Cryptocurrency Relative Strength Analysis Report For Week Starting 7/28/19
When you think about Cryptocurrencies, one name immediately comes to mind, Bitcoin. Since the creation of Bitcoin, there has only ever been one cryptocurrency at the top of the market cap rankings…Bitcoin.
When the price of Bitcoin rises, generally you can expect altcoin prices to rise with it. Likewise, when the Bitcoin price drops, altcoins also follow. And sometimes when Bitcoin is rising, the altcoins are declining due to cash moving from the altcoins to Bitcoin and vice versa.
Bitcoin dominance is used to measure the percentage of the cryptocurrency market that can be attributed to Bitcoin. Thus, it’s very easy to determine the relative strength of Bitcoin at any point. Not the case for the altcoins…until now. I have taken the more popular altcoins and determined their relative strength, relative to Bitcoin using just moving average.
Binance
EOS
Ethereum
Litecoin
Neo
Steem
Tron
Zcash
Based on the moving averages and the last daily closing price, relative to the moving averages,
the altcoins relative strength, relative to Bitcoin are the following:
Two Weeks Ago
This post is my personal opinion. I’m not a financial advisor, this isn't financial advise. Do your own research before making investment decisions.
Amazing how bitcoin continues to be King! The question is for how long although decentralization seems to be the main catalyst at this point which gives them a major advantage.
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It might be the safe haven as designed after all.
Hey man, you need to start using steemleo as one of the tags on your posts. It's the financial related tribe and you earn leo coins which are on steem-engine.
I now see the potential of SMTs.
Cool beans, appreciate the heads up...do they have a sub website or something for me to check out?
Yes, https://www.steemleo.com/