It is undeniable that the past few days have not been the most pleasant time for cryptocurrency traders, because the price of Bitcoin (BTC) has not yet broken the threshold of $50,000, and then fell to a low of $40,000, and pulled the price down. Part of the altcoin it.
Despite this sharp decline, a few tokens seem to perform much better than other markets, with their BTC and USD denominated currency pairs rising every week.
Some traders who wish to increase their Bitcoin holdings will not bother to pay attention to the price dynamics of altcoins against the U.S. dollar. For them, the recent plunge of BTC can be seen as a profit opportunity, but when BTC is falling, how to judge which tokens may perform well?
AVAX: Supported by the news
In the past week, Avalanche (AVAX)’s USD pair and BTC have risen by 28.19% and 43.46%, respectively. In addition, on September 17, the price of AVAX rose from 128,600 satoshis (sats) to 153,600 satoshis (sats). information A partnership between the Avalanche Foundation and Kyber Network, a DeFi liquidity center.
As the price of AVAX dropped from the first peak, the patterns of market and social conditions surrounding asset price changes, transaction volume, tweet volume, and sentiment began to be very similar to those observed when prices rose sharply.
This is indicated by the token’s algorithm VORTECS™ Score-this indicator is specifically used for CT Markets Pro Subscribers-more than 80, can be seen on the dark green line marked by a red circle on the chart.
A score of 80 points and above indicates a high degree of confidence that the model is consistent with the model.
In fact, a few hours after the VORTECS™ score line turned dark green, the AVAX rebound began again. It was weakened by the entire market crash in the early morning of September 20, but the personal bullish momentum of the token was so strong that it rebounded in less than a day, and it was trading at 156,900 seats on September 22.
TRAC: A long shift
In the past 7 days, OriginTrail’s Trace (TRAC) token has gained 6.02% against the US dollar and 18.11% against Bitcoin.
On September 16, a historically favorable arrangement was formed around the social and market variables of TRAC. The token’s VORTECS™ score reached 85 and the price was 852 sat. The algorithm is trained to detect conditions that have existed 12 to 72 hours before the previous rally, so sometimes price movements may appear within a few days of recording a favorable score.
It turns out that this is the case with TRAC’s price movement this week. Approximately 70 hours after the peak VORTECS™ score appeared, the tokens soared from 740 to 1088 in 24 hours. The market crash on September 20 caused losses to TRAC, but it recovered faster and more difficult than most cases, and ensured positive returns against BTC and the U.S. dollar each week.
COTI: Have enough motivation to get through the difficulties
Last week, COTI’s exchange rate against the U.S. dollar rose by 12.55 percent, and against BTC it rose by 26.51%.
The token’s VORTECS™ score briefly exceeded 80 on September 17, and in a rally, it rose from 668 seconds to 926 on Saturday. COTI’s momentum began to weaken before the sharp drop on September 20, when the asset’s trading price was about 800 seats earlier in the day. However, the strong market and social prospects discovered earlier ensured the stable recovery of assets: the token made up most of the losses in the next two days.
Although the VORTECS™ score is by no means a prediction of future price changes, it can alert investors to historical trends, which can be beneficially incorporated into trading strategies.
Cointelegraph is a publisher of financial information, not an investment advisor. We do not provide personalized or personalized investment advice. Cryptocurrency is an unstable investment and carries significant risks, including the risk of permanent loss and total loss. Past performance does not predict future results. The figures and diagrams are correct at the time of writing or otherwise specified. The strategy of real-time testing is not a recommendation. Before making a financial decision, consult your financial advisor.