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Crypto Market Insights: Spectrum Portfolio in September 2023


In September 2023, the crypto market presented a mixed bag of performance. The Spectrum Portfolio dipped slightly by -0.28%, while Bitcoin (BTC) exhibited strength, gaining 3.10%. The Crypto 100 Index (CI100) also showed resilience with a 2.75% increase.


September's price action was characterized by sideways movements. BTC traded within the $28,000 to $25,000 range, with $25,000 proving to be a robust support level. However, no clear trend emerged during the month.


Bitcoin dominance continued to rise, siphoning market share from Ethereum (ETH) and most altcoins. XRP saw some stability as it aimed to establish support around the $0.50 level.


We maintain a cautious outlook for the remainder of Q4 '23 due to the weak traditional macro-economic environment and central banks signaling prolonged low-interest rates. While we expect crypto valuations to face pressure in the near term, we hold a positive long-term view.


For a more detailed analysis of our portfolio's positioning, performance, and our outlook, please refer to the Spectrum Factsheet.




Disclaimer:


This is not an offer to buy or sell, or a solicitation of any offer to buy or sell any of the investments or assets mentioned herein. The information presented does not involve the rendering of personalized investment, financial, legal, or tax advice. Certain statements contained herein may constitute projections, forecasts, and other forward-looking statements, which do not reflect actual results. Information provided by third-party sources are believed to be reliable and have not been independently verified for accuracy or completeness and cannot be guaranteed. Any opinions, projections, forecasts, and forward-looking statements presented herein are valid as of the date of this communication and are subject to change without notice. The information herein represents the opinion of the author(s), but not necessarily those of Stewards Investment Capital Ltd.

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