Half way through the month, we are seeing Bitcoin (BTC) starting to cool down as it is down nearly 10 percent off its highs.
Money has flowed into the more seasoned Altcoins, as some of the newer issues have tempered their gains.
We believe that this may be the start of a massive bull rally in the alternatives. Alt Money Fund LP has not been able to take advantage of some of the bullish price movements in the newer issues. We have maintained focus on the more traditional and seasoned coins. This has been a very difficult July month for us, and then in August after seeing Bitcoin rise nearly 100%, we, like many fund managers and individuals, were not able to take part in the massive upward swing. The rally caught a lot of people off guard. Not only did the rally last nearly 2 weeks, but simultaneously the group of alternatives that we are positioned in fell.
We believe, although past performance is not indicative of future results, that we are entering a serious bull market for the alts going into the last 2 weeks of the month. Time will tell.