QuadrigaCX CEO Set Up Fake Crypto Exchange Accounts With Customer…
Central Bank of Russia will Hold Bitcoin [BTC] Reserves Predicts…
Japan’s Line Reportedly Close to Obtaining FSA License for Japanese Crypto Exchange
Exchanges Are Exchanging In-House Tech With Service Providers?
Ace VPN Review: More Cons Than Pros?
HideMyAss Review – Fast Speeds, but Privacy Concerns
StrongVPN Review: Secure, No Logs VPN, but Some Drawbacks
VPN Gate Review: Free VPN, but Privacy Issues
Facebook’s Crypto Libra May Kill Launch in India, Its Biggest Market: Report
Electronics Giant Samsung Prioritizes Blockchain in 10-Year Roadmap
Can Facebook’s Libra Influence Bitcoin Price?
QuadrigaCX CEO Set Up Fake Crypto Exchange Accounts With Customer Funds
‘Dead’ CEO Cotten Embezzled Funds For Years
Bitcoin Price Rally Stalls as Open Futures Hit Record Highs
Former Circle Exec Joins Royal Bank Of Scotland To Front Fintech Project
Facebook’s Calibra Digital Wallet Will Not Be Available in Its Largest Markets
Italy will Use Blockchain and Fintech for Interbank Checks
PoPermissionless Blockchain Network Algorand Raises $60M in Token Auction
‘We Don’t Deal in the Speculative’
Russian Hackers May Be Responsible for Coincheck Heist
Crypto Market Showing Positive Signs: Bitcoin Cash, EOS, TRX, ADA Analysis
Tyler Winklevoss: “If Bitcoin Breaks 10k, You Can Bet It’s Going To Break 15k”
QuadrigaCX Update: ‘Dead’ CEO Cotten Embezzled Funds For...
IBM Launches Upgrade of their Blockchain Platform
Japanese Agency Claims 170% Increase in Crypto-related Inquiries in 2018
Bitcoin SV Stays On Top – Total Return of 232% In Past Monthopen_in_new
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. Twitter Facebook reddit Pinterest Hacker News LinkedIn Tumblr Google+ VKontakte Figure 1. Plot of mean daily return against historical daily volatility for individual cryptocurrencies from May 11, 2019 to June 9, 2019. Higher returns at a given level of risk, measured through historical daily volatility, indicates a better investment.
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.
The second and third best performing cryptocurrencies were Monacoin (MONA) and Chainlink (LINK), with total returns of 160.57% and 67.83% respectively.
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.
The second and third worst performing cryptocurrencies were Reputation (REP) and Bytecoin (BCN) with total losses of 5.89% and 1.28% respectively. Twitter Facebook reddit Pinterest Hacker News LinkedIn Tumblr Google+ VKontakte Figure 2a. Mean daily returns, historical daily volatility, total returns, and ex-post Sharpe ratio for each of the five cryptocurrencies with the highest total returns from May 11, 2019 to June 9, 2019. More positive Sharpe ratios are more desirable. The Sharpe ratio is calculated with the 10 year US Treasury bill rate as the annual risk-free rate.
Twitter Facebook reddit Pinterest Hacker News LinkedIn Tumblr Google+ VKontakte Figure 2b. Mean daily returns, historical daily volatility, total returns, and ex-post Sharpe ratio for each of the five cryptocurrencies with the lowest total returns from May 11, 2019 to June 9, 2019 More positive Sharpe ratios are more desirable. The Sharpe ratio is calculated with the 10 year US Treasury bill rate as the annual risk-free rate.
Figure 3 plots daily candlesticks of the prices of BTC and ETH, the two largest cryptocurrencies by market capitalization. We also show BSV the top performer this past month. In addition, the following commonly used technical analysis indicators are shown:
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. Twitter Facebook reddit Pinterest Hacker News LinkedIn Tumblr Google+ VKontakte Figure 3a. Price of Bitcoin (BTC) in USD at Bitstamp from May 11, 2019 to June 9, 2019.
Twitter Facebook reddit Pinterest Hacker News LinkedIn Tumblr Google+ VKontakte Figure 3b. Price of Ether (ETH) in USD at Bitstamp from May 11, 2019 to June 9, 2019.
Twitter Facebook reddit Pinterest Hacker News LinkedIn Tumblr Google+ VKontakte Figure 3c. Price of Bitcoin SV (BSV) at Binance in USD from May 11, 2019 to June 9, 2019. BSV
You can download a PDF version of this article here.
Twitter Facebook reddit Pinterest Hacker News LinkedIn Tumblr Google+ VKontakte
Source: Coinscious : Bitcoin SV Stays On Top – Total Return of 232% In Past Month
Disclaimer: CryptoCanucks.com is not intended to provide tax, legal or investment advice, and nothing on CryptoCanucks.com should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any asset by CryptoCanucks.com or any third party. You alone are solely responsible for determining whether any investment, asset or strategy, or any other product or service, is appropriate or suitable for you based on your investment objectives and personal and financial situation. You should consult an attorney or tax professional regarding your specific legal or tax situation.