HODL, norDL Investors!
What a volatile month that was for the crypto market!
In August, the crypto market experienced volatility due to mixed Bitcoin ETF news. Tug of war continues between the large institutions and the SEC for Bitcoin Spot ETF approval. Currently, it is not evident whether the SEC will approve the Bitcoin ETF this year. As a result, the crypto market experienced high volatility and ended negative.
The Crypto Market ended in the red with a -9.90% performance in August.
Let’s check out the detailed performance of the Crypto Index Funds over the last month.
Performance of Crypto Index Funds:
In August, the Crypto Index Funds performed between -6.31% to -22.14%.
Check out the following graph to know each fund’s performance in August.
2 out of 5 Crypto Index Funds have outperformed compared to the crypto market in the last 31 days.
If we look at the overall performance, Crypto Index Funds have given positive returns of up to +56.30% in the last 8 months.
Check out the following graph to know each fund’s performance in 2023:
The result of norDL funds shows the importance of a long-term view. The month of August has been negative for the crypto index funds. However, if we check the fund returns for the last 8 months it is clear that 3 out of 5 funds are outperforming the traditional stock market index S&P500.
August is an example for crypto investors to understand that the market doesn’t go up every month. When the market corrects many investors quickly become negative and sell their assets thinking the market is now going to go down. Most of the crypto investors lose their money during the volatility.
In the short term, predicting the market is very much impossible. The market can go up and down.
But, If you’re slowly and steadily building your portfolio with the best crypto assets, then you could increase the possibility of growing your portfolio easily in the long term. Most importantly, you can stay in the market comfortably because you have a clear and strong investment strategy.
norDL Updates:
Our Bitcoin Halving Countdown is now live. We’re tracking on-chain activity to show the most accurate time left until the next halving.
norDL app is moving into the last stages of development and getting ready to be launched very soon.
Please keep sending your valuable feedback to help us build the best crypto investment experience on norDL.
Invest Right and HODL Tight!
Disclaimer: Crypto is a volatile and slightly risky asset due to its novel nature. Please Consult your financial advisor to allocate appropriate funds to invest in crypto assets apart from your traditional investing.
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