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Thursday

13 May 2021

VORTECS Report: Altseason indicator flips to Bitcoin even as Rally and Polygon surge

VORTECS Report: Altseason indicator flips to Bitcoin even as Rally and Polygon surge


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Crypto investors are scratching their heads this week, as a key indicator suggests that Bitcoin is about to take center-stage once more — even as Cointelegraph Markets Pro subscribers had the opportunity to take major profits on altcoins such as Rally (RLY), Polygon (MATIC) and Ampleforth (AMPL).

The Altseason Analysis, developed for Markets Pro by data analytics firm The TIE, works similarly to the VORTECS™ Score, but adds two additional variables including press release data from tokens and exchange listing data.

It compares current market conditions to those in the past, to assess whether the market currently looks more bullish for altcoins or bitcoin for the next 14 days.

Although the Altseason Analysis indicator has since swung back towards altcoins and Bitcoin’s market dominance has dipped below 50%, the market may be preparing for a surge in the largest cryptocurrency as investors rotate out of large cap alts and back into BTC.

As seen in the chart below, Markets Pro subscribers received the news of the FORTH listing via a dedicated Discord channel and in-browser notifications, just before a steep price ascent.

On April 29, its price soared on the news of the token’s listing on Bithumb — news that was delivered in a timely fashion to Markets Pro subscribers (first red circle in the chart below).

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cointelegraph.com
Market data feeds provided by cryptocompare.com
bitsmart 2021