Weekly Crypto Report, PayPal makes BTC skyrocket

GENERAL OVERVIEW

The past week was very good for the cryptocurrency market. BTC price even pushed over 13’000 USD and managed to close slightly lower in one of the best weeks in recent times.

In the meantime, traditional financial markets are waiting for the US elections and eventually a deal on an additional stimulus package for the US economy. In the meantime, Europe in particular is dealing with a second wave of Covid infections which could worsen the economic outlook for the area.

Overall, BTC performed far better than top altcoins as represented by our indexes.

TOP PROJECTS

On a wider period, Monero (XMR) still keeps the top spot in terms of return while Chainlink (LINK) keeps showing a huge amount of volatility.

TECHNICALS

Looking at the last seven days’ prices, all the coins seem to be trading in the upper half of their price range apart from Tron (TRX) and Iota (IOTA) which are lagging the upward movement at the moment.

On a weekly basis, we can see how the top coins are showing now a positive setting in terms of moving averages’ difference, while MACD is also nearing an inversion in most cases. The situation have also improved considerably on a wider time horizon, even if a lot of the coins appear to be in overboughte territory there.

We proceed to have a look at the frequency distributions of the coins’ price in terms of satoshis to have a look at the relative performances. LINK, ETH and BTC . On a wider period, just Chainlink (LINK) is trading favourably with respect to BTC.

DISCLAIMER

The views expressed in this report reflect the analysts’ personal views about the cryptocurrencies subject of the report. These views may change without notice and are subject to market conditions. The report is prepared for information purposes only and by no means constitutes a solicitation to investment or disinvestment. All the data are taken from Binance at 14:00 UTC on the 23th October 2020. USD and USDT are used interchangeably for illustration purposes. All the presented valuations, indicators, and analyses are subject to errors. The report is for personal use only and should not be republished or redistributed