Crypto high-cap index sans BTC
The same index as in the other project, but this time without BTC included (but still indicated by the blue line). This helps better delineate where divergences from BTC and the other high caps have occurred. What I find interesting is that if you look before the bull run you will see that the price of BTC generally outpaced the high-cap index or was at least close to it, whereas the high cap index has blown past BTC ever since BTC peaked, and remained above it for the last few months. The distance between the two appears to be shrinking, however (most likely due to the recent decline of ETH) and that may indicate that the equilibrium position for BTC relative to the index is in fact in tandem with it - in which case high cap alts in general should a) continue to decline and b) will be unlikely to go on runs themselves unless BTC can carry them and transfer momentum as appeared to happen in December.
Of course, that's a lot of supposition coming from one chart of about a four month period. I'm interested to keep following this into the future, but I really wish that Brave New Coin or someone else had indices for the high caps that went back further. It would be great to have some market history to test hypotheses on. Ah well!
-bio
Of course, that's a lot of supposition coming from one chart of about a four month period. I'm interested to keep following this into the future, but I really wish that Brave New Coin or someone else had indices for the high caps that went back further. It would be great to have some market history to test hypotheses on. Ah well!
-bio
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