See red? FUD that!This is something you should buy last week instead of Bitcoin
We have argued many times in the past that the correlation between the price of Bitcoin and the market value of hundreds of altcoins is meaningless.
Whether you agree that Bitcoin is digital gold, a payment mechanism, or both, it does not have much in common with the native trading tokens of Ethereum, Shiba Inu, or FTX.
Well, whether we like it or not, the large fluctuations in the price of Bitcoin define the crypto market.
The cryptocurrency market has been growing almost uninterruptedly for six consecutive weeks before Bitcoin fell from its latest historical high above $68,000 to the $55,000 area last week, dragging down most altcoins.
But once the market turns red, just like last week, many traders tend to succumb to three old enemies: fear, uncertainty, and doubt (FUD).
This is why we say: FUD that. Experienced cryptocurrency traders know that the correction period can also bring profit opportunities.with Cointelegraph Markets Pro My own VORTECS™ Score found 6 of the 10 best performing altcoins last week, even if the market fell sharply.
Unparalleled bull market, similar correction?
VORTECS™ Score is a machine learning-based trading algorithm that compares the history and current market conditions of the digital asset market to help crypto traders make decisions.
The model uses a series of quantitative indicators-including price changes, social sentiment and trading activity-to arrive at a score that is used to assess whether the current status of more than 200 cryptocurrencies is historically bullish, neutral or bearish.
In the next 12-72 hours, a VORTECS™ score of 80 or above is considered confidently bullish. Assets that reach such a score show the arrangement of key transactions and social variables that occurred in the past before the price rose sharply.
The table below shows 10 altcoins that achieved significant investment returns between November 11 and 18-Bitcoin plummeted from $68,000 to $58,000 this week.
Bold are those tokens that achieved a VORTECS™ score of 80 or higher before reaching the highest price of the week.
Six best crypto trading opportunities
Six out of ten of the best performing assets this week exhibit patterns of trading and social behavior, and they were very similar to historically bullish portfolios before they rose.
- Sandbox (SAND)
- Crypto.com coin (CRO)
- Voyager (VGX)
- Koinos Network (KOIN)
- Empty Exchange (AST)
Given the total number of tokens generated, six out of ten are important any The benefits are very limited.
What is its view on the nature of the crypto market? When things are bullish, altcoins can rise for countless reasons, usually just because of a favorable macro environment and market prosperity.
However, when most markets fall, analysis shows that tokens supported by strong trading activity and high social sentiment are most likely to buck the trend.
This is also the time when traders most need reliable data analysis to provide information for their strategies. When the floor is lava, it helps to have an additional pair of algorithmic eyes to sift through millions of data points to identify potential safe havens.
This is exactly VORTECS™ score Be trained to do it.
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 with 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.