Last week, NWST1100 soared 14.90%; Bitcoin price went vertical and hit a new high. Celsius (CEL) Token is a member of the NWSL100 crypto index that made the biggest jump in our ranking over the last two weeks.
*We gauge the crypto market breadth and direction of the market by showing charts 2100NEWS Digital Assets Total Index (NWST1100), representing the top 1100 Digital Assets. The information-laden chart is difficult to read initially, but the chart shows key price information, important decisive price levels, momentum, trading volumes, and crypto market breadth.
The previous report showed that our assumption for last week had been: a sideways trend was more likely; however, the Christmas rally may continue, and after Bitcoin and Ether, some altcoins would move higher. The NWST1100 chart shows that the Christmas rally continued. At the top, we see momentum indicators: PPO lines, RSI, and PPO histogram continued direction.
Since this is the latest report of the year 2020, we briefly evaluate crypto markets. The average index price over the last twelve months is 1025. The volume profile is an advanced charting Indicator on the left side of the chart. It displays trading activity and plots a histogram on the chart, revealing dominant and significant price levels based on volume. It shows that the vast majority of volume was made between 700 and 1300 points. The crypto markets were dominated by growth for the first two months. In March, the COVID caused the collapse; crypto markets experienced a huge sell-off and fell more than equity. The progress of existing projects based on Ehtereum (especially DEFI) convinced investors. The Intermarket relationship chart below shows that their tokens led the crypto markets (NWSET index) in July and August (marked with a green ellipse). Since September, Bitcoin has been undergoing some really massive bullish action, and Bitcoin price was making one of the largest price leaps in its 10-year lifespan. In November, PayPal’s announcement that in 2021 will allow payments with crypto greatly increased attention to Bitcoin and the crypto markets. Intermarket relationships show a predominance of DEFI in July and August, followed by a period when bitcoin began to increase its dominance, especially in the Christmas rally.
Outlook for this week
Looking ahead, the Momentum indicators give us the following signals: the RSI is 80 (overbought and bullish); PPO lines and PPO histogram bars may change direction (down) in the coming days. The Breadth indicators at the bottom of the chart may flatten out. NWSBE price has already gained by 50% since the beginning of December, so a pullback would be reasonable to expect. My opinion is based on this constellation: a sideways trend is more likely; a 10% rise or 20% fall from this level is equally likely. Crypto markets will be extremely volatile, full of abrupt turnarounds, with up to 20 percent falls and further rebounds.
Performance of different groups of Digital Assets (Coins and Tokens)
The total (NWST1100) index soared 14.90%. The table below shows that the Bitcoin and Ether represented by the NWSBE index recorded massive gains over the last week.
Crypto (Digital Assets) compared with global equity
We have already shown the superiority of crypto investments as a new investment class. The chart compares the performance of the average represented by our NWST1100 Digital Asset index with the average global share represented by the Dow Jones global W1Dow index. Last week a new record high was hit. The Percentage Change Marks on the chart show that last year NWST1100 outperformed W1Dow by 220%. The blue curve is the average index price over the last twelve months. We can see that the NWST1100 spot price and W1Dow price are above average, but the NWST1100 spot price is 127.6% higher than twelve months index average price. This means: If we bought one NWST1100 every day over the last twelve months, our investment is recording 127.6% gains today.
*The box in the middle of the chart shows the original NWST1100 price; at the bottom of the chart is W1Dow.
Indexes Revision 1-1-2021
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 NWS30, NWSL100, and NWSM200. As we can see on the tables: Celsius and Chiliz have improved their rankings; they were added to NWSL100, they were deleted from NWSM200. Swipe and NEST Protocol were deleted from NWSL100, and they are new members of NWSM200. New mid-caps are 1inch, Livepeer, Akash Network… Other additions and deletions this week for the other indexes from the family are available in each index presentation.
We gauged the Celsius (CEL) Token with 2100NEWS Digital Assets 100 Large Cap Index (NWSL100) to make an appropriate peer comparison. On average (violet area chart), the relationship between CEL and NWSL100 has shown that it was stronger. CEL has beaten NWSL100 by 181% over the last three months. However, if we compare the CEL green area graph with the orange index area graph while observing the correlation graph, the correlation graph explains that the correlation is semistrong (Pearson’s correlation coefficient = 0.64). 85% of the time, it was moving in the same direction as the NWSL100, so it has been a good representative of the NWSL100 index in terms of price changes.
*We elect the member of the NWSL100 crypto index with the biggest jump in our ranking. We will look at how the market rates the progress of the project in case of price changes. It seems important to us whether the project is out of the ordinary tide of crypto project prices. Considering an investor’s point of view, peer comparison should be efficient and effective.
Celsius (CEL) Website: https://celsius.network
CEL Large-Cap Ethereum based Token is 90th in the 2100NEWS ranking. It is an Index member: NWST1100, NWSL100, NWSTo100, NWSET100
2100NEWS DA Orderbook Quality Evaluation Grade: Poor, 11.5 (Average for Largecaps: 17.1)
Over the last week, the average market cap was 1,590.1 million $, and the average daily volume was 18.1 million $.
Celsius Network is a democratized interest income and lending platform accessible via a mobile app. Built on the belief that financial services should only do what is in the community’s best interests, Celsius is a modern platform where membership provides access to curated financial services that are not available through traditional financial institutions. Crypto holders can earn interest by transferring their coins to their Celsius Wallet and borrow USD against their crypto collateral at interest rates as low as 4.95% APR.
*The chart below shows the CEL compared to NWSL100 at the top, the box in the middle of the chart shows the original CEL price, and at the bottom of the chart, we see NWSL100 and the correlation between CEL and NWSL100.