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Tag: index

Time To Be Fearful? Bitcoin Index Reaches Greediest Point Since Peak
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Data shows the Bitcoin fear and greed index has now reached the highest level since the peak in November as the price of the crypto rallies up.

Bitcoin Fear And Greed Index Now Points At “Greed”

As per the latest weekly report from Arcane Research, the BTC fear and greed index has surged to values of greed sentiment this week.

The “fear and greed index” is an indicator that tells us about the current general market sentiment among Bitcoin investors.

The metric uses a numeric scale that travels from one to hundred for representing this sentiment. All values above fifty signify that investors are greedy at the moment. While those below the cutoff suggest a fearful market.

Values above 75 and below 25, that is, the values toward the ends of the range, represent extreme greed and extreme fear, respectively.

Now, here is a chart that shows the trend in the Bitcoin fear and greed index over the past year:
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Looks like the value of the indicator has surged up recently | Source: Arcane Research's The Weekly Update - Week 12, 2022
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As you can see in the above graph, the Bitcoin fear and greed index has sharply risen over the past week. The indicator now has a value of 56, which shows the market is getting greedy.

This value of the metric is now more than in any other period in the year 2022 so far, and is the highest since the peak in early November of last year.

Related Reading | Glassnode’s RHODL Ratio May Suggest Bitcoin Market Is Near Capitulation

Historically, Bitcoin peaks have tended to happen while the sentiment is that of extreme greed, and bottoms have formed during periods of extreme fear.

There is a popular trading technique called “contrarian investing” that makes use of this fact. Traders following this methodology think that the best time to buy is during extreme fear, while extreme greed is when one should sell.

Related Reading | Bitcoin Weekly Momentum Flips Bullish For First Time In 2022: What Data Says

This famous quote by Warren Buffet sums up this philosophy: “Be fearful when others are greedy, and greedy when others are fearful.”

So, following the line of thinking of contrarian investors, the current market sentiment turning greedy may be a sign that you should now start getting fearful instead.

BTC Price

At the time of writing, Bitcoin’s price floats around $47.3k, up 12% in the last seven days. Over the past month, the crypto has gained 26% in value.

The below chart shows the trend in the price of the coin over the last five days.
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The price of Bitcoin seems to have surged up over the past few days | Source: BTCUSD on TradingView
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Featured image from Unsplash.com, charts from TradingView.com, Arcane Research
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March 30, 2022
Small Cap Index Lead Gains In February, But What Is Bitcoin Doing?
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Altcoins have been bigger winners than bitcoin in the recent recovery. Even though the latter led the recovery, the smaller cap coins have been making all of the waves in the space, outperforming other indexes and bitcoin included. All of this has pointed to an altcoin season after a purported ‘crypto winter’ and the gains recorded so far in February are additional proof of this.

Small Cap Index Takes The Lead

The whole of the crypto market had suffered from the downtrend that began in December. However, the second week of February had come to some reprieve with double-digit gains across bitcoin and all of the indexes. The small, mid, and large cap indexes have all returned gains so far, but the small cap has taken the leading, showing increased bullish momentum in the smaller cap altcoins.

Related Reading | Bitcoin Steadies Above $45k, US Inflation Comes In At 7.5% Year Over Year

Just two weeks into February, the small cap index has seen gains as high as 19%. This is a huge step-up for the index after it closed out January as the worst-performing index, seeing accelerated losses compared to its counterparts. The tables have now turned as the gains for the small cap index have been 4% higher than all of the others.
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Small cap index returns highest gains | Source: Arcane Research
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Bitcoin, the mid cap, and the large cap index all returned doubled-digit gains for January. Most of the gains recorded were from a single week that saw prices surge across the crypto market.

What About Bitcoin?

Bitcoin has no doubt also returned impressive gains for its investors in the same time period. It may not be as high as the small cap index but still remains one of the top gainers n the space. It follows the move of the market sentiment from extreme negativity back into the positive. Momentum picking up has also helped in this case.

Related Reading | JPMorgan Puts Bitcoin At $150,000 In The Long-Term, But What About Its ‘Fair Value’?

The Digital asset is now trading above its 20-day moving average but remains low on the 50-day average. At its current point, the next resistance for the asset to break lies at $45,240. However, a break above a second resistance point at $46,712 is what will really solidify its entrance into another bear rally. Until then, it will likely continue to hover between $43,000 and $44,000.
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BTC starts another recovery trend | Source: BTCUSD on TradingView.com
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On the support side, bitcoin’s break below $43,000 will see its next support at $42,790. Not a far-off point, but if it does not hold then another decline to $40,000 may be imminent.

Nevertheless, the digital asset has shown strong sell signals around the 50 and 100-day moving averages. Unless buyers make significant headway in holding up the price of bitcoin, bears are more likely to take over, pulling bitcoin into another stretched-out downtrend.
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Featured image from Forbes, charts from Arcane Research and TradingView.com
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February 12, 2022
Alchemy Pay (ACH) and Rai Reflex Index (RAI) are now available on Coinbase

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Starting today, Alchemy Pay (ACH) and Rai Reflex Index (RAI) are available on Coinbase.com and in the Coinbase Android and iOS apps. Coinbase customers can now trade, send, receive, or store ACH and RAI in most Coinbase-supported regions, with certain exceptions indicated in each asset page here. Trading for these assets is also supported on Coinbase Pro.

Alchemy Pay (ACH) is an Ethereum token that powers Alchemy Pay, a platform that enables payments using a wide variety of fiat and cryptocurrencies. Fees are paid using the ACH token and users can earn ACH rewards for purchases.

Rai Reflex Index (RAI) is an Ethereum token that aims to maintain a stable value. The RAI-USD exchange rate is determined by supply and demand while the protocol that issues RAI tries to stabilize its price by constantly de- or re-valuing it. The supply and demand mechanic plays out between two parties: SAFE users (those who generate RAI with their ETH) and RAI holders (those who hold, speculate on or use RAI in other protocols and apps).

One of the most common requests we hear from customers is to be able to buy and sell more cryptocurrencies on Coinbase. We announced a process for listing assets, designed in part to accelerate the addition of more cryptocurrencies. We are also investing in new tools to help people understand and explore cryptocurrencies. We launched informational asset pages (see ACH and RAI), as well as a new section of the Coinbase website to answer common questions about crypto.

Customers can sign up for a Coinbase account here to buy, sell, convert, send, receive, or store ACH and RAI today.

Please note: Coinbase Ventures may be an investor in the crypto projects mentioned here, and additionally, Coinbase may hold such tokens on its balance sheet for operational purposes. A list of Coinbase Ventures investments is available at https://ventures.coinbase.com/. Coinbase intends to maintain its investment in these entities for the foreseeable future and maintains internal policies that address the timing of permissible disposition of any related digital assets, if applicable. All assets, regardless of whether Coinbase Ventures holds an investor or Coinbase holds for operational purposes, are subject to the same strict review guidelines and review process.

This website contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of Coinbase, Inc., and its affiliates (“Coinbase”), and Coinbase is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. Coinbase is not responsible for webcasting or any other form of transmission received from any Third-Party Site. Coinbase is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by Coinbase of the site or any association with its operators.

Crypto is a new type of asset. Besides potential day to day or hour to hour volatility, each crypto asset has unique features. Make sure you research and understand individual assets before you transact.

All images provided herein are by Coinbase.

Alchemy Pay (ACH) and Rai Reflex Index (RAI) are now available on Coinbase was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

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August 3, 2021
Alchemy Pay (ACH), PlayDapp (PLA) and Rai Reflex Index (RAI) are launching on Coinbase Pro

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Starting Today, Monday August 2, transfer ACH, PLA and RAI into your Coinbase Pro account ahead of trading. Support for ACH, PLA and RAI will generally be available in Coinbase’s supported jurisdictions with certain exceptions as indicated in each asset page here. Trading will begin on or after 9AM Pacific Time (PT) Tuesday August 3, if liquidity conditions are met.

One of the most common requests we receive from customers is to be able to trade more assets on our platform. Per the terms of our listing process, we anticipate supporting more assets that meet our standards over time. Most recently we have added trading support for Harvest Finance (FARM) Fetch.ai (FET) Paxos Standard (PAX) and Polymath Network (POLY), Clover Finance (CLV), Mask Network (MASK), Rally (RLY), BarnBridge (BOND), Livepeer (LPT), Quant (QNT), Chiliz (CHZ) Keep Network (KEEP), Polkadot (DOT), Solana (SOL), Gitcoin (GTC), Enzyme Token (MLN), Amp (AMP), Dogecoin (DOGE), Internet Computer (ICP), Cartesi (CTSI), iExec (RLC), Mirror Protocol (MIR), Tellor (TRB), Tether (USDT), Ampleforth Governance Token (FORTH),1inch (1INCH), Enjin Coin (ENJ), NKN (NKN) and Origin Token (OGN).

Starting Today, Monday August 2, we will begin accepting inbound transfers of ACH, PLA and RAI to Coinbase Pro. Trading will begin on or after 9AM Pacific Time (PT)Tuesday August 3, if liquidity conditions are met.

Once sufficient supply of ACH, PLA and RAI is established on the platform, trading on our ACH-USD, PLA-USD and RAI-USD order books will launch in three phases, post-only, limit-only and full trading. If at any point one of the new order books does not meet our assessment for a healthy and orderly market, we may keep the book in one state for a longer period of time or suspend trading as per our Trading Rules.

We will publish tweets from our Coinbase Pro Twitter account as each order book moves through the phases.

Alchemy Pay (ACH) is an Ethereum token that powers Alchemy Pay, a platform that enables payments using a wide variety of fiat and cryptocurrencies. Fees are paid using the ACH token and users can earn ACH rewards for purchases.

PlayDapp (PLA) is an Ethereum token that powers PlayDapp, a blockchain gaming platform and non-fungible token (NFT) marketplace. PLA acts as the primary token for processing transactions on PlayDapp. Game developers can also receive PLA when users make in-game purchases.

Rai Reflex Index (RAI) is an Ethereum token that aims to maintain a stable value. The RAI-USD exchange rate is determined by supply and demand while the protocol that issues RAI tries to stabilize its price by constantly de- or re-valuing it. The supply and demand mechanic plays out between two parties: SAFE users (those who generate RAI with their ETH) and RAI holders (those who hold, speculate on or use RAI in other protocols and apps).

ACH, PLA and RAI are not yet available on Coinbase.com or via our Consumer mobile apps. We will make a separate announcement if and when this support is added.

You can sign up for a Coinbase Pro account here to start trading. For more information on trading ACH, PLA and RAI on Coinbase Pro, visit our support page.

###
Please note: Coinbase Ventures may be an investor in the crypto projects mentioned here, and additionally, Coinbase may hold such tokens on its balance sheet for operational purposes. A list of Coinbase Ventures investments is available at https://ventures.coinbase.com/. Coinbase intends to maintain its investment in these entities for the foreseeable future and maintains internal policies that address the timing of permissible disposition of any related digital assets, if applicable. All assets, regardless of whether Coinbase Ventures holds an investor or Coinbase holds for operational purposes, are subject to the same strict review guidelines and review process.
This website contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of Coinbase, Inc., and its affiliates (“Coinbase”), and Coinbase is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. Coinbase is not responsible for webcasting or any other form of transmission received from any Third-Party Site. Coinbase is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by Coinbase of the site or any association with its operators.

Crypto is a new type of asset. Besides potential day to day or hour to hour volatility, each crypto asset has unique features. Make sure you research and understand individual assets before you transact.

All images provided herein are by Coinbase.

Alchemy Pay (ACH), PlayDapp (PLA) and Rai Reflex Index (RAI) are launching on Coinbase Pro was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

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Source link

August 2, 2021
Just HODL! Bitcoin and Ethereum outperform ‘lower risk’ crypto index funds
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In the past two decades, index and exchange-traded funds (ETF) have become some of the most popular forms of investing because they offer investors a passive way to gain exposure to a basket of stocks as opposed to investing in individual stocks which increases risk of loss.

Since 2018, this trend has extended to the crypto sector and products like the Bitwise 10 Large Cap Crypto Index (BITX) tracks the total return of Bitcoin (BTC), Ether (ETH), Cardano (ADA), Bitcoin Cash (BCH), Litecoin (LTC), Solana (SOL), Chainlink (LINK), Polygon (MATIC), Stellar (XLM) and Uniswap (UNI).

The ability to access multiple top projects through one weighted average market cap index sounds like a great way to spread out risk and gain exposure to a wider range of assets, but do these products offer investors a better return in terms of profit and protection against volatility when compared to the top-ranking cryptocurrencies?

Hodling versus crypto baskets

Delphi Digital took a closer look at the performance of the Bitwise 10 and compared it to the performance of Bitcoin following the December 2018 market bottom. The results show that investing in BTC was a more profitable strategy even though BITX was slightly less volatile.

Bitcoin price vs. Bitwise 10. Source: Delphi Digital

According to the report, “indices aren’t meant to outperform individual assets, they’re meant to be lower-risk portfolios compared to holding an individual asset,” so it’s not surprising to see BTC outperform BITX on a purely cost basis.

The index did offer less downside risk to investors as the market sold-off in May but the difference was “trivial” as “BTC’s max drawdown was 53% and Bitwise’s was 50%.”

Overall, the benefits of investing in an index versus Bitcoin are not that great because the volatile nature of the crypto market and frequent large drawdowns often have a larger effect on altcoins.

Delphi Digital said:

“Crypto indices continue to be a work-in-progress. Choosing assets, allocations, and re-balancing thresholds is a difficult task for an emerging asset class like crypto. But as the industry matures, we expect more efficient indices to pop up and gain traction.”

Ethereum also outperforms DeFi baskets

Decentralized finance (DeFi) has been one of the hottest crypto sectors in 2021 led by decentralized exchanges like Uniswap (UNI) and SushiSwap (SUSHI) and lending platforms like AAVE and Compound (COMP).

The DeFi Pulse Index (DPI) aims to tap into this rapid growth and the DPI token has allocations to 14 of the top DeFi tokens, including UNI, SUSHI, AAVE, COMP, Maker (MKR), Synthetic (SNX) and Yearn.finance (YFI).

When comparing the performance of DPI to Ether since the inception of the index, Ether significantly outperformed in terms of profitability and volatility, as evidenced by a 57% drawdown on Ether versus 65% for DPI.

Ether price vs. DeFi Pulse Index price. Source: Delphi Digital

While this is an “imperfect comparison” according to Delphi Digital due to the fact that “the risk and volatility of DeFi tokens are higher than Ether’s,” it still highlights the point that the traditional benefits seen from indices are not mirrored by crypto-based baskets.

Delphi Digital said:

“You could’ve just HODL-ed ETH for a superior risk-return profile.”

For the time being, Bitcoin and Ether have proven to be two of the lower-risk cryptocurrency plays available when compared to crypto index funds that offer exposure to a larger number of assets.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.