2100NEWS WEEKLY CRYPTO REPORT
Written by Branko on January 7, 2019
In the 2100News weekly crypto report, we analyze and gauge the entire crypto market with 2100NEWS DA (Digital Assets) Indexes, Factor Indexes, and Crypto Market Breadth Indicators. Why should we even measure it? What is the ultimate goal? To understand why the crypto universe is as it is. In order to understand what we do, why we do as we do and where we go. The human being is since the prehistory, a researcher who wanted to know how things work, what is beyond what we see and know? There is something beyond that when we discover the laws of the functioning of the crypto universe in which we find ourselves.
In the last Weekly Crypto Report, I said that sideways trend will last for at least a couple of days and a very good indication would be if you see positive PPO and higher ADVL and Mc Clellan Summation Index. That happened. Sideways price action last ten days was due to the fact that the market did not have the energy (momentum) to become bullish (RSI <60). Technically, as you can see on the above chart and left PF chart 2100NEWS Digital Assets Total Index (NWST1100), inverse head and shoulders, bullish prediction pattern was forming. Redline (neckline) is an important support.
Looking ahead to next week. The market is always moving in the waves, the wave of PPO histogram shows that it can follow a few days of an extended positive wave because PPO headed into positive. Positive volume outweighs negative volume, that shows the buyers think that this is a buying opportunity. We use a combination of several methods and look for confluence. ADVL and McClellan summation index – Breadth indicators are slightly growing. Therefore, for the next few days, there is a greater likelihood that index value will move up to the target which is marked on the chart above. On the downside, there are supports between 420 and 440 points.
Performance of different groups of Digital Assets (Coins and Tokens)
Last week we saw consolidation in crypto markets. On the table below, you can see that two indexes with the highest volatility Coins (NWSCo100) and big-sized digital assets by market capitalization were the worst performing group last week. Total (NWST1100) index decreased by 1.1% last week.
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 since November 13th crypto has lost the ground vs. global equity. Last week crypto vs. W1Dow stayed at the same levels.
Indexes Revision 1-4-2019
The 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 that two groups changed their membership. Buggyra Coin, Dentacoin, Veritaseum, and Linkey have improved their rankings they were added to NWSL100 and deleted from NWSM200. ETERNAL TOKEN, Tenx, Bitcoin Private, and QuarkChain were deleted from NWSL100. They are new members of NWSM200. New mid-caps are Paragon, SounDac, Mobius… Other weekly additions and deletions this week for the other indexes from the family are available here.
We select the new member in NWSL100 crypto index with the biggest jump in our ranking. We can see from the chart that Buggyra Coin Zero (BCZERO) has performed better than average coin or token which is a member of NWSL100 index.
|2100NEWS ranking: 81, Large cap Ethereum based Token, Index member: NWST1100, NWSL100, NWSTo100, NWSET100|
BCZERO Coin is a platform for the future of funding for all kind of payments to the Truck Racing Community worldwide that is built on Top of the Ethereum blockchain. It will act as a payment platform for payment of Racing Series and Racing Events in China, India, Europe, Asea and South America, as well as for Sponsorships, Merchandising, and Racing Fans.