When you think about Cryptocurrencies, one name immediately comes to mind, Bitcoin. Since the creation of Bitcoin, there has only ever been one cryptocurrency at the top of the market cap rankings…Bitcoin.
When the price of Bitcoin rises, generally you can expect altcoin prices to rise with it. Likewise, when the Bitcoin price drops, altcoins also follow. And sometimes when Bitcoin is rising, the altcoins are declining due to cash moving from the altcoins to Bitcoin and vice versa.
Bitcoin dominance is used to measure the percentage of the cryptocurrency market that can be attributed to Bitcoin. Thus, it’s very easy to determine the relative strength of Bitcoin at any point. Not the case for the altcoins…until now. I have taken the more popular altcoins and determined their relative strength, relative to Bitcoin using just moving average.
Binance
EOS
Ethereum
Litecoin
Neo
Steem
Tron
Zcash
Based on the moving averages and the last daily closing price, relative to the moving averages,
the altcoins relative strength, relative to Bitcoin are the following:
Two Weeks Ago
This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions.
As the oil major BPis expanding its footprint in EV charging, the company has stated it is focusing on reducing charging times, “…to have a battery in a car by 2021 that can be charged completely in five minutes – for a lot more than 100 kilometers”.
After its acquisition of BP Chargemaster for US$170m, BP is now in the process of installingultra-fast EV chargers at service station in China, Germany, and the UK.
BP is also investing in biofuel development, as it considers the technology to be “the best way of decarbonizing long-distance jet transport”.
Analysis and Comments
This level of super fast charging is the holy grail of EVs. As cost comes down, and as the charging network grows, the last big barrier to overcome is the inconvenience of the time it takes to charge.
This shift, if achieved, could open up the EV market to those city dwellers who don’t have off street parking (so no easy home charging option).
To be clear, the BP target is just that; a target. The article claims, that the technology from a BP investment in an Israeli company called StoreDotalready allows ultra high speed charging of mobile phones but the EV version seems to be work in progress.
The technology (FlashBatteries) seems to be a combination of the use of organic compounds in the cathode (plus Silicon?) and some form of capacitor technology (those of you with good memories will recall that Tesla recently purchased Maxwell Technologies – a global leader in ultra and super capacitors).
Normally, I would be sceptical about such claims – the “we have found a way of producing super batteries” story appears on a regular basis in the tradepress. But with BP money behind them, perhaps this approach has a future.
Instead of looking at financial markets or asset classes on an individual basis, intermarket analysis looks at several strongly correlated markets or asset classes, such as stocks, bonds and commodities. This type of analysis expands on simply looking at each individual market or asset in isolation by also looking at other markets or assets that have a strong relationship to the market or asset being considered.
The US economy is still the largest in the world and the US dollar is still the most powerful currency in the world. Over half of all foreign currency reserves in the world are in US dollars. Thus, the asset classes relative strength will be compared to the US Dollar.
Bitcoin
30 Yr Bond
Copper
Euro Dollar
Gold
Oil
Soybeans
S&P 500
Based on the moving averages and the last daily closing price, relative to the moving averages,
the asset classes’ relative strength, relative to the US Dollar are the following:
Two Weeks Ago
This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions.
In Elliott Wave terms, Abyss began a wave one advance on May 14. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on June 9, and the red wave two (blue sub-waves a-b-c) correction ended on July 21. If this wave count is correct, Abyss should be heading next towards the June 9 peak in the red wave three.
The Standard & Poor’s 500 Index (known commonly as the S&P 500) is an index with 500 of the top companies in the U.S. Stocks. Because the S&P 500 Index represents approximately 80% of the total value of the U.S. stock market, it’s the bellwether index for the U.S. stock market. In addition, the U.S. stock market is the largest stock market in the world, it’s also the bellweather for equity markets around the world. The S&P 500 is arguably the most important stock market index on the planet.
Because we live in a global economy, the global equity markets interconnected and highly correlated. However, some will outperformance other in the short term and long term. When constructing an equity portfolio, for the best returns one needs to have the ability and the capacity to assess all the major equity markets around to asset allocation purposes. However, the first step is to determine the relative strength of the major equity markets, relative to the bellweather, the S&P 500.
DAX (Germany)
Dow Jones (US)
FTSE 100 (England)
Nasdaq (US)
Nifty 50 (India)
Nikkei 225 (Japan)
Shanghai (China)
Russell 2000 (US)
Based on the moving averages and the last daily closing price, relative to the moving averages,
the world equity markets’ relative strength, relative to the S&P 500 are the following:
Two Weeks Ago
This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions.
A little quieter across the cryptosphere this week. Price action has been mostly compressed with BTC trying and repeatedly failing to hold 10K. Market volume has dropped substantially, so expect big moves on thin trade – a tough spot from which to profitably day trade.
You’ve probably had a better week than Justin Sun. Bearish for Tron? In the short-term – certainly. The Warren lunch, always a vanity project has backfired bringing yet more negative attention to crypto. Having said that, nothing new in such coverage. Putting my seer’s cap on – mainstream coverage of crypto is set to veer positive in coming months as large institutions such as Bakkt rollout out crypto-related financial services.
Picks of the Week
The ‘Off the Chain’ podcast discussing the obvious signs of global market strain is a standout this week. In addition, the Q2 crypto report from Coin Gecko is a treasure trove of market data and analysis.
If you hold EOS or are interested in DPoS systems this is a must-watch as it’s full of interesting insights -for example, 6 exchanges occupy the top 21 BP positions (highly recommended):
The focus is on Forex but the advice is rock-solid and entirely applicable to trading crypto (highly recommended):
A highly original thinker in the crypto space – discussing the roots of the next possible financial crisis and the probable implications for BTC:
Infographic
BTC supply is being increasingly hoarded (after a substantial sell-off in 2018):
I learned a lot this week and hopefully, this recap proves worth the investment of your time. As always, looking forward to your comments and suggestions.
Note on Sources:
Twitter & Reddit (cryptos current meta-brains) / Medium / Trybe / Hackernoon / Whaleshares / TIMM and so on/ YouTube / various podcasts and whatever else I stumble upon. The aim is a useful weekly aggregator of ideas rather than news. Though I try to keep the sources current – I’ll reference these articles and podcasts etc. as I encounter them – they may have been published just a couple of days ago or in some cases quite a bit earlier.
Sector rotation is the action of shifting investment assets from one sector to another to take advantage of cyclical trends in the overall economy in an attempt to beat the market. Sector rotation seeks to capitalize on the theory that not all sectors of the economy perform well at the same time because sectors of the stock market perform differently during the phases of the economic and market cycle.
For example, defensive sectors such as consumer staples, utility and health care stocks tend to outperform during a recessionary phase, while consumer discretionary and tech stocks tend to fare well during early expansions.
When you trade, you want the strongest stocks in the strongest sectors, which is why you should monitor sector performance carefully. With that said, lets determine the relative strength of the sectors relative to the S&P 500 ETF, SPY for the upcoming week.
Communication Services (XLC)
Consumer Discretionary (XLY)
Consumer Staples (XLP)
Energy (XLE)
Financials (XLF)
Health Care (XLV)
Industrials (XLI)
Materials (XLB)
Real Estate (XLRE)
Technology (XLK)
Utilities (XLU)
Based on the moving averages and the last daily closing price, relative to the moving averages,
the SPDR sectors’ relative strength, relative to the SPY are the following:
Two Weeks Ago
This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions.
Let the fun begin for those of us in the United States. According to a notice by the Internal Revenue Service (IRS) more than 10,000 people will be receiving letters to educate them on their tax liability on cryptocurrency transactions.
Here is a quote from the notice:
“Taxpayers should take these letters very seriously by reviewing their tax filings and when appropriate, amend past returns and pay back taxes, interest and penalties,” said IRS Commissioner Chuck Rettig. “The IRS is expanding our efforts involving virtual currency, including increased use of data analytics. We are focused on enforcing the law and helping taxpayers fully understand and meet their obligations.”
There are three variations: Letter 6173, Letter 6174 or Letter 6174-A, all three versions strive to help taxpayers understand their tax and filing obligations and how to correct past errors.
The letters will begin going out toward the end of August. Let me know in comments if you end up getting one of these letters.
Bitcoin dropped below a major ascending support line earlier today. It’s now sitting on top of known support at $9,400. Is it possible price is painting a larger bullish falling wedge?
In today’s video we’ll discuss where price may be heading next, key areas to watch and so much more. I hope you find it helpful.
I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading.
Some of the world’s currencies are accepted for most international transactions. The most popular currencies are accepted for most international transactions are the U.S. dollar, the euro, and the yen. However, the U.S. dollar is the most popular.
And in the foreign exchange market 90 of forex trading involves the U.S. dollar. Thus, when assessing the relative strength of the most popular currencies in the world, it’s always against the U.S. dollar, using the dailytime frame chart.
The “major” forex currency pairs are the major countries that are paired with the U.S. dollar (the nicknames of the majors are in parenthesis).
AUD/USD – Australia dollar (Aussie) vs. the U.S. dollar
EUR/USD – Euro vs. the U.S. dollar
GBP/USD – British pound (Sterling or Cable) vs. the U.S. dollar
NZD/USD – New Zealand dollar (Kiwi) vs. the U.S. dollar
USD/CAD – U.S. dollar vs. the Canadian dollar (Loonie)
USD/CHF – U.S. dollar vs. the Swiss franc (Swissie)
USD/JPY – U.S. dollar vs. the Japanese yen (the Yen)
Based on the moving averages and the last daily closing price, relative to the moving averages,
the currency relative strength relative to the US dollar is the following:
Two Weeks Ago
This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions.
