Cryptocurrency Trend Table (UTC time)
Due to global public health emergencies, risk aversion continues to heat up. Bitcoin performed well during the Spring Festival (January 24-31 January), with a cumulative increase of 13% – the highest price touched the $9900 level. Since the opening in 2020 until now, Bitcoin increased by 30.45%, the best performance since 2012. Over the weekend it rose above the $10,000 dollar mark.
Cryptocurrency in relation to other markets
We selected some alternative investment markets to determine to what extent they correlate with the crypto markets. As we can tell, the correlation between BTC price movements and stock market volatility remains significantly present.
Cryptocurrency Market Panic Index
Instead of using social media panic factors that are difficult to quantify, we calculate the BTC market panic index completely based on volatility. Based on the CBOE calculation method for the S&P VIX index, we use the near- and next-term put and call BTC options to calculate the VIX trend chart. (The lower the VIX, the lower the market panic) Compared to last week’s report, the degree of market panic has dropped significantly, with a sharp drop on February 6th.
Digital currency prices (2019-02-10 UTC 05:00)
News of the week
On February 18, 2020, according to the US government, the U.S. Marshals Service will put 4,040.54069820 Bitcoin up for auction. This is not the first time the U.S. Marshals has auctioned off Bitcoin. In 2018, for example, they auctioned off more than 3813 Bitcoin in one single session. One famous incident, in 2014, involved a transaction of 29,656 BTC between someone on The Silk Road (an online marketplace on the dark web) and a public figure. The auction comes at a time when Bitcoin’s price is on the rise, and only a few months before the next Halvening.