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Few exceptions that rebel against the crypto market down trend

This week has been very disappointing for crypto investors all over the globe as most of the markets have been bleeding out after a slight correction upwards from the last bottom.

Bitcoin has re-visited the last bottom from only a few days ago, now standing at around $3600 according to the charts from Bitstamp, while Ethereum has entered the real of double-digits with a price of $94. This means that Ethereum is already below its previous bottom, showing that the pain is even worse with most Altcoins.

Bitcoin still attempting to hold the double bottom on the BitStamp chart, but is already breaking down price-wise on other exchanges. Ethereum meanwhile already broke down.

While the markets generally don’t look good, there are a few markets that especially hold strong against the global downtrend. These markets either managed to keep up their BTC values or even managed to gain some. While past performances don’t necessarily imply future gains, traders should be on the lookout for these outliers as these potentially show strong markets and/or new market cycles in the making.

NEM (XEM)

XEM’s movements have almost entirely de-coupled from Bitcoin. Some of the smaller pullbacks were the direct result of a Bitcoin decline, but else it has been keeping its upwards trendline and has printed out some fractals on the way.

MaidSafe (MAID)

MAID has been gowing up in price since early october, but has been generally printing out lower highs and even bottoms making us think this could be a descending triangle. This could be a bearish pattern, but the price seams to resist Bitcoin’s movements and is seemingly trying to break upwards from the pattern.

Burst (BURST)

BURST has printed out a lower bottom compared to the previous one before moving up, but the upwards movement made it to the last top and is attempting to push higher already. Printing out a new high would confirm a strong market.

Factom (FCT)

There is also FCT, which managed to achieve impressive gains of 600% amidst of the bear market. We wouldn’t recommend entering such a market just now even though it corrected over 20%, but checking around Bittrex and Poloniex right now seems to have its perks.

There could be of course many more project that have similar counter-trends so don’t take these especially as an investment advice.

What do you think?

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Written by Ravi Gupat

Ravi grew up in India and graduated in Economics. He is a serial entrepreneur who has founded and exited several companies in tech and media over the past 15 years. He is also an early stage investor and advisor in various blockchain-based companies.

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