A Great Cryptocurrency Month and Year (so far)
John Barry | Fri May 01 2020
Looking at the April recovery and performance for cryptocurrency is very impressive. It is really a testimony on not to panic sell.
Let's start with the monthly heatmap
April 2020 Heatmap - QuantifyCrypto.net
Bitcoin had a great month up 43%, helped greatly by the 17% surge on April 29. This has been an impressive run since the lows on March 12 at $4,000.
https://quantifycrypto.net/news/a-good-looking-bitcoin-chart
Ethereum has been a quiet under the radar performer, up 57% for the month, now solidly above the $200 mark. Tezos and Stellar Lumen were the star performers up over 70%. Chainlink up 66% and the list goes on, as most of the top cryptocurrencies for up 30-40%.
Critics will say "Oh that is only looking at a single month" Let's look at the year to date Heatmap
Year to Date Heatmap - May 1st - QuantifyCrypto.net
ICON (+125%), BitcoinSV (+100%), Chainlink (+98%), Tezos (+91%) have all been spectacular. Why doesn't anybody talk about ICON? I need to learn more myself. Bitcon up 22% is great, most of the leading cryptocurrencies have solid gains in the 15% to 40% range.
With the Bitcoin halvening expected to occur on May 11th you can expect more volatility in the short term. My advice is to follow the trend. There may be strong price swings in both directions.
The platform https://quantifycrypto.net/ provides live cryptocurrency prices, technical analysis, news, heatmaps, and more. Our flagship product is the trend algorithm, designed to be on the correct side of significant cryptocurrency price moves. We are a new site, please check us out and let us know what you like and do not like about the site.
The most important technical tool is the Price Chart. Our site guides you to identify the "Hot" cryptocurrency that you should be viewing now. Just click on a heatmap tile or coin name to view its price chart.
None of this is meant to be financial advice and I do not have any financial expertise. Although I worked at the New York Stock Exchange for over 23 years, it was as a developer supporting computer systems, not as a stock trader.
Full discloser: I do own Bitcoin and have stock positions.