In the past week, the NWST1100 plummeted by 15.85%. The index had not started upward momentum, it shed nearly 20% over the past 5 days, by Friday the price found a floor, it hit 6 months low. BitMax Token (BTMX) is the NWSL100 crypto index member which made the biggest jump in our ranking last two weeks.
*We gauge the crypto market breadth and direction of the market by showing charts 2100NEWS Digital Assets Total Index (NWST1100) which represent the top 1100 Digital Assets. The chart overwhelmed with information is at first glance difficult to read but on the chart is the most important price information, important decisive price levels, momentum, volume of trading, and crypto market breadth.
In the previous report, it was said, for the past week our assumption had been: the market was so weak that it could linger around the pivot line (755 points) for a few more days in the worst case NWST1100 could test lower Bollinger line for a while. On the NWST1100 chart, we can see, the index had not started upward momentum, it took a seemingly unexpected turn over the last week as it shed nearly 20% over the past 5 days. Last Sunday NWST110 looked strong but by Friday the price found a floor, the index hit 6 months low. Comparing two PF charts you can see, chart damage pulled index into bear territory.
Looking ahead to the next week: The indicators give us the following signals: we can see that RSI is 17 and oversold, PPO histogram bars could change the slope to positive in the next few days. It is likely to pick up stronger upside momentum. The Breadth indicators are falling. One may interpret this as hopium dealing but a close look at the facts tells us, investors can expect a bounce to reclaim the lost ground or the index head to new lows.
Performance of different groups of Digital Assets (Coins and Tokens)
At the table, you can see that the Total (NWST1100) index plummeted by 15.85% over the past week. The worst digital assets were Coins represented by NWSCo100.
Crypto (Digital Assets) compared with global equity
On the chart below, the performance of the average Digital Aset represented by our NWST1100 index is compared with the average global equity represented by Dow Jones global index W1Dow. This year average crypto vs. W1Dow surged 23% but over the past 5 months, we were observing a pullback. Five weeks ago NWST1100 vs. W1Dow rebounded, last week quotient has plummeted.
Indexes Revision 11-22-2019
The Bi-weekly revision update both, the amount of each asset publicly available and any additions and deletions from the indexes. On the tables below there are additions and deletions from NWSL100 and NWSM200. As we can see on the tables Centrality, Verge, BitMaxToken… have improved their rankings they were added to NWSL100 and deleted from NWSM200. Cryptonex, Nash Exchange, Bitshares … were deleted from NWSL100. They are new members of NWSM200. New mid-caps are Mindol and Nervos. Other additions and deletions this week for the other indexes from the family are available in each index presentation.
We select the member in the NWSL100 crypto index with the biggest jump in our ranking. Considering an investor’s point of view, peer comparison should be efficient and effective. To make appropriate peer comparison we gauged the BitMax Token (BTMX) with 2100NEWS Digital Assets 100 Large Cap Index (NWSL100). Looking at the chart below, at the top we can see the BTMX vs. NWSL100, in the middle of the chart is the original BTMX price, at the bottom of the chart are NWSL100 and correlation between BTMX and NWSL100. Purple area graph shows, BTMX has beaten NWSL100 in November when crypto markets were falling. However, the correlation graph gives us an explanation, for 85% of the time, it was moving in the same direction as the NWSL100. Over the last four months, it had a strong correlation with NWSL100, so it was a typical representative of the NWSL100 index in terms of price changes.
BitMax Token (BTMX) Website: https://www.bitmax,io
BTMX as Large-cap Ethereum based Token is 79 in the 2100NEWS ranking. It is an Index member: NWST1100, NWSL100, NWSTo100, NWSET100
2100NEWS DA Orderbook Quality Evaluation Grade: Ordinary: 9.5 (Average for Large caps: 11.9)
Over the past week, the average market cap was 43.3 million $, average daily volume was 2.9 million $.
BitMax is a global operator of digital asset exchanges for diverse groups of clients from retail to institutions. Its native digital cryptographically-secured utility token (Symbol: BTMX) is a major component of the ecosystem on BitMax and is designed to be used solely as the primary token on the platform. BTMX will initially be issued by the Distributor as ERC-20 standard-compliant digital tokens on the Ethereum blockchain. BTMX is a non-refundable functional utility token which will be used as the unit of exchange between participants on BitMax. The goal of introducing BTMX is to provide a convenient and secure mode of payment and settlement between participants who interact within the ecosystem on BitMax.