The past week was a very positive one for the top cryptocurrencies we cover. Last week proved to be nothing more than a temporary retracement and Bitcoin recovered from it and drove the whole market up. Altcoins were able to follow for the major part, with the whole market capitalization now well over 560 billion USD and very high volumes overall.
At this point in time, the uptrend of BTC does not seem destined to fade away with ease. All seems set for a push to 20’000 USD and an all-time high price. This fact itself will pave the way for increasing buzz around BTC and even if BTC fails to keep the level. However, green roads are ahead if it succeeds.
Overall, BTC performed better than top altcoins as represented by our indexes.
On a wider period, Ripple (XRP) still holds the top spot in terms of return, with only XLM able to keep the pace, both showing returns well over 100% during the past 30 days.
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. XLM seems to be experiencing the worst situation.
Looking at technicals, we cannot find a generally valid conclusion on a 7-days period among our indicators. On a wider timeframe, however, Moving Averages’ differences seem to indicate that the uptrend is still healthy. At the same time, MACD is giving the opposite signal, leaving us without a clear indication.
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. Monero (XMR) and Ethereum (ETH) are the only coins not losing ground to BTC with respect to their relative price distribution during the last seven days.
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