The last week has been one of the best ever for BTC, crossing 40’000 USD for the first time and continuing to stamp all-time high prices. Bitcoin is once again on everyone’s lips and cryptocurrencies together with it.
The crypto market is now worth more than 1’000 billion USD. However, the market capitalization of altcoins is still just about 60% of how much it was at its peak at the beginning of 2018. In other words, an altseason could be around the corner if a pattern already seen in the past is going to be repeated. Actually, the past week has already seen a very good performance of altcoins, as you can see in our table above.
Whatever the case, mediatic exposition is booming for BTC and cryptos, and this is a great occasion for the blockchain technology to showoff the developments of the past couple years.
Overall, still BTC performed better than top altcoins as represented by our indexes.
On a wider period, however, Litecoin (LTC) and Bitcoin (BTC) are the best projects in terms of return, with only Ethereum (ETH) and Cardano (ADA) coming close.
Looking at the last seven days’ prices, it is evident how BTC is leading the pack upwards, being the nearest coin to the top of its range. However, a general health is also apparent among top projects, with no coin experiencing a significant retracement.
Looking at technicals, the situation looks extremely positive both on the 7 days and 30 days frameworks. RSI is flashing an overbought situation in the latter, particularly for BTC.
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 once again, with few of the top coins showing the resemblance of a balanced situation.
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