Altcoins News

When is the peninsula season? Answer from an exchange office


The eToro brokerage said in a new report that investing in the top 100 pennies on the market has been more profitable than investing in similar bitcoins.

To Report Coin Telegraph, new findings from Itoro brokerage show that people who knew when to turn their bitcoin investment into a coin-operated tool made significant gains in 2020. Of course, it should not be forgotten that these profits depended on the situation in which the trader sold his bitcoins at the right time and entered the coin market on time.

In its quarterly report, Ituro cites investments in the area of ​​Altcoins in the bullish market of 2020. In this report, a section is dedicated to the “peninsula season”. The Altcoins chapter is a situation in which the price of these digital currencies jumps. In such markets, altcoins usually perform better than bitcoins.

Ituro’s findings show that for the most part, by 2020 (until December 18), investing in the top 100 altcoins on the market was more profitable than investing in similar bitcoins. On the other hand, any investor who has been able to timely turn his investments from Bitcoin to Altcoin or vice versa has made twice as much profit.

In part of the Ituro report we read:

If you started investing with Bitcoin, you would make a profit with only two conversions during this period, one in May (Bitcoin) from Bitcoin to Altcoin and one in September (September) from Altcoin to Bitcoin. You went from 3 or 4 times to more than 7 times.

Itoro also acknowledges that it is very difficult to predict the bitcoin season or the coin penis season. However, this study examines some criteria that help investors find these points.

The relative volume of transactions, social media activity, the rise of digital currencies, and the number of news and articles published on digital currency projects are some of the criteria that Ituro proposes to identify the beginning of the penny season.

It should not be forgotten that the story of the volume of transactions is similar to the story of the chicken and the egg. It is not always possible to say with certainty whether an increase in trading volume is normal or simply because of an increase in the price of an asset.

In discussing social media data, Ituro uses The TIE data. Tai is an analytics company that compares the volume of tweets related to altcoins and tweets related to bitcoins.

In part of the Ituro report we read:

The data suggest that the Altcoins chapter may begin with a relative number of tweets about them.

This criterion seems to have predicted not only the currency conversion time in May and October, but also the Altcoins short season in late February 2020.

Dogecoin has taken over social media in recent days. The Dodge Coin price jump caused the first single coin to record a higher trading volume than Bitcoin.

Thai data on the addition of currencies to the exchanges’ trading list show that this amount increased at the end of last summer. At that time, Altcoins performed better than Bitcoin.

The increase in published news and articles also seems to be correlated with the beginning of the peninsula season. Ituro believes that since these news and articles are mostly about updates and important events, the increase in the price of currencies after that is “reasonable”.

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