Bitcoin Forum

With so much activity taking place in the crypto world it is very much a case of making sure that you do your own due diligence, or at least follow someone who does. Especially after the recent rise and fall in cryptocurrency values from last summer, autumn, and then down into the valleys of the recent crypto winter as prices fell from their all time highs. With this in mind I am grateful to have signed up for the Huobi Research Weekly email newsletter digest, and I have been finding it a useful too. It is compiled and issued by Huobi Pro (https://www.huobi.br.com/en-us/topic/invited/?invite_code=da523)and they certainly have their finger on the pulse in terms of assessing the global trends taking place. More specifically, the data shows market turnover decreased overall this week, with EOS (80%), TRON (49%) and BTC (29%) having the highest turnover, while XLM (7.8%), XRP (10.6%), and ADA (16.1%) having the lowest.

*Market Performance Outlook*
The cryptocurrency market has seemed to put a break on its current downtrend. Among all top 10 cryptocurrencies, TRON experienced the largest increase of 7% and IOTA experienced the largest decrease of 13% in their respective market caps. In terms of price volatility, BTC had the smallest volatility rate of 0.0028 sd and IOTA has the largest volatility rate of 0.0063 sd. Moreover, EOS, TRON and BTC** **were the three cryptocurrencies with the largest turnover last week, each with 80%, 49.4%, and 29.3% respectively. On the other hand, Stellar, Ripple and Cardano had the smallest turnover last week, each with 7.8%, 10.6% and 16.1% respectively.


*Correlation Does Not Equal Causation *
Correlation amongst assets is the degree to which they move alongside each other. The matrices below show Pearson correlations and p-values that are computed from log-returns of volume-weighted average daily prices over the past week. This week, the price of top 10 Cryptocurrencies **no longer**moves in tandem, with IOTA/XRP (0.93), IOTA/NEO (0.92), IOTA/BCH (0.91) having the strongest correlations in price while IOTA/ETH (0.12), EOS/NEO (0.22), EOS/IOTA (0.28) having the weakest correlations in price. The Pearson chart shows the distinct correlating currencies with and between each other.
*Market Trajectory and Undervalued Coins*
Despite a shaky few months with hundreds of billions wiped off the total cryptocurrency market earlier this week experts are predicting a rebound with the market to bounce back with interest.
Experts warned the total value could break the trillion-dollar mark before the year is out. Some projects worth researching: **Ontology**($ONT) is a NEP-5 token native to the NEO blockchain. Ontology is a dual token system very similar to NEO. By staking your ONT, you receive Ontology Gas (ONG), which is used as the fuel to performance transactions on the Ontology blockchain.  Ontology is attempting to tackle a massive issue: how do we verify data and personal identity in order to confidently upload information from the “meatspace” onto the blockchain? Without digital identity and secure data, no one can participate in the smart economy being created by NEO. It’s an ambitious project that aims to work with all the major industries such as government, healthcare, insurance, and banking. **Tron**($TRX) has experienced price instability in the past, including the growth of more than 3,500% in the space of one month. However, one of the main advantages of Tron’s platform is that it makes it easier for users to publish their content as well as data freely nurturing the growth of the media and entertainment industry. **Huobi**has a great reputation after becoming one of the most trusted cryptocurrency exchanges in the world. This has driven it to issue its own native token, the Huobi Token ($HT). This is a cryptocurrency with a twist and every big investor is looking for ways to have a piece of the action. Huobi Token did not go the Initial Coin Offering (ICO) way; instead a total of 300 million HT was issued to users to enable them buy “service fee packages” using USDT, a cryptocurrency that is pegged to the US Dollar. You can purchase $HT (https://www.huobi.br.com/en-us/topic/invited/?invite_code=da523)via USDT, BTC, LTC, and ETC. While most of the crypto world was getting excited about ICO’s, Huobi Token slowly showed and is currently attesting the potential that a non-ICO can have within the market, similar to that of Bitcoin.

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*Disclaimer:*I personally own $ONT, $TRX, and $HT. This information should not be interpreted as an endorsement of buying cryptocurrencies or a recommendation to invest. Historic performance is no guarantee of future returns. The prices of securities fluctuate, sometimes dramatically. While cryptocurrencies can give you huge profits, you must be prepared to lose money. Remember, your predictions won’t always be right! Nobody truly knows what is going to happen to the price of a cryptocurrency, or any other investment. You should** **only invest money that you are not afraid to lose.