2100NEWS WEEKLY CRYPTO REPORT
Written by Branko on November 19, 2018
The family of cryptocurrency indexes, 2100NEWS DA (Digital Assets) Indexes serve for general insight into crypto markets and measure for their current and past movements. Any tool that provides insights into what drives token’s and coin’s prices up and down is a welcome addition to every investor’s arsenal. With the 2100News weekly crypto report, we analyze and gauge the entire crypto market.
Technically, as you can see on the chart below 2100NEWS Digital Assets Total Index (NWSL100) which measures the performance of top 100 crypto assets by market cap, two weeks ago the price NWSL100 endured a pullback. The downside move was such that price was approaching close to the 50% Fib. retracement of the rally. In fact three days we kept hanging around that level. This shows there was no strength at all in the market, PPO headed to the negative territory. All 2100NEWS DA indexes had a similar moving pattern. In Movers of the Day post, we warned readers. On Thursday support zone did not hold and that was a big sell signal. Crypto markets have fallen due to Bitcoin and Ether. Large-cap Digital Assets fell 2 percent less than Bitcoin and Ether.
Looking ahead to next week we are observing an extremely oversold market. After such a fall, it is not expected that the market would hang at the support level, more likely is another step down to support zone near 600 points and then a rebound near 650 points to the 38% Fib retracement level of the recent decline.
Performance of different groups of Digital Assets (Coins and Tokens)
On the table below, you can see that middle-sized digital assets by market capitalization were the worst performing group last week. The market cap of each asset in this index spans from $10 million to $60 million. NWSM200 lost by 20.20% last week. All group of tokens and coins are lover than they were before one week. Our total (NWST1100) and overall (NWSOI) indexes have plunged by almost 15% since November 9th.
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 average global equity represented by Dow Jones global index W1Dow. As you can see crypto has performed better than equity since September 12th but in the last week crypto plummeted, so global equity performed better than crypto. Crypto vs. global equity is at the same low level as it was in September.
Indexes Revision 11-16-2018
The weekly revision update both, the amount of each asset publicly available and any additions and deletions from the indexes. On the tables below are additions and deletions from NWSL100 and NWSM200. As we can see on the tables MobileGo, Digitex Futures which were deleted from NWSL100 and Revain, MOAC which are new members changed their membership. Other weekly additions and deletions this week for the other indexes from the family are available here.
Winner new member
We select the new member in NWSM100 crypto index with the biggest jump in our ranking. We can see from the chart that in October Revain (R) performed much better than average coin or token which is a member of NWSL100 index. Revain last week showed improvement in project ranking system.
Revain (R) web
Revain is an impartial analysis system developed on blockchain network technology. August 21 will mark the Revain launch on the exchange market. Undoubtedly, the review industry is confronted with fake reviews or a five-star review on TripAdvisor which may change the course of business, so Revain aims to reinvent this system to guarantee legitimate reviews of well-known companies.
Revealing Revain’s best parts yet: in this article we go over one of the Revain's key features – project ranking system – and its importance. https://t.co/W5Rnf4vn4w
— Revain (@Revain_org) November 7, 2018