Of course, the last few days have not been the happiest time for crypto traders as the price of Bitcoin (BTC) has not broken the $ 50,000 limit, then dropped to the low $ 40,000 range and dragged most of the Altcoin. It is.
Despite this severe downturn, a handful of tokens seemed to do much better than other parts of the market by posting weekly gains in their BTC and US dollar-denominated pairs.
Some traders wanting to rack up their bitcoin holdings can’t be bothered to follow the price dynamics of an altcoin against the dollar. For them, the recent fall in BTC may be seen as an opportunity to make a profit, but how can it be said which currencies are likely to perform better on the way down BTC?
AVAX: Powered by News
Avalanche (AVAX) added 28.19% to its dollar pair last week and 43.46% against BTC. In addition, on September 17, news of a partnership between the Avalanche Foundation and the DFI Liquidity Hub Kibar Network raised the price of AVAX from 128,600 satoshi (SAT) to 153,600 SAT.
As the price of AVAX fell from this first peak, the pattern of asset price movements, trading volume, tweet volume and sentiment surrounding markets and social conditions began to bear a striking resemblance to the patterns observed in previous dramatic price increases.
This was indicated by the currency’s algorithmic VORTECS ™ score – an indicator exclusively available to Citi Markets Pro customers – above 0 which can be seen in the dark green line marked by a red circle on the chart.
The high confidence of the 80 and above score models indicates that the pattern is consistent.
In fact, just hours after the VORTECS ™ score line turned dark green, the AVAX assembly resumed. It was hit by a market-wide recession in the early hours of September 20, but the individual bullish momentum of the tokens was so strong that it bounced back in less than a day, trading at 156,900 sat on 22 September.
Track: A long turnaround
Over the past seven days, the OriginTrail’s Trace (TRAC) token has risen 6.02% against the US dollar and 18.11% against the bitcoin.
On 16 September, the social and market variables in the vicinity of TRAC formed a histor historically favorable pattern and the currency’s VORTECS ™ score reached 85 against the price of 852 SAT. The algorithm is continuously trained to identify the position before the previous rally within 12 to 72 hours, so sometimes the movement of the price movement may come a few days after the optimal score is recorded.
This happened in the case of TRAC’s price action this week. About 70 hours after showing the top VORTECS ™ score, the currency rose from 740 to 1088 SAT in 24 hours. The market flash crash on September 20 had an impact on TRAC, but it became faster and harder than most and received weekly positive returns against both the BTC and the dollar.
COTI: Enough speed for storm weather
COTI generated an additional 12.55% against the dollar and 26.51% against the BTC last week.
The currency’s VORTECS 6 score briefly surpassed 1 beyond September in the middle of a rally rally that took it from 66 to 262 S sat. As the pace of COTI began to slow down before the September 20 route, assets were traded at about 800 sats earlier that day. Nevertheless, strong market and social outlook had previously identified that the recovery of assets was smooth: the currency recovered much of the losses over the next two days.
While the VORTECS ™ score is by no means a foretaste of future price movements, it can alert investors to historical historical trends that could be profitably incorporated into a trading strategy.
Cointelegraph is a publisher of financial information, not an investment advisor. We do not offer personalized or personalized investment advice. Cryptocurrencies carry significant risks, including volatile investments and permanent and complete losses. Past performance is not indicative of future results. Accurate at the time of writing statistics or charts or otherwise as specified. Live-tested techniques are not recommended. Consult your financial advisor before making a financial decision.