August 2024 eToro Portfolio Update (vincenzost)
- 2 September 2024
- Posted by: Vincenzo Stefanini
- Categories: Investing & Trading, Money
Popular Investor Statistics
I am a Champion Popular Investor on eToro, awaiting the required minimum AUC to upgrade to the Elite level.
My username is vincenzost and 176 people are currently investing in my portfolio.
The assets under copy are between $300,000 and $1,000,000 and my portfolio has a risk score of 6 (medium).
Over the past five years, my portfolio has achieved an impressive profit of over 390% (5x the initial capital invested).
Portfolio Performance
August 2024 has been a very negative month for cryptocurrencies.
Bitcoin dropped by over 8% and Ethereum fell by over 22%.
Altcoins and crypto-related stocks also declined in value, some of them by over 30%, resulting in a 9.93% decrease in my portfolio for August.
Because of this, my portfolio’s performance for this year is now negative.
I expect September to be volatile with spikes up and down, but the last 3 months of the year are usually very bullish, so there is still the opportunity to close this year in profit.
Market Forecast
In August 2024, the crypto market dropped significantly due to concerns over the Federal Reserve’s interest rate policy.
This generated a sell-off in risk assets like cryptocurrencies.
Additionally, the unexpected arrest of Telegram CEO Pavel Durov added to the market’s instability, particularly affecting tokens linked to the Telegram platform.
Despite this negativity, I remain very bullish on cryptocurrencies for this year and the next, firmly believing that we are still in a bull market that will continue through 2024 and 2025.
Now is a very good time to buy and accumulate for the long term, in my opinion.
So, take advantage of this price drop and start investing now!
This period of accumulation is ending soon.
Asset Allocation
The current asset allocation of my portfolio is as follows:
- 60% Cryptos (increased compared to last month)
- 1% ETFs (no change compared to last month)
- 15% Stocks (increased compared to last month)
- 24% Cash in balance (decreased compared to last month)
Portfolio Strategy
In recent months, I have optimized my portfolio, increasing exposure to altcoins and crypto-related stocks to maximize profits during this new crypto bull market.
In August, I opened new long positions in FET, OP, ETH, SOL, COIN, MSTR, and ONDO. I have some buy orders already placed on altcoins, in case the prices will drop even more.
If you are already a copier, keep your copy open and add new funds monthly.
Remember, this is a long-term investment for at least the next two years.
If you’re not yet copying my portfolio, now is a great time to start.
I recommend investing at least $2,000 and if you have invested less, consider adding more funds to your copy now.
Goals
My goals for 2024 are:
- Increase assets under management to over $400,000
- Maintain a medium risk score (max 6)
- Post regularly on my eToro feed and social media
- Outperform Bitcoin
Contacts
If you have any questions, feel free to contact me on eToro or through my social media accounts. Follow me for more updates. Have an amazing day!
Copy My Portfolio
If you want to invest in my portfolio, follow these steps:
- Create a new account on eToro via this link
- Go to my eToro profile
- Click on COPY
Happy investing!
