Do you only see red? Goodbye to the FUD! See what you should have bought last week instead of Bitcoin

We have argued many times before that the correlation between the price of Bitcoin and the market capitalization of hundreds of altcoins makes very little sense.

Whether you believe in the idea that Bitcoin it is digital gold, as if it is a payment mechanism, or both, doesn’t have much in common with Ethereum, Shiba Inu, or FTX’s native exchange token.

Well, whether we like it or not, Big Movements in Bitcoin Price Define Cryptocurrency Markets.

Before the price of Bitcoin fell from the last all-time high above $ 68,000 to the region of $ 55,000 last week, dragging most altcoins with it, the cryptocurrency market had seen six consecutive weeks of virtually uninterrupted growth.

But as soon as the market turns red, as happened last week, many traders tend to succumb to three old enemies: fear, uncertainty and doubt (FUD, for its acronym in English).

That is why we say: Goodbye to the FUD. Experienced cryptocurrency traders know that correction periods can also present profit opportunities.. And Cointelegraph Markets Pro’s own VORTECS ™ score found six of the ten altcoins performing well last week, even as the market succumbed.

Unprecedented bullish rallies, similar corrections?

The VORTECS ™ Score is a machine learning-based trading algorithm that compares the historical and current conditions of the digital asset markets to help cryptocurrency traders make decisions.

The model takes into account a series of quantitative indicators —Including price movement, social sentiment, and trading activity— to arrive at a score that assesses whether current conditions are historically bullish, neutral, or bearish for more than 200 cryptocurrencies.

A VORTECS ™ Score of 80 or above is considered confidently bullish for the next 12-72 hours. Assets that achieve such scores exhibit arrangements of key trading and social variables that in the past came before significant price increases.

A VORTECS ™ Score of 80 or higher is safely considered bullish for the next 12-72 hours. Assets that achieve such scores exhibit fixes of key trading and social variables that in the past came before significant price rises.

The following table shows ten altcoins that delivered significant returns between November 11-18, the week Bitcoin plunged from $ 68,000 to $ 58,000.

In bold are the tokens that reached a VORTECS ™ Score of 80 or higher before reaching their maximum price for the week

Source: Cointelegraph Markets Pro

Six of the best cryptocurrency trading opportunities

Six of the week’s top ten performing assets exhibited trading patterns and social behavior that closely resembled historically bullish combinations before rebounding..

  • The Sandbox (SAND)
  • Crypto.com coin (CRO)
  • Voyager (VGX)
  • Koinos Network (KOIN)
  • TomoChain (TOMO)
  • AirSwap (AST)

Six out of ten is significant, since the total number of tokens that produced some profit has been very modest.

What does this say about the nature of the cryptocurrency market? When the situation is bullish, altcoins can rise for an infinite number of reasons, often simply due to a favorable macro environment and the exuberance taking over the market.

But when much of the market is down, analytics suggest that tokens supported by strong trading activity and high social sentiment are the most likely to resist the trend.

These are also the times when traders need the most reliable data analysis to inform their strategies. When the ground is unstable, it helps to have an extra pair of algorithmic eyes sifting through millions of data points to identify potential shelters..

This is exactly what the VORTECS ™ Score is capable of doing.

Cointelegraph is a financial information publisher, not an investment advisor. We do not provide personalized or individualized investment advice. Cryptocurrencies are volatile investments and carry significant risk, including the risk of permanent and total loss. Past performance is not indicative of future results. Figures and graphics are correct at time of writing or where otherwise specified. Strategies tested at the moment are not recommendations. Consult your financial advisor before making financial decisions.

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