Dr Crypto

  On his live stream today, Bitboy Crypto announced that he had invested $100,000 in AMP yesterday (July 25th) and that due to an increase in price he had made over $40,000. He also noted that he had made a video on July 25 telling his followers that he had invested in AMP and told his followers to invest in AMP. Is AMP's price increase connected to Bitboy Crypto's YouTube video? Nothing is certain but it might be good to keep an eye out for Bitboy's recommendation. I have posted below a chart showing AMP's price increase and a photo of Bitboy Crypto's video-- which I should note that I saw on July 25th. Sources: AMP chart comes from CoinMarketCap and Bitboy Crypto picture comes from YouTube.  

  A recent study on how Elon Musk's and Michael Saylor's tweets found that YouTube social media influencers impact cryptocurrency prices. CoinTelegraph wrote: Rise of YouTube influencers The report also highlighted the growing impact of YouTubers on the cryptocurrency market. "Just as influencers are well known to stimulate engagement in the consumer product and fashion industries, popular social media personalities do the same with crypto assets and protocols for both users, traders and investors," the researchers said.  In particular, the report singled out Bitboy Crypto, a channel with over 1.1 million followers, as having one of the most engaged audiences in the industry. Channels like Coin Bureau, Altcoin Daily and Sheldon Evans were also cited for their substantial growth during the bull market.  The full article can be found here: https://cointelegraph.com/news/here-s-how-much-musk-and-saylor-s-tweets-influenced-crypto-prices-in-q2

  Cryptocurrencies and Stock Market Indices correlated With both cryptocurrencies and the stock markets falling last week, one big question was how correlated are cryptocurrencies to stock market indices?  Many wondered if the tumble in the stock market (Covid19 and inflation fears) was also leading to falling cryptocurrency prices. Trend and correlation analysis shows that the major cryptocurrencies are not highly correlated with the three major stock market indices: Dow Jones Industrial Averages, S&P 500, and the Russell 2000. There are 2 potential reasons for the lack of correlation.  The first is that these markets/products service 2 different investors.  The second is that the highly regulated stick markets are not allowed to exhibit high volatility as the cryptocurrency markets so cryptocurrencies are allowed to have extreme price movements.  Charts: Correlation Matrix

  XRP (Ripple) What is XRP? From CoinGecko Ripple is a privately-held fintech company that provides a global payment solution via its patented payment network called Ripple Network (also known as RippleNet). RippleNet is a payment network that is built on top of Ripple’s consensus ledger, called XRP Ledger (also known as XRPL). Ripple funded the development of the open-source XRP Ledger. Unlike most cryptocurrencies out there that cater to peer-to-peer needs, Ripple was made to connect banks, payment providers and digital asset exchanges, enabling real-time settlement expeditions and lower transaction fees. XRP Price XRP Price and Google Trends

I have moved from CoinMarkertCapt to Yahoo Finance to CoinGecko for data.  I originally started with CoinMarketCap.com but I had problems with the company's strict personal and commercial use policies.  I have tried using Yahoo Finance but I encountered problems with the Yahoo Finance API. These problems have yet to be fixed.  I have found that CoinGecko's API works well and has a very open personal use policy. If you are looking for data on crypto, you might want to take a look at CoinGecko's API. It can be found here: https://www.coingecko.com/en/api

 Cardano From Coin Market Cap.com: What Is Cardano (ADA)? Cardano is a proof-of-stake blockchain platform that says its goal is to allow “changemakers, innovators and visionaries” to bring about positive global change. The open-source project also aims to “redistribute power from unaccountable structures to the margins to individuals” — helping to create a society that is more secure, transparent and fair. Cardano was founded back in 2017, and the ADA token is designed to ensure that owners can participate in the operation of the network. Because of this, those who hold the cryptocurrency have the right to vote on any proposed changes to the software. The team behind the layered blockchain say that there have already been some compelling use cases for its technology, which aims to allow decentralized apps and smart contracts to be developed with modularity. Cardano is used by agricultural companies to track fresh produce from field to fork, while other products built on the platfor...

There have been a number of pundits, influencers and speculators who are convinced that Bitcoin will reach $100,000. Or, at least that is what many predicted at the beginning of 2021.  Bitcoin reached an all-time high price of $63, 503 on April 13, 2021 at 02:00 am. It has fallen to $30,000 -32,000 over the last few weeks. Many influencers, like Bitboy Crypto, contend that institutions and others are manipulating  Bitcoin's price. They contend that institutions are pushing are Wyckoff accumulation.  The hope is to push Bitcoin's price below $30,000 in order to push out individual investors and accumulate large quantities of Bitcoin. Bitcoin valuation is based on a model developed by PlanB.  S/he developed a Bitcoin pricing model based on the relationship between stock and flow model of scarcity. This model predicts that Bitcoin will reach $100,000 by the end of 2021 and eventually reach a price of $1,000,000. So far this model has been accurate; however, recently the...

 Dogecoin became popular because of Elon Musk's tweets.  Its popularity reached its peak when Elon appeared on Saturday Night Live.  At this point, YouTube and the New York Times both highlighted the success of a Dogecoin investor named "Dogecoin Millionaire". However, since Elon Musk's appearance on SNL, Dogecoin's price has fallen.  From CoinMarketCap: What Is Dogecoin? Dogecoin (DOGE) is based on the popular "doge" Internet meme and features a Shiba Inu on its logo. The open-source digital currency was created by Billy Markus from Portland, Oregon and Jackson Palmer from Sydney, Australia, and was forked from Litecoin in December 2013. Dogecoin's creators envisaged it as a fun, light-hearted cryptocurrency that would have greater appeal beyond the core Bitcoin audience, since it was based on a dog meme. Tesla CEO Elon Musk posted several tweets on social media that Dogecoin is his favorite coin. Dogecoin by the numbers: Dogecoin hit an all-time hi...

 I am slowly in the process of putting together the dataset of all 5,000 cryptocurrencies.  I will probably start doing some of the analysis this weekend. Here are some charts showing Ethereum's history since May 03, 2021. Ethereum's Price:  Ethereum's price hit an all-time high over the period and then declined. It has stabilized at a value near $2.100. Here is a histogram of Etheruem's price over the sample period. The histogram shows that Ethereum's price has settled between 2000 - 2500. Looking at Ethereum's price changes is interesting, but it is important to compare the price movements with Bitcoin.  Here is a chart that compares Ethereum price movements with Bitcoins over the sample period.     Here is a chart that compares Ethereum daily price changes with Bitcoins. We can see that Ethereum and Bitcoin changes are closely related.    Ethereum's price correlation with Bitcoin and Dogecoin. Ethereum's Dominance and Market Capitalization...

  Today, I will be launching my blog on cryptocurrencies.  For the last few weeks, I have been downloading daily data on cryptocurrencies from CoinGecko and Yahoo Finance. Now that I have downloaded enough data, I want to start doing some analysis on the data using Python.   My reasoning for doing this is that most of the analysis that I see on cryptos is technical analysis.  This is -mainly- the study of one asset -cryptocurrency- at a time to understand future behavior. However, there is very little macro-analysis performed on cryptocurrencies to see how they act over time.  The goal of this blog then is to perform a macro-analysis of the cryptocurrency market. To achieve this end, I will be doing different types of analysis over time.  Today, my main goal is just to launch the blog to get things moving. Notes: 1)  While I use CoinMarketCap.com (CMC) for my own personal use.  I will be using Yahoo Finance data for this blog for the next cou...