Cryptocurrency Relative Strength Analysis Report For Week Starting 8/12/19

in cryptocurrencies •  2 months ago 


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.

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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

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EOS

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Ethereum

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Litecoin

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Neo

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Steem

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Tron

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Zcash

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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:

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Two Weeks Ago

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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.


Published by Rolland Thomas
on

with SteemPress
https://mentormarket.io/cryptocurrencies/rollandthomas/cryptocurrency-relative-strength-analysis-report-for-week-starting-8-12-19/


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I have most of my crypto on hold right now. Took a few profits and will get back in with more later.

Thanks again for your insight.

Posted using Partiko Android

Continues to be the King! Let’s see how long it lasts as there needs to be other winners to legitimize the technology in general.

Posted using Partiko iOS