Admittedly, the last few days have not been not the most pleasant time for crypto traders as the price of Bitcoin (BTC) price fell short of breaking the $50,000 threshold, then slid to the low-$40,000 range and pulled the majority of altcoins down with it.
Despite this sharp downturn, a handful of tokens seemed to do much better than the rest of the market by posting weekly gains in their BTC and U.S. dollar-denominated pairs.
Some traders looking to rack up their Bitcoin holdings cannot be bothered to follow an altcoins’ price dynamics against the dollar. For them, BTC slumps like the recent one can be seen as a profit opportunity, but how does one tell what coins are likely to perform well when BTC is on its way down?
AVAX: Powered by the news
Avalanche (AVAX) has added 28.19% in its dollar pair and 43.46% against BTC over the past week. Furthermore, on Sept. 17, the price of AVAX rose from 128,600 satoshis (sats) to 153,600 sats on the news of a partnership between the Avalanche Foundation and DeFi liquidity hub Kyber Network.
As AVAX’s price was coming down from this first peak, the pattern of market and social conditions around the asset’s price movement, trading volume, tweet volume and sentiment began to strongly resemble the patterns observed in previous dramatic price increases.
This was indicated by the coin’s algorithmic VORTECS
Scores of 80 and above indicate the model’s high confidence that the pattern is consistent.
Indeed, several hours after the VORTECS
TRAC: A long turnaround
In the last seven days, OriginTrail’s Trace (TRAC) token has been up 6.02% against the U.S. dollar and 18.11% against Bitcoin.
On Sept. 16, social and market variables around TRAC formed a historically favorable arrangement, and the coin’s VORTECS
This turned out to be the case with TRAC’s price action this week. Roughly 70 hours after the peak VORTECS
COTI: Enough momentum to weather the storm
COTI generated an extra 12.55% against the dollar and 26.51% versus BTC this past week.
The coin’s VORTECS
While the VORTECS
Cointelegraph is a publisher of financial information, not an investment adviser. We do not provide personalized or individualized investment advice. Cryptocurrencies are volatile investments and carry significant risks including the risk of permanent and total loss. Past performance is not indicative of future results. Figures and charts are correct at the time of writing or as otherwise specified. Live-tested strategies are not recommendations. Consult your financial advisor before making financial decisions.