Here’s how traders got alerted to some of the biggest rallies of this week’s resurging market
This crypto winter wasn’t a very long one. Having briefly touched $34,000 in the second half of January, Bitcoin (BTC) is on its way up again, touching the $45,000 mark on Feb. 10. Many altcoins have been catching up as well and posting double-digit weekly returns. However, not all relief rallies were equally impressive. Is there a way for traders to pick the assets that are about to pull off the strongest rebounds?
Luckily, bullish marketwide reversals tend to look similar in terms of both price movement and other variables that shape market activity: rising trading volumes, spikes of online attention to individual tokens, and the elevated sentiment of social media chatter around them. Furthermore, the conditions that underlie individual assets’ rallies in a resurging crypto market often recur as well.
What this means in practice is that automated data intelligence tools capable of detecting similarities between past and present trading conditions around crypto assets — such as the VORTECS™ Score, available to subscribers of Cointelegraph Markets Pro — can be especially efficient in alerting traders to impending price spikes when the market flips bullish.
The basic principle behind the VORTECS™ Score is a comparison between the asset’s trading conditions right now and those in the past. The algorithm constantly sifts through years’ worth of each digital asset’s historical data on price movement, trading volumes, and Twitter activity and social sentiment, seeking to identify combinations of these metrics that in the past regularly showed up before huge price pumps.
The result is a Score that ranges between 0 and 100. Scores of 80 and above indicate historical outlooks that are bullish for roughly the next 10 to 72 hours. If
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