In the last week, digital assets fell. In fact, this would be considered a normal pullback if there was no news at all. Market discounted quickly that Bitfinex has been under investigation by the NY State Attorney’s office. Total (NWST1100) index fell by 5.06%. BitMax (BTMX) is the NWSL100 crypto index member which made the biggest jump in our ranking. We gauge the crypto market breadth and direction of the market by showing charts 2100NEWS Digital Assets Total Index (NWST1100) which represent top 1100 Digital Assets. The chart which is full of indicators, overlays, annotations and is 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. This layout is for an experienced user the basis of the forecast about the most likely direction of the market.
We can see on the (NWST1100) chart, that digital assets fell. In fact, this would be considered a normal pullback if there was no news at all. Market discounted quickly that Bitfinex has been under investigation by the NY State Attorney’s office for FRAUD which is a big word but may be more smoke than fire. We were observing a falling flag pattern past three weeks. The up momentum was lost and the crypto markets experienced a sideways trend.
Looking ahead to the next week. The indicators give us the following signals: we can see that RSI is neutral, the PPO wave could go down, PPO histogram could be still negative in the next few days. Breadth indicator McClellan summation index is falling, ADVP a breadth statistic based on Net Advancing Volume is near zero. This set up means that is likely expected markets to continue previous moving in “falling flag pattern”. On the other hand, target up is strong, important resistance which is on the chart marked with the green dashed line.
Performance of different groups of Digital Assets (Coins and Tokens)
Looking at the table, you can see that Total (NWST1100) index fell by 5.06% in the last week. In the last two weeks NWSBE rose by 2,37%, tokens represented by 2100NEWS DA Ethereum Based Index (NWSET100), fell by 12.30%. At the chart below we can see that NWSET100 compared with NWSBE experienced a correction after a big move up in the last two months. In the last three weeks, the best performers were Bitcoin and Ether. They gained about 20% vs. the average Coin represented by NWSCo100 index.
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. This year average crypto vs. W1Dow rose about 15%, last quarter crypto had much better performance than global equity.
Indexes Revision 4-26-2019
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 NWS30, NWSL100, and NWSM200. As we can see on the tables OKEX utility token, Gatechain token, Cosmos… have improved their rankings they were added to NWSL100 and deleted from NWSM200. Hcash, TTC Protocol, Loopring… were deleted from NWSL100. They are new members of NWSM200. New mid-caps are Coinex, DigitalNote, Blocknet… Other weekly additions and deletions this week for the other indexes from the family are available here.
We select the member in the NWSL100 crypto index with the biggest jump in our ranking. We can see from the chart that BitMax (BTMX) price performance has soared by 40% vs. average coin or token which is a member of NWSL100 index in the last 10 days.
BitMax Token (BTMX)
2100NEWS ranking: 83, Large cap Ethereum based Token, Index member: NWST1100, NWSL100, NWSTo100, NWSET100
BitMax is global operator of digital asset exchanges for diverse groups of clients from retail to institutions. Its native digital cryptographically-secured utility token 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.