Every month we will share with you how the market has been behaving using our simulation software.
Like every month, we used our own simulation software to explore how the crypto altcoin market performed. In the simulation we bought 120 cryptocurrencies on Binance on January 1st and sold them on Februari 1st. Just like December, January was a balanced month for the altcoin market. On average, altcoins outperformed Bitcoin by 4.7% and exactly 50% of altcoins outperformed Bitcoin. A few excessive gainers (like $DLT, $HOT and $REP) raised the mean considerably.
Figure 1. Showing the coins with the biggest gains and losses for January
Figure 2. January has been a first positive month, starting the year with cautious optimism
The volatility was low during January, other than on the major BTC drop of the 10th of January. BTC entered January around 3.700 and closed around 3,400.
This was only the second blog of a new monthly tradition. We would be really happy to hear your opinion! If you want to share your thoughts, or are interested in the complete dataset, just drop us a line on our twitter account
Written by David
IT Developer for 100eyes by night, Sr Data Scientist by day