What can you say about Dogecoin that hasn’t been said yet? How about this: Elon Musk’s tweets aren’t the only thing that lets the DOGE out.
This week, in the middle of the retail hype that turned every favorite cartoon puppy into a mad bull doge, Cointelegraph Markets Pro subscribers had the chance to try a NewsQuake ™ from Bitfinex, which can be seen as further exciting a rally from 0 .48 to $ 0.68.
Dogecoin (DOGE) analysis
The table below shows where the news about Discord and their mobile notifications (the red circle) was delivered to Markets Pro members, as well as the immediate and dramatic price spike that followed.
NewsQuakes ™ are sourced from a real-time aggregation engine, compiled every minute from over a thousand primary sources and analyzed by an AI algorithm to determine the historical meaning of the news. NewsQuakes ™ are trained in staking out announcements, listings, and key partnerships. Because they are delivered without human intervention, they can often be the quickest way for market participants to find out about important cryptocurrency events.
In this case, everything seems to have worked as if it were a normal coin: a listing on a major exchange resulted in instant price movements that receded after about a day. However, when dealing with Dogecoin-related messages, there is no harm in exercising caution and remembering that this asset’s relationship to the news cycle is unlike any other.
iExec (RLC) analysis
On the topic of NewsQuakes ™, this week there was another perfect example of the early trader making the profits.
iExec (RLC) was hit by two consecutive NewsQuakes ™, causing the asset to gain around 70% of its value over the week. On May 4th came the announcement of a Coinbase listing – traditionally a very powerful type of news (first red circle in the table below).
A similar announcement from Bithumb came just 36 hours after the first, adding to the momentum of the coin (second red circle).
At this point, it becomes difficult to attribute price dynamics to either event, as the effects of the Coinbase announcement had not yet expired (the system is checking the 72-hour return) when Bithumb entered.
Those Markets Pro subscribers who responded quickly to any of the NewsQuakes ™ are probably fine if they don’t know the exact content of each entry. In both cases, the immediate positive price action translates into the value of being first on the news.
Telcoin (TEL) analysis
This analysis would not be complete without a word on Telcoin (TEL), which rebounded dramatically to climb from just $ 0.11 to over $ 0.48 shortly after a Markets Pro member suggested adding the cryptocurrency to the platform .
While the generation of VORTECS ™ Scores can take some time, the entire trading history of the newly listed asset is considered. When Telcoin’s first VORTECS ™ Score was displayed, the algorithm already had clear confidence in the optimistic conditions for the token.
As can be seen in the graph below, VORTECS ™ continued to see strong upward momentum despite the price spike, reaching an unprecedented 95 about 48 hours before the final push towards the $ 0.48 price hike.
The VORTECS ™ Score is available exclusively to Cointelegraph Markets Pro members and includes sentiment analysis, tweet and trading volume and price actions as components of the algorithm. These are then weighted according to a proprietary formula based on how similar they are to the historical conditions. When these factors are similar, the score is higher when historical precedents have most consistently resulted in higher prices.
The VORTECS ™ Score has been back since January 3rd
The Markets Pro team has been following 42 sample strategies since January 3rd, 2021, based on entering a position when the VORTECS ™ Score exceeds a threshold, and exiting that position when another score is reached, or after a specified period of time. The following data is from a snapshot taken May 8, 2021 at 1 p.m. ET. The full methodology can be found here.
Hold Bitcoin: 79% return
Holding the top 100 altcoins: 485% return
Time-based VORTECS ™ strategy with the best performance (enter 80 / exit 24 hours): 2,467% return
VORTECS ™ strategy with the best number of points (Enter 80, Exit Re-Crossing 80): 2,800% return
Cointelegraph Markets Pro is available exclusively to subscribers monthly for $ 99 per month or annually with two free months. There is a 14 day money back policy to ensure it meets subscribers’ needs for crypto trading and investing in research. Members can cancel at any time.
Cointelegraph is a financial information publisher and not an investment advisor. We do not offer any personalized or individual investment advice. Cryptocurrencies are volatile investments and carry significant risk, including the risk of permanent loss and total loss. Past performance is not an indication of future results. Illustrations and diagrams are correct at the time of writing or as otherwise stated. Live-tested strategies are not recommendations. Ask your financial advisor before making any financial decisions. Full terms and conditions.