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Markets Pro sounds the alert as RUNE, DOGE and XRP skyrocket

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It’s been a spectacular week for the Cointelegraph Markets Pro VORTECS™ Score, which alerted subscribers to several of the top crypto asset price movers hours before the price began to climb.

DOGE analysis

Dogecoin (DOGE) has been the standout performer of the week, confounding analysts who look for fundamental strengths in an asset — the meme coin may not have much of a team, or a genuine use-case, but it has Elon Musk, Mark Cuban… and the support of their millions of fans.

Dogecoin crossed the 80 VORTECS™ line on the morning of April 13, when the price curve was still flat at around $0.073 (first red circle). Apparently, the model has recognized a familiar confluence of celebrity tweets and rising trading volume. Closer to the early hours of April 14, the price line followed suit, pumping all the way to $0.141 (first two red boxes in the graph).

And just as expected, after a rapid climb VORTECS™ anticipated a price decline (second red circle), as has happened many times in the recent past with Dogecoin. Although it was not particularly dramatic, a correction to $0.110 followed in several hours (third red box).

While the 7-day graph above, captured on April 15, demonstrates the VORTECS™ Score operating exactly as hoped, a later capture on April 17 (below) illustrates the limitations of any dynamic modeling algorithm entering unfamiliar territory.

The VORTECS™ Score includes sentiment analysis, tweet and trading volume, and price action as components of the algorithm — which are then weighted according to a proprietary formula based on how similar these are to historical conditions. If there is a similarity in these factors, the score will be higher when historical precedents have most consistently led to higher prices.

But with DOGE this week, there are almost no parallels in history — after breaking all-time highs, the coin just kept climbing. Since VORTECS™ was unable to see historic similarities to this rapid ascent, it stayed fairly neutral after the initial wave of buying (orange box).

XRP analysis

Ripple’s XRP cryptocurrency continued its glorious comeback this week after a series of mild setbacks for the Securities and Exchange Commission in their case against the company, making it to the Top Performers section of the second consecutive VORTECS™ report. On April 12, it entered a streak of dark green VORTECS™ scores at around $1.37. Some 12 hours later, it took off to eventually reach $1.93 (first and second red boxes).

RUNE analysis

THORChain recorded a series of high VORTECS™ values during downward price movement toward a low point of $10.67. Roughly 26 hours later, the price began climbing toward the subsequent high point of $16.46, a 54% improvement compared to the moment when the first dark green score was detected.

The IOST NewsQuake™

The April 13 announcement of a Binance staking promo featuring IOStoken carried the asset to a 53% price increase over 24 hours. Note how there are actually two NewsQuake™ symbols on the token’s VORTECS™ graph sitting close to each other. This is not a glitch: Although the substance of the news is nearly identical, one represents a Medium post by IOS Foundation, while the other marks a tweet from Binance’s official account.

In a game where minutes can make a difference, Markets Pro strives to deliver actionable news as soon as it becomes available. NewsQuakes™ are sourced from a real-time aggregation engine, collated from over a thousand primary sources every minute and analyzed by an AI algorithm to determine the historical significance of the news. NewsQuakes™ are trained on staking announcements, exchange listings and key partnerships, and because they are delivered without human intervention, they can often be the fastest way for market participants to learn about major events in the cryptocurrency space.

VORTECS™ Score testing results

Cointelegraph Markets Pro continues to track 42 separate live-tested strategies, using a simple method described here.

These strategies are based on time-based or score-based exits. For example, the current top-performing strategy since testing began is the Buy 90 / Exit after 168 hour strategy, which measures the price of an asset the moment its VORTECS™ Score crosses the 90 threshold, and then again exactly 168 hours from that initial measurement. The difference is the return on investment (ROI) that is recorded.

That strategy has delivered a ROI of 1,837% since January 5, which compares favorably to holding Bitcoin (87% ROI) or holding an equally-weighted basket of altcoins (470% ROI) over the same time period.

However, all strategies have blips — this week, strategies based on entrance points of 90 underperformed those with entry points of 80, illustrating that even the most advanced algorithms can pick a few duds from time to time.

Time-based strategies: All-time ROI

Score-based strategies: All-time ROI

Time-based strategies: Weekly ROI

Score-based strategies: Weekly ROI

Cointelegraph Markets Pro is available exclusively to subscribers on a monthly basis at $99 per month, or annually with two free months included. It carries a 14-day money-back policy, to ensure that it fits the crypto trading and investing research needs of subscribers, and members can cancel anytime.

Important Disclaimer

Cointelegraph is a publisher of financial information, not an investment adviser. We do not provide personalized or individualized investment advice. Cryptocurrencies are volatile investments and carry significant risk including the risk of permanent and total loss. Past performance is not indicative of future results. Figures and charts are correct at the time of writing or as otherwise specified. Live-tested strategies are not recommendations. Consult your financial advisor before making financial decisions. Full terms and conditions.



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Price analysis 5/5: BTC, ETH, BNB, DOGE, XRP, ADA, DOT, LTC, BCH, UNI

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Bitcoin is trying to stage a comeback in order to catch up with the spectacular price action seen in Ethereum and other altcoins.



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Bitcoin back above $57K as ‘hundreds’ of US banks prepare to HODL for clients

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Bitcoin (BTC) staged a characteristic comeback on May 5 as a day of losses turned around in a flash.

BTC/USD 1-hour candle chart (Bitstamp). Source: Tradingview

BTC price nears $58,000

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD passing $57,000 again during Wednesday trading, with daily gains knocking on 5%.

The move marks Bitcoin’s second such “comeback” in a week. While the bearish trend reset, analysts were keen to see how much fuel Bitcoin had accumulated after dipping to near $53,000 overnight.

For Philip Swift, co-founder of trading suite Decentrader, fundamental indicators still pointed to a continuation of the longer-term bull market.

“I continue to think that Bitcoin will not crash and is more likely to range before breaking out to the upside,” part of a series of tweets read on the day.

“Many other indicators suggest $BTC has much more upside and the cycle is not over.”

Swift specifically noted that one tool, the Pi Cycle Top indicator, had “nailed” Bitcoin’s most recent all-time high of $64,500 in April. As Cointelegraph reported, Pi has become increasingly popular for those tracking BTC price trends over successive years.

At the time of writing, BTC/USD circled $57,200, ruminating after reaching local highs of $57,400.

No plain sailing for altcoin bagholders

Hodlers thus received a welcome response from the largest cryptocurrency, which had spent much of the week being humiliated at the hands of a surging altcoin market.

Among the astonishing movers were tokens such as Dogecoin (DOGE) and Ethereum Classic (ETC), the latter having laid dormant for much of the past three years since the end of the previous broad “alt season.”

Words of caution, veiled or not, were nonetheless not in short supply, as Bitcoin proponents warned about the fickle nature of such parabolic altcoin moves.

Acting in Bitcoin’s favor meanwhile was news that it would be supported by “hundreds” of banks in the United States in 2021, along with investment giant Grayscale becoming a sponsor of NFL team the New York Giants. 

“What we’re doing is making it simple for everyday Americans and corporations to be able to buy bitcoin through their existing bank relationship,” said Patrick Sells, head of bank solutions at crypto custody firm NYDIG, which is behind the scheme, revealing the scale of the rollout to CNBC.