View profile

Bitcoin Flexes Its "Digital Gold" Muscles

Revue
 
Welcome to the 41st issue of the QUANTAMIZE WEEKLY CRYPTO RECAP, your weekly roundup of all the crypt
 

Quantamize

April 12 · Issue #41 · View online
Quantamize Cryptocurrency Weekly Recap

Welcome to the 41st issue of the QUANTAMIZE WEEKLY CRYPTO RECAP, your weekly roundup of all the crypto news you need to know. At Quantamize, we are seeking to level the playing field for individual investors with AI-powered Multi-Factor models across multiple asset classes, including Cryptocurrencies. If you have any feedback on this weekly report please send us a note at suggestions@quantamize.com.

Every day at Quantamize, we track the top stories that affect cryptocurrencies and the emerging blockchain ecosystem. At the end of the week, we review all the news to give you a clear picture of what was most important.


VIDEO: Bitcoin Flexes Its "Digital Gold" Muscles
Great Trades, Great Data, Always Free!
Declining NVT Ratio Suggests Bitcoin could be a Value Buy
The Week in Review
Cryptocurrencies are poised to finish largely in the red in a week where Bitcoin (BTC) displayed its sought-after trait as “Digital Gold” and moved against the broader market, preserving gains of 138 basis points – bulls supported the benchmark coin at the $5,000 price level and it currently trades just below $5,100. Among the 20 largest cryptocurrencies by market capitalization, 12 fell by more than 5% while 4 fell in excess of 10%.  

As BTC trades for its second week above $5,000, crypto investors are beginning to see glimmers of hope that indicate an extended rally may be forming. In Diar’s crypto newsletter this week, the publication noted that trading volumes of institutional crypto products, relative to total crypto trading volume, have increased in every month since the start of 2019! Also this week, CME group noted that daily trading volume of BTC Futures reached an all-time high on April 4th, when more than 64,000 BTC worth of futures contracts were traded. These two data points, paired with the halving of BTC mining rewards approaching in 2020, may combine to support the thesis of an extended rally in BTC! 

Of the 30 cryptocurrencies we model using AI and Machine Learning, 5 are positive for the week. Currently, 14 cryptocurrencies modeled by our Machine Learning algorithms are rated as “Buy”. Nearly all of these models have accuracy scores above 60%!

If you’re a cryptocurrency trader, Quantamize’s AI Machine Learning 3-Day Crypto Trading Signals were updated three times this week, most recently Thursday. We model 30 cryptocurrencies and produce directional “Buy”/“Do Not Own” trading signals that help cryptocurrency traders navigate the crypto markets over the short term. You can find a screenshot of our Crypto Signals below. A few highlights include:

  • Bitcoin (BTC) –Do Not Own with an accuracy rate of 62.28%
  • Bitcoin Cash (BCH) – Buy with an accuracy rate of 67.00%
  • EOS (EOS) - Buy with an accuracy rate of 62.11%
  • Ethereum (ETH) – Do Not Own with an accuracy rate of 57.63%
  • Ethereum Classic (ETC) - Buy with an accuracy rate of 63.38%
  • Litecoin (LTC) – Do Not Own with an accuracy rate of 65.13%
  • Ripple (XRP) – Do Not Own with an accuracy rate of 62.29%

Great Trades, Great Data, Always Free! Click Above!
The Unprecedented Success of Binance and Binance Coin (BNB)
Comparing Sent From Addresses vs. % of Supply Held by Top 100 Addresses in Top Cryptocurrencies
Quantamize Weekly Crypto Headlines Recap
Great Trades, Great Data, Always Free! Click Above!
Is a big bitcoin resurgence on the horizon?
Jamie Dimon Testifies About Cryptocurrencies
Cryptocurrencies Are ‘Clearly Shaking The System'
Great Trades, Great Data, Always Free! Click Above!
Did you enjoy this issue?
If you don't want these updates anymore, please unsubscribe here
If you were forwarded this newsletter and you like it, you can subscribe here
Powered by Revue