The cryptocurrency market is living its greatest moment since late 2017. BTC is creating the buzz and dominance is increasing. However, altcoins are rising soundly as well, with total marketcap excl. BTC sitting at levels basically not seen since summer ’18. All seems set for an altseason once BTC slows down a little bit.
Volumes are rising and good news coming, with PayPal’s crypto services going live this past week.
Overall, BTC performed better than top altcoins as represented by our indexes.
On a wider period, Bitcoin still holds the top spot in terms of return, showing a relatively moderate level of volatility as well with respect to its peers.
Looking at the last seven days’ prices, the field seems pretty even in terms of number of coins tradin in the upper or lower half of their price range. Ethereum (ETH) is the nearest to its max, while ETC is experiencing the biggest retracement.
Looking at technicals, it is impressive to note how BTC is in overbought mode since basically the start of the last thirty days. MACD and Moving averages’ difference are not giving sings of fatigue as well.
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. It is interesting to observe how only Dash and Litecoin are trading favourably with respect to their relative value to BTC in the last week. On a wider period, BTC is experiencing uncontested strenght overall.
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 13th November 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