Add as a preferred source on GoogleAltcoin-to-Bitcoin Ratio Gives Back Gains Since Aug. 17
A separate gauge tracking a top-50 altcoin basket read 51 on Oct. 23, below its 75-point altcoin-season threshold.
Bitcoin (BTC) stayed above its 50-week simple moving average for two months after its Aug. 17 weekly close, while the total-altcoin-market-to-Bitcoin ratio later erased gains and returned to its Aug. 17 level.
The total altcoin market’s relative performance against BTC improved from Aug. 17 through Sept. 28, then gave back those gains.
On Oct. 23, the 90-day gauge put the top-50 altcoin basket at 51, below its 75-point threshold for altcoin-season territory. It compares the basket’s performance with BTC over 90 days, while the earlier ratio tracked the total altcoin market over a different period. The 51 reading shows that this gauge was below its threshold.
Enna Lee
ReporterEnna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.