges (along with the decline in market share and trading activity on the platform), investors may want to consider alternative platforms. (Note, however, we're still hodling our BNB.)
5 Phases of The Bitcoin Halving (Rekt Capital on X)
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Investor takeaway: This brief X thread looks at the historical patterns from bitcoin prices in the runup to the "Halving" and subsequent post-Halving price action. It highlights the potential rallies, retracements, and accumulation phases seen around prior Halving events.
Be aware of the historical patterns and market phases when planning your investment strategies around the Halving. Remember that the future may look different from the past!
Long-Term Wealth
* As UNI is less than five years old, we calculate from the launch date (Sep 2020).
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See our updated picks for the top exchanges, as rated by our editors.
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