Sunday, January 5, 2014

Bullish start for crypto currency

BTC/USD
The recent apparent crash of alt crypto currencies may have some worried. However, it has been noted by many astute observers, that as BTC rises, Alt-Cryptos tend to fall but ultimately retain their previous value in fiat currencies. Let's take a quick look at recent market activity to confirm that this is indeed the case. In the first chart at the top, we can see a dramatic rise in BTC price during the first week of 2014. Certainly this can only be a good sign for an upcoming bullish year for BTC.

LTC/BTC
During the same time period we can see the LTC/BTC spread fall. But, before holder's of LTC panic, they should consult the LTC/USD chart below which confirms that the value of LTC in USD has actually risen modestly over the same period.


LTC/USD

Another very actively traded Alt-Crypto is WDC.  In the following chart we can observe the spread between WDC/BTC fall.

WDC/BTC
 Below we can confirm that WDC also experienced an actual increase in total value.

WDC/USD

We can quantify the market movements in the first week of Jan 2014 as follows:

  • BTC $740  - $907   [+18.4%]
  • LTC $23.5 - $26.58 [+11.5%]
  • WDC $0.46 - $0.49  [+06.1%
This is a good start to 2014 for crypto currencies. We leave further interpretation of these numbers as an exercise for our prodigious readers.

Best of luck trading!

1 comment:

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