Weekly Crypto Report, 20’000 is no more

GENERAL OVERVIEW

It finally happened. After three long years, BTC approached again the 20’000 USD level. In December 2017, it wasn’t able to catch it. Even worse, 20’000 acted as a strong resistance and Bitcoin fell back rapidly. This time around, things went differently. BTC crossed 20’000 USD on December 16th and didn’t stop there. It actually approached USD 24’000 in a crazy two-days rally. Bitcoin eventually fell down but was still able to close at around 22’500 USD.

Top altcoins generally followed the trend, even if BTC is clearly the one leading the pack once again.

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

TOP PROJECTS

On a wider period, however, Ripple (XRP) itself and Stellar (XLM) are still the best projects in terms of return, with only Chainlink (LINK) slightly negative for the period.

TECHNICALS

Looking at the last seven days’ prices, a correction for the highs seems evident, with LTC still leading the group. At the same time, no coin is actually near the the lower edge of the range.

Looking at technicals, both on a 7-days period and on a 30-days one moving averages differences are giving very encouraging signals. On the shorter timeframe, MACD seems also generally near to a positive signal.

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. Bitcoin clearly outpaces its peers, with only LTC trading favaourably in relative terms.

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 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