Do you see red? FUD that! Here’s what you should have bought instead of Bitcoin last week

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We have argued several times in the past that the correlation between the price of Bitcoin and the market capitalization of hundreds of altcoins makes very little sense.

Whether you accept the idea that Bitcoin is digital gold, or a payment mechanism, or both, it doesn’t have much in common with Ethereum, Shiba Inu, or FTX’s native exchange token.

Well whether we like it or not, the big moves in the price of Bitcoin define the crypto markets.

Before Bitcoin slipped from the latest all-time high above $ 68,000 to the region of $ 55,000 last week, dragging most altcoins with it, the crypto market had seen six straight weeks of virtually uninterrupted growth.

But as soon as the market turns red, as it did last week, many traders tend to succumb to three old enemies: fear, uncertainty and doubt (FUD).

That’s why we say: FUD that. Experienced crypto traders know that correction periods can also present opportunities for profit. And Cointelegraph Markets Pro’s VORTECS ™ score found six of the top ten performing altcoins last week, even as the market plunged.

Unprecedented bull races, look-alike fixes?

The VORTECS ™ Score is a machine learning based trading algorithm that compares historical and current market conditions in digital asset markets to aid crypto traders’ decision making.

The model takes into account a multitude of quantitative indicators – including price movement, social sentiment, and trading activity – to arrive at a score that assesses whether current conditions are historically bullish, neutral, or bearish for more than 200 cryptocurrencies.

A VORTECS ™ score of 80 or more is considered confidently bullish for the next 12 to 72 hours. Assets that achieve such scores exhibit arrangements of key business and social variables that in the past predate significant price increases.

The table below shows ten altcoins that generated a significant ROI between November 11-18 – the week that saw Bitcoin plunge from $ 68,000 to $ 58,000.

Bold are tokens that achieved a VORTECS ™ score of 80 or more before reaching their peak price for the week.

Source: Cointelegraph Markets ProSix of the best crypto trading opportunities

Six of the ten best performing assets of the week exhibited patterns of business and social behavior that closely resembled historically bullish combinations before recovering.

The Sandbox (SAND) Coin Crypto.com (CRO) Voyager (VGX) Koinos Network (KOIN) TomoChain (TOMO) AirSwap (AST)

Six in ten is significant, given that the total number of tokens that generated wins has been very small.

What does he say about the nature of the crypto market? When the going is bullish, altcoins can rally for an endless number of reasons, often simply due to a favorable macro backdrop and the exuberance that pervades the market.

But when much of the market heads south, the analysis suggests that tokens backed by robust trading activity and high social sentiment are the most likely to turn the tide.

These are also the times when traders need reliable data analysis to most inform their strategies. When the ground is lava, it helps to have an additional pair of algorithmic eyes sifting through millions of data points to identify potential refuges.

This is exactly what the VORTECS ™ score is made up of.

Cointelegraph is a publisher of financial information, not an investment advisor. We do not provide personalized or individualized investment advice. Cryptocurrencies are volatile investments and carry significant risk, including the risk of permanent and total loss. Past performance does not represent future results. Figures and graphics are correct at time of writing or as otherwise specified. Strategies tested live are not recommendations. Consult your financial advisor before making any financial decisions.

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