At the end of January 2024, we published an article titled “Guide before the Bull run: The best crypto portfolio 2024” on our portal Joker.gg, related to the long-awaited start of the new crypto bull run shortly after the historic approval of the Spot ETF by the American SEC (Securities and Exchange Commission). We already knew that Bitcoin and the crypto market had generally become accepted by major institutions and players. Primarily from Wall Street, but how did all this affect the price in the first four months? Today’s article is dedicated precisely to this topic. We will answer whether our selected narratives have changed in the first four months. Also, what can we expect in the next period? So, let’s begin.
Factors Affecting Portfolio Creation
As we mentioned back then, many factors influence portfolio creation. No doubt wishes and invested money are among the most important. Traders who invest large sums are satisfied with smaller percentage profits, as long as it is “safer,” and opt for currencies like Bitcoin and Ethereum. On the other hand, investors who invest smaller amounts want to achieve higher profits, so they will accordingly chase lesser-known currencies that offer more significant growth opportunities. At the same time, a higher chance of losing money. Therefore, not investing a larger sum than you are willing to lose is essential.
Have the current crypto narratives changed?
As a quick recap, in our previous discussion, we highlighted AI, Meme, Gaming, and RWA tokens as potential frontrunners for the upcoming Bull Run. Now, let’s take a step back and analyze the trajectory of these narratives over the past four months.
Artificial Intelligence Tokens (AI Tokens)
There is no doubt that Artificial Intelligence is the future, and as such, it attracts the attention of many investors. AI tokens on our radar during the previous period included ROSE, Render, Akash, and Fetch.ai. We will briefly examine what these four currencies have done since the publication of the portfolio creation article.
When writing the article, Oasis Protocol, or ROSE, had a value of $0.11 per token. However, following the release of the Illuminex exchange, the entire ecosystem saw movement. The price even reached $0.185. Nevertheless, we still consider this currency one of the most underrated on the market. With its current value at around $0.09, we see it as a perfect entry point.
In contrast to ROSE, Render (RNDR) has had an upward trajectory in the past four months. From a price of $3.80 at the time of writing, the token’s value increased to an all-time high (ATH) of $13.60 in mid-March. With the price being $11.12, resulting in a growth of 193%! Considering that we are still far from the peak of the Bull market, it is clear that this project has yet to showcase its full potential.
Akash Network (AKT) can also boast growth in the previous period, with the price rising from $2.88 in mid-January to today’s $6.05. Additionally, it’s worth noting that this token reached its ATH a month ago, touching a price of $8.08, which represents a growth of 180%!
For many, Fetch.ai (FET) has achieved the best results in the previous period. This token, which was released before the last Bull Run, thus faced selling pressure at the previous ATH. From $0.68 at that time, it reached as high as $3.47 at one point in late March (+410%).
Meme Tokens
The narrative that undoubtedly surprised everyone the most in the previous period is the Meme. So, it’s no wonder many investors are investing money into this type of cryptocurrency. Furthermore, the trend continues, and it remains to be seen how far some Meme giants like Pepe, Shiba Inu, WIF, and DogeCoin can go in this Bull run. The best indicator of the popularity of Memes are influencers who have begun to “shill” meme projects in an incredible volume, giving them an increasingly significant percentage of their portfolio. In fact, if your portfolio had a 5% stake in Meme tokens at the beginning of the year, their share today is drastically higher. Considering that this narrative has experienced the greatest expansion, although, in previous cycles, this happened only at the very end of the Bull market.
Pepe, one of the newer currencies created in 2023, has experienced a growth of 830% from January. It is currently at its new ATH, with a tendency for further expansion. Shiba Inu has experienced an increase of 160% at this moment. While at one point in early April, that growth amounted to as much as 350%! Bonk and DogeCoin have “disappointed” with “only” doubling profits in this period. At the same time, we cannot help but mention the new Meme token that emerged after the January article, namely WIF (Dogwifhat), currently the 38th currency by overall cryptocurrency market capitalization, which is genuinely an incredible statistic!
Gaming Tokens
Gaming is one of the narratives that hasn’t shown its whole shine in the past four months. Many expected much more from tokens, one of the main drivers of the previous Bull run, providing their holders with incredible returns. However, that hasn’t happened yet, but it’s far from too late for their growth. Most gaming tokens are currently at approximately the same value as they were in January. Some are even slightly lower, and we are waiting for the surge of Gaming tokens. It is one of the narratives that are among the most popular in the Web3 world.
RWA (Real World Asset) Tokens
Although we talked about RWA tokens four months ago, we left the room to see how companies would succeed in connecting Web3 technology and the real world. The news that Blackrock has allocated $100,000,000 for asset tokenization raised awareness of RWA tokens, and shortly after that, there was a rise in the overall Real World Asset market. Shortly after that, tokens like RIO, PROPS, and PROPC experienced incredible increases, up to 400%, only to return to the current 200-250% after the April correction, which is still a very nice profit considering that we are still somewhat in the early stages of the Bull run. It should be noted that most of these tokens are still not listed on “Tier 1” exchanges, so we believe the best is yet to come for them.
Portfolio Snapshot from January 2024 Four Months Later
Four months ago, we emphasized the importance of creating a portfolio based on the percentage of each currency it should occupy. We called this the “Risk and Reward Ratio,” and now we will summarize the results of our portfolio created based on the analysis and assessments we made during the previous period. Of course, we created an example of a “low-risk – mid to high reward” portfolio to get the best results, so let’s see what happened.
Bitcoin, as the cornerstone and most well-known currency in the entire crypto industry, occupied 25% of the value in our portfolio. The value of Bitcoin on the day the article was published was around $42,000, while today, its price is $66,000, which is a significant increase of 57%! Additionally, BTC went nearly to $74,000 in mid-March, and there are increasing chances that we will witness the moment when the most well-known cryptocurrency breaks the value of an incredible $100,000 per token.
Like Bitcoin, Ethereum also received 25% in our portfolio, and its price has gone from $2,200 in January 2024 to today’s $2,950, which is a slightly lower increase than BTC and amounts to 35%. Moreover, this may indicate that we are still in the early stages of the Bull run, given the high Bitcoin Dominance. However, it is essential to remember that Ethereum also had its growth. At one point, it reached $4,000, so if someone made a profit, then they now have an excellent opportunity to reinvest their funds and achieve additional profit.
Other Crypto Assets
The choice of mid-market cap coins (20-25%) is individual, making it tough to evaluate results. Some coins made a profit (SEI, Render, Solana, and Avalanche), while others (Rose, Celestia, and Injective) ‘s value declined. The situation is similar to low-market-cap coins, which should have a 15% share in your portfolio, so we will wait until the end of the bull market to see how much profit these coins will bring.
Finally, we have the aforementioned Meme tokens, which experienced an incredible boom in the previous period. If you invested equally in the most popular Meme coins from the Top 200 cryptocurrencies by Marketcap, you could have made an average profit of over 400% on your investment, which is more than a fantastic sum considering the market situation.
Conclusion
Four months ago, we concluded that there are no guarantees that you will make money on cryptocurrencies, and this recap four months later best demonstrates that. Suppose you ask someone who read our article in January and invested in Gaming tokens. In that case, you will get the answer that crypto is in a stagnation phase. In contrast, if you ask the same question to someone who invested in Meme or AI tokens and followed some of the suggestions for creating a diverse portfolio, you will get a completely different answer.
Of course, this is why it is essential to do your own market research and make decisions independently. Ultimately, it’s your money, and you should choose where to invest it. However, one thing is sure: quality portfolio diversification increases your chances of profit; it’s just important not to exaggerate it. A successful crypto investor must keep track of developments related to every project they have invested in. If you invest in too many currencies, that can be very difficult and burdensome.
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FAQ
What is artificial intelligence?
Artificial intelligence, known as AI, uses computers and machines to simulate the human mind’s abilities in decision-making and problem-solving. This technology combines mathematics and cognitive science to enable computers to analyze large amounts of data for efficient problem-solving. In short, AI utilizes advanced computer systems to emulate human intelligence.
What is the SEC?
The SEC is the U.S. federal regulatory agency responsible for overseeing and regulating the securities markets. Its role is to protect investors, maintain fair and transparent market operations, and facilitate capital formation. The SEC has a broad range of powers, including registering and overseeing financial entities such as brokerage firms, investment advisers, and exchanges.
Where to store your cryptocurrencies?
Although centralized exchanges make storing cryptocurrencies easier, the safest option is to store them in a private “cold” wallet. In the past, numerous hacking incidents have involved even the largest centralized exchanges, and some have even gone bankrupt. Therefore, we recommend transferring all funds that you do not plan to trade in the short term to a cold wallet, and Ledger or Trezor are some of the recommended cold wallets.
Where to buy cryptocurrencies?
Cryptocurrencies can be purchased on various cryptocurrency trading platforms, known as cryptocurrency exchanges. Some of the most well-known and reputable centralized exchanges include Binance, Kraken, and Coinbase. However, for security purposes, transferring your funds to a “cold” wallet is always recommended to protect yourself from potential hacking attacks on any of the exchanges.
When can we expect the peak of the Bull Market?
It’s tricky to answer this question definitively, especially considering that this cycle looks quite different from others due to Bitcoin’s ETF entry. However, after the significant correction in spring 2024, the entire run is “getting back to normal,” and historically speaking, we might expect the peak of the new Bull market in 2025.
