Sunday, January 5, 2014

Bullish start for crypto currency

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.

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.


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

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


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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