The last week has been a very crazy one, even by crypto market’s standards. A trend started in traditional financial markets consisting of subreddits pushing some small-caps stocks higher and higher. Hedge funds and traditional investors in general were caught off-guard, stop loss were triggered on short positions and volatility rose unexpectedly. On the same note, the crypto market experienced a burst in volatility near the end of the week. Subreddits played a role as well, particularly pushing Dogecoin to levels never seen before. Tron was another crypto investors’ favourite, while BTC even benefited from an Elon Musk’s tweet.
Overall, BTC performed far better than top altcoins as represented by our indexes.
On a wider period, Stellar (XLM) is still the best project in terms of return, with only Chainlink (LINK), Ethereum (ETH), and Cardano (ADA) coming close.
Looking at the last seven days’ prices, the market is not clearly skewed upward or downward, with an apparent equilibrium overall. BNB is the closest crypto to the top of its range.
Looking at technicals, the situation on a 30-days timeframe looks pretty bright, with Moving Averages’ differences clearly showing a positive setting and MACD looking ready for an uptrend.
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 outpaced its peers once again during the past week, with TRX the only coin able to put on a fight.
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