Overview Bitcoin SV
Released bi-weekly, this report aims to identify broad trends in the cryptocurrency market. In order to reflect the latest developments in this fast-paced and volatile market, the reports plan to focus on metrics derived from a 30-day rolling window of data, this time from May 11, 2019 to June 9, 2019.
Our universe of analysis includes 50 of some of the most widely used and traded cryptocurrencies. Please see Appendix A for the complete list.
The performance of major cryptocurrencies over the past month was good, with 44 out of the 50 cryptocurrencies that we examined up from their values 30 days ago. Bitcoin (BTC), the largest cryptocurrency by market capitalization, is currently trading slightly about $8000 at the time of writing. Bitcoin SV
Outside of cryptocurrencies, the S&P 500 is down 0.28% from 30 days ago and closed last Friday at $2873.34.
Figure 1 presents the risk versus return trade-off over the past 30 days by plotting mean daily return versus historical daily volatility for various cryptocurrencies.
The best performer overall over the past month was Bitcoin SV (BSV), with a total return of 232.00%. Bitcoin SV was created last November after a hard fork to Bitcoin Cash. It aims to restore the original Bitcoin protocol, closely following the concept as described in Satoshi Nakamoto’s white paper.
Basic Attention Token (BAT) was the worst performing cryptocurrency, with total losses of 7.66%. Basic Attention Token is a digital advertising token used to connect advertisers, content publishers, and content users. It is intended to monetize and reward user attention while also providing advertisers with better ROI.
- Simple moving averages (SMA) with periods of 50, 100, and 200 days
- Relative strength index (RSI) with a period of 14 days
- Moving average convergence divergence (MACD) with a fast EMA period of 12 days, slow EMA period of 26 days, and a signal period of 9 days
The 50-day simple moving averages for Bitcoin and Ethereum continue to stay above the 100-day moving averages, a continuation of a long-term bullish signal. In addition, the 50-day simple moving average for Bitcoin SV just crossed above the 100-day moving average in May. This is the start of a long-term bullish signal.
The RSI values of three cryptocurrencies crossed below the 70 overbought threshold from above at various times over the past month; a bearish signal that indicates that upwards momentum has ended. The RSI values are now in between 30 and 70, indicating that they are neither overbought or oversold.
For Bitcoin and Ethereum, the MACD line crossed below MACD signal line around the end of May, and in the case of Bitcoin SV, this just happened on June 8. This is known as a bearish crossover and can also be interpreted as a bearish signal.
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Source: Coinscious : Bitcoin SV Stays On Top – Total Return of 232% In Past Month
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