View on the Market

Jan 10

Awaiting the SEC's Bitcoin ETF Decision

TLDR: December 2023 saw Bitcoin's price fluctuate significantly, ending a year of intriguing market movements. As 2024 begins, investor interest in high-risk assets is returning. However, the crypto market is currently focused on the potential SEC approval of the Bitcoin ETF, an event causing much speculation and uncertainty. This could lead to unpredictable short-term price changes. Our portfolios are prepared for any outcome, whether it's a market upswing or a downturn.

December has firmly established itself as an outstanding month, marking the grand finale of an intriguing 2023. This year, we witnessed Bitcoin's price fluctuate, climbing in a staggered fashion while also experiencing prolonged periods of sideways movement.

As we turn our attention to 2024, the outlook appears more transparent. There's a renewed investor interest in higher-risk assets, signaling a shift in market dynamics.

However, we're currently on the cusp of a pivotal event that has stirred considerable buzz in the cryptocurrency market: the potential approval of the eagerly awaited Bitcoin ETF. The swirling uncertainty and speculation regarding the SEC's decision on this product have set the stage for a scenario rife with unpredictable short-term price movements.

This situation could lead to a sudden and significant price correction in either direction, a development that remains highly unpredictable due to its strong psychological underpinnings.

Consequently, we find ourselves in a phase of anticipation, awaiting further news.

Our portfolios are strategically positioned to capitalize on any positive market shifts following good news. Simultaneously, we maintain a substantial cash reserve to leverage any downward corrections, potentially benefiting from a subsequent market rebound.

In such scenarios, we advocate for making informed portfolio decisions post-news assimilation, rather than engaging in market speculation, which carries a 50-50 risk of misjudgment.

Ultimately, the outcome remains uncertain, and all that's left is to patiently wait.

Alpha One Update:

Month to Month* +5.19%

Year to Date* +79.74%

Since Inception** +58.17%

We have concluded an excellent year for the Alpha One portfolio, with a total return for 2023 of 79.74%.

Although we have improved during the last month compared to the previous one, by 5.19%, our benchmark reference has grown by 19.74%, which places us just behind in terms of total return.

We continue with the goal of offering a portfolio with a long-term vision, with the best possible risk-adjusted return.

Edu Forte,

CEO and Co-Founder.