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Data visualisation: alt-coins that achieved $5m market cap vs bitcoin

Alt-coin price performance vs bitcoin over time

By popular demand from my last data visualisation for 118 coins, here’s the performance of bitcoin vs alt-coins over time**.

Further details:

  • The coins plotted are: XRP, LTC, OMNI, NXT, PPC, NMC, QRK, DOGE, XPY, BTS, AUR, DASH, MAID, XCP, XLM, BLK, ETH and BCN
  • 6 outperformed bitcoin, from 1.4x to 25x, the best performer being DASH.
  • 12 underperformed bitcoin, from 0.72x to an abysmal 0.000145x (essentially zero) which was XPY.

This graph does show some alts can hold their own against bitcoin if you pick them right. I’m dubious if any can hold this trajectory long term though. As there’s a rough pattern of upward initial momentum before gravity takes over.

Of interest is during the 2014-2015 year where bitcoin was flat, alt-coins did not outperform bitcoin. During this phase there was a strong historical correlation between bitcoin and alt-coin price performance. Previously during my index simulations, we found that alt-coins suffered much worse than bitcoin during bear trends. Of late this correlation has been broken and we can see August of 2016 being the top an alt-coin bubble and a divergence emerging as alts head downwards during a strong bull run for bitcoin.

** Plotted coins are any alt-coin that has sustained a yearly average market cap beyond $5m in any calendar year of existence.

I have a lot of brain-farts on crypto-currency. For more farting, follow me on Twitter @dangermouse117

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3 Comments

  1. MrXMR MrXMR

    Hmm any special reason why you seem to be deliberately leaving MONERO out of these data analysis posts? FWIW I bought XMR two years ago for about $0.70 seventy cents each when my bitcoin dollar cost average was about $550 each. And now bitcoin is about $650 but Monero spiked up over $12 and now fallen back to about $5 five bucks range. That’s XMR doubling FOUR times in the interim and settling down to “only” having doubled TWO or THREE times (0.70 to 1.40 to 2.80 to about $5.60-ish). If Bitcoin had done the same we’d have seen it hit $8000 and settle back to $2500 today. Not sure how that does not count as “outperform” in your analysis…?

    • My algorithm said it didn’t achieve $5m average market cap. What it does is it looks at the 365 day average of market cap, sees if it qualified on 28 Oct 2016, and keeps repeating the check each year previous for qualification status. It’s meant to pick out coins that have sustained their market cap and leaves out short term pumps and recent newcomers into the club. If it’s a new float then yes, it’s an average of all the days it’s been listed. XMR has pumped only recently with a long backlog of low market cap. Its current high market cap has not lifted its 365 day average above $5m.

      • xmrhodler xmrhodler

        Hi Willy, thanks for posting your charts. Very interesting.

        I want to present another perspective. Consider that BTC didn’t sustain a $5m market cap until 2 years after it’s existence.

        So for a cryptocurrency like Monero with a completely different protocol (Cryptonote) it seems unrealistic to assume it should immediately support a market cap that took BTC 2 years to reach.

        Granted, having been an XMR holder since 2014, there were some very dismal times but this year the market has been taking note of the strong fundamentals.

        Anyway, XMR will be on your list next year, as it has not been below $5m market cap all of 2016. 🙂

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