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Amateur analysis based on percentage fall off ATH

All Cryptocurrencies

by COINS NEWS 113 Views

Ok, so I am not an analyst which you will proceed to see from the following post, but I would like to see opinions of other regular folks on my line of thinking here.

I am not looking to daytrade, or to get a moonshot, I am simply trying to identify those cryptos that do not bleed as bad as others when things get tough.

So my starting point was November 2022 as it was the lowest point BTC price went to in the last 3+ years. I went back and took a price screenshot from 11/20/22 as that was the date I could find, even tho BTC fell a bit under few days prior. So I made a list of top 100 (stables excluded) at the time with their prices and compared them to their previous ATHs. From there I simply calculated the percentage of the price fall from ATH to the November bottom.

For reference, big guns BTC had fallen 76% and ETH 77% so I grouped all the rest of those which were between 70-79%. The list is:

MATIC 72%
GT 73%
QNT 75%
XCN 76%
KCS 76%
XMR 76%
BTC 76%
ETH 77%
CHZ 78%
TRX 78%
ATOM 79%
APT 79%

Since these cryptos' fall was on a similar level to that of BTC and ETH you could argue that they potentially showed that they are almost as resilient as the big guns (XCN proceeded to implode in the meantime tho).

Now, there were a handful of those who performed even better, and the list is:

TWT +29%
PAXG 22%
GMX 29%
LEO 47%
OKB 49%
BNB 61%
TON 68%

TWT for whatever weird reason had a huge pump in November and actually recorded 29% rise compared to its previous ATH which I have no explanation for.

PAXG you could argue shouldn't be on this list since its price is supposed to be directly driven by the gold price.

But the rest of them are there and performed much better than the lot. My take from that is that these showed that bear market would not hurt them as badly and these might be good options for investment that will most likely not leave you completely dry once another bear comes knockin.

Please enlighten me and tell me why this does not mean anything?

submitted by /u/sedplas
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