Welcome to my crypto market report for August 24, 2022.
On this site, I review the trend and performance of the crypto market on a 7-day and 30-day basis.
This report provides a color chart to help readers quickly get a sense of market direction for the short and intermediate time frames.
I also provide other analyses to add context to current market conditions.
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COLOR LEGEND
GREEN = BULLISH. For trend analysis, the metric is higher both on a 7/14/30 day and 2-day basis. This is a bullish indication, as the metric has displayed sustained upward movement.
YELLOW = MILDLY BULLISH. For trend analysis, the metric is higher on a 7/14/30 day basis but lower on a 2-day basis. This is a mildly bullish indication, as the metric has been in an upward trend but is showing signs of weakness.
BLUE = MILDLY BEARISH. For trend analysis, the metric is lower on a 7/14/30 day basis but higher on a 2-day basis. This is a slightly bearish indication, as the metric has been in a downward trend but is showing signs of strength.
RED = BEARISH. For trend analysis, the metric is lower both on a 7/14/30 day and 2-day basis. This is a bearish indication, as the metric has displayed sustained downward movement.
MARKET REPORT
TREND OF TOTAL CRYPTO MARKET CAP
- Short term (7-day) trend: BEARISH
- Intermediate term (30-day) trend: MILDLY BULLISH
TOTAL CRYPTO MARKET PERCENT ROI
These metrics measure market performance by calculating the percent change of total cryptocurrency market cap over a 7-day and 30-day period.
Short term (7-day) percent ROI: -6.67%
- Best trend score: MILDLY BEARISH
Intermediate term (30-day) percent ROI: +5.19%
- Best trend score: BEARISH
BITCOIN AND ETHEREUM
Bitcoin and Ethereum are the two largest cryptocurrencies by market cap, so they have a major influence on the direction of the cryptocurrency market. In addition, it is a widely held notion that any consideration of other cryptocurrencies should come with the expectation that they outperform Bitcoin, Ethereum or the total cryptocurrency market. Hence, I also provide analysis on Bitcoin and Ethereum in this report.
TREND OF BITCOIN AND ETHEREUM
Bitcoin
- Short term (7-day) trend: BEARISH
- Intermediate term (30-day) trend: MILDLY BULLISH
Ethereum
- Short term (7-day) trend: BEARISH
- Intermediate term (30-day) trend: MILDLY BULLISH
BITCOIN PERCENT ROI
Short term (7-day) percent ROI: -7.83%
- Best trend score: BEARISH
- Status: underperforming total crypto market, outperforming Ethereum
Intermediate term (30-day) percent ROI: +0.73%
- Best trend score: MILDLY BULLISH
- Status: underperforming total crypto market, underperforming Ethereum
ETHEREUM PERCENT ROI
Short term (7-day) percent ROI: -10.28%
- Best trend score: BEARISH
- Status: underperforming total crypto market, underperforming Bitcoin
Intermediate term (30-day) percent ROI: +14.93%
- Best trend score: BEARISH
- Status: outperforming total crypto market, outperforming Bitcoin