Crypto investors are scratching their heads this week, as a key indicator suggests that Bitcoin is about to take center-stage once more — even as Cointelegraph Markets Pro subscribers had the opportunity to take major profits on altcoins such as Rally (RLY), Polygon (MATIC) and Ampleforth (AMPL).
Since Markets Pro was launched in January, the Altseason Analysis indicator has leaned heavily toward altcoins — and indeed, the performance of an evenly-weighted basket of the Top 100 altcoins has strongly outperformed holding Bitcoin since Markets Pro began tracking these metrics on January 3.
Holding Bitcoin: 74% return
Holding Top 100 altcoins: 432% return
Best-performing time-based VORTECS
Best-performing score-based VORTECS
The Altseason Analysis, developed for Markets Pro by data analytics firm The TIE, works similarly to the VORTECS
It compares current market conditions to those in the past, to assess whether the market currently looks more bullish for altcoins or bitcoin for the next 14 days.
Although the Altseason Analysis indicator has since swung back towards altcoins and Bitcoin’s market dominance has dipped below 50%, the market may be preparing for a surge in the largest cryptocurrency as investors rotate out of large cap alts and back into BTC.
However, the swing towards Bitcoin certainly hasn’t deterred crypto investors from seeking out altcoins for rapid profits.
Polygon (MATIC) Analysis
As seen in the chart below, on April 22, Polygon’s price was still searching for the floor between $0.30 and $0.40 when the VORTECS
Nothing would happen for the following three days as the overall market conditions remained neutral. Finally, early on April 26, MATIC’s favorable individual disposition fused with the reversal of the wider market, producing a run from $0.35 to $0.83 (first and second red boxes).
As the rally began, the VORTECS
Ampleforth (AMPL) Analysis
This week’s top NewsQuake
The announcement in question was the news of Binance listing FORTH, the governance token of the Ampleforth ecosystem, which is not yet tracked on Markets Pro. The main asset of the two-token system, AMPL, is tracked; this is the one that saw its price appreciate by one-third in the aftermath of the news.
As seen in the chart below, Markets Pro subscribers received the news of the FORTH listing via a dedicated Discord channel and in-browser notifications, just before a steep price ascent.
Rally (RLY) Analysis
Another conspicuous example of a well-timed NewsQuake
It is worth noting that the same announcement also featured the Bithumb listings of OCEAN and CHZ, yet it didn’t have nearly as much impact on these assets’ prices.
Listing announcements can have different effects on coins’ valuations depending on the size of the exchange and the asset’s market capitalization – another variable to be factored into NewsQuake
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