Cryptocurrency: Do Your Own Research: Part 2
I like to compare coin performance over time. I always use Bitcoin (BTC) as a baseline for these comparisons, because Bitcoin dominates the market by both market cap and volume. Seeing how a coin's price movement is correlated to Bitcoin's helps give an indication of its strengths.
I turn to coinlib for a helpful graphic comparison tool.
Let's compare Bitcoin to Steem since April 2018, when the coin market began to regroup after Q1 declines.
Although roughly correlated, Steem has outperformed Bitcoin over the last seven weeks.
This link will give you the above chart from April 1, 2018 to today's date. I took the screenshot on May 21.
Comparing Coins/Tokens within a Sector
Taking Steem's social media sector, let's use coinlib to compare its performance to other social media coins/tokens. For this example, I've chosen ReddCoin, QunQun and ALISmedia.
From this chart, it's easy to see that ALIS is a market laggard. Before I invested in the Japanese social media platform, I would make a more thorough investigation as to why this is the case.
This chart also highlights a drawback of the graphing application. Users can't change the colors in the graph. The default is "Asset 1" is blue, 2 is green, 3 is purple and 4 is red.
I entered these assets according to market cap, so ReddCoin appears green--a little counterintuitive.
But the service is free, and supports a large range of coins and tokens. The page also contains other helpful comparisons, like correlation, market cap and all-time-high info.
What site do you use to graph performance? Please let me know in the comments.
Note: This is not a referral link. I find the site helpful and thought I would share it.
Hi, thank you for contributing to Steemit!
I upvoted and followed you; follow back and we can help each other succeed :)
P.S.: My Recent Post
HERE'S A TIP TO YOU. DON'T CLICK ON ANY LINKS FROM PEOPLE THAT YOU DO NOT TRUST 100%!!!!! THIS IS A VERY GOOD WAY TO HAVE YOUR ACCOUNT PHISHED. ALSO, LET ME ASK ARE YOU LOGGED IN USING YOUR MASTER PASSWORD OR YOUR PRIVATE POSTING PASSWORD? IF YOU DON'T KNOW THE ANSWER TO THIS QUESTION YOU NEED TO FIND IT OUT AS SOON AS POSSIBLE!!!!!!!! YOU SHOULD ALWAYS ONLY BE LOGGED IN USING YOUR POSTING PASSWORD! I promise I am not trying to scare you just trying to protect you. I wish you nothing but success here and success cannot come if you lose your account.
Thanks for the all caps reply.
What does that have to do with my post, or is it just more bs spam?
No, it's not spam. Stop by my place and SEE who I am. I only want to help. I also upvoted all your recent posts and some of your comments. Not spam. Seriously, there's been a lot of phishing schemes going on here and if you click on unknown links, while you're logged in under the wrong password, you can end up with your account stolen. You recently nominated yourself at @sjennon post.(This is where I first saw you, I also left a comment there , saying I was going to stop by here) I was a winner last week and she has just recently followed me and I her. I promise I am only trying to help you. Use your steemit search bar and search how to protect yourself against phishing.
As far as what it has to do with your post...nothing AND everything. I saw the gentleman had posted a link in the comment section here.(I only came by because you said in your nomination you were only getting bot votes and I wanted to check your place out☺)Anyway, his link made me think you may not know about the phishing scams and I wanted to warn you. Sorry about the all caps, but it is very important. And it has everything to do with your post because, you can't post if you lose your account. So I truly hope this explains it and I want to say I am sorry for upsetting you. I should have been more personal. I just assumed you would have read my other comment already. I'm just real sorry.
Sorry, brother. Starting on Steemit has been a strange experience. There’s so much information and, at times, so little connection. It starts with the “introduce yourself” post. Nice idea, but it’s crawling with spammers.
You can look up their comments and see, “spam, spam, spam.” Cut and paste.
And the begging bots. Ugh. “I liked you; like me.”
I feel like a dj broadcasting at night, and the only callers to the request line are wrong numbers and telemarketers.
So I was a little sensitive last night when I saw your reply.
My thanks, brother. Today is a new day (in my time zone, at least).
Cheers
Well, I only have humans at my place. So if you get tired of playing with the Bots, stop by. And I'll ask again though, do you know what password you are logged into steemit with? I'm sorry to keep beating a dead horse, but this one matters.
Good post and don't feel discouraged.
Start-ups are not always easy. Keep on steeming
Thanks for the encouragement.
You are welcome @webbie
That's good information @webbie,thanks for share us..good job and keep it on you ;)
Thank you. You are very kind.
It's my pleasure @webbie :)
Welcome to Steemit @webbie. This is a tough place to succeed and can be hard to get interactions on well thought out posts. I was brought here through a post @johndoer123 made.
If you are looking for more interaction a good tip is to check out the #newbiegames section. Its filled with newbies and some vets that both create and enter a wide array of easy games. It creates allot of interaction.
Thanks for your post about crypto. I am fairly new to it and any info regarding it is helpful to me.
Best of luck with you account.
Thanks. I'll check it out.
Hi webbie, welcome to steemit.
Coins mentioned in post: