It’s been another great week for Bitcoin, up just over 20% in USD terms and coming once again at the expense of the majority of Altcoins. BTC Dominance climbed to just over 59% at one point, a level not seen since early December 2017, days before the biggest Alt season we’ve seen to date.
Although a good number of Altcoins rose over the week in USD terms, the number of winners versus BTC were almost non existent, with MATICBTC leading the charge, +17%. The bloodbath continued at the bottom end of the scale with many coins losing over 25% against BTC, with ATOM the worst off, -35%
Volumes were again an interesting indication of performance with the bottom 20 coins by volume losing an average of 19% to BTC, compared to the top 20 coins, losing only 9% on average, once again suggesting coins with higher volumes are more stable.
This week we have also included a Correlation Matrix at the bottom of this article, calculated using last weeks price data, and using this data we have then performed Linear Regression on the top correlated pairs, and displayed the most out of line ones with ATOMBTC looking by far the cheapest, compared to it’s pair DASHBTC. GL.
