With less than 10 days to the much anticipated halving event, Bitcoin clearly overperformed the rest of our sectors during the past seven days. BTC crossed the 9000 USD mark on April 30th after crossing the 8000 USD mark on April 29th. It reached a high of 9460 USD and then fell back under 9000 USD after facing the resistance line coming from the all time high price and passing through the relative peak levels.
The last thirty days saw a general strong uptrend for the market. Bitcoin paved the way with a very strong performance which cancelled the fallback of March. Altcoins followed united, with all the sectors and the sizes of projects which performed very well on aggregate.
The graphs above show how BTC has recently overperformed all its peers among currency projects. All the other currencies are trading at the lower end of their relative frequency distribution of price in satoshis.
The incoming halving event is clearly catching the majority of investors’ attention with respect to currencies.
The Platform sector keeps rolling and bested the field also in the past seven days. However, the week was again very positive overall, with tokens and Bitcoin also in very good shape. A trend is starting to emerge, which is BTC convincingly overperforming its peers in the aggregate Currency sector. The main reason behind this trend could be the incoming BTC halving. Still, all the sectors experienced a positive week and there is no structural need to worry about currencies.
The platform sector was once again the best in the past seven days. The platform sector was once again the best in the past seven days. However, in a positive week for the market where nearly all the coins registered results in green, all our sectors were able to overperform Bitcoin.
The graph above show the level of correlation between coins belonging in the currency sector in the last […]
The graph above shows the correlation level between currency projects. In the last 30 days the overall level […]
In this report, we try to provide an overview of the crypto market during the last week with […]