Analyst says three Altcoins are ready to beat Bitcoin in the short term
Three crypt coins can outperform Bitcoin according to the analysis company Santiment.
Thus, for analysts several cryptomarket metrics indicate that Ethereum (ETH), Basic Attention Token (BAT) and MKR (MKR) seem more optimistic in the short term than Bitcoin (BTC).
Santiment analyzed the three-day averages of each of the cryptoactives in three metrics.
The first, DAA (Daily Active Addresses) vs.
This metric compares the price of an asset with the number of unique addresses that interact with that specific currency on a daily basis.
The metric system sees the price of stocks that exceed the DAA as a bearish sign and vice versa.
The second, the Network Value for Transactions (NVT) ratio.
This metric compares the value transferred in a specific network (transaction volume / token flow) to the network’s market value.
If the transaction volume is low relative to the market value, an asset is considered overvalued and vice versa.
The third metric, Sentiment Volume, measures the sentiment of market participants on Twitter.
Better than Bitcoin
Thus, Santiment evaluated each asset using a simplified ranking system: 0-10, where 0 represents the lowest and 10 the highest.
A 5 implies a lateral consolidation forecast.
Bitcoin scored a 3 on the DAA (Daily Active Addresses) vs. Price Divergence metric, a 2 on the NVT, and a 6.5 on the Sentiment Volume, reaching an average score of 3.8, or „slightly lower.
Ethereum scored a 5 on the DAA (Daily Active Addresses) vs. Price Divergence, a 5.5 on the NVT and a 6 on the Feelings Volume, for an average rating of 5.5 (neutral).
The BAT token scored a 8.5 on the DAA (Daily Active Addresses) vs. Price Divergence, a 9.5 on the NVT and a 6 on the Feelings Volume, for an average rating of 8.0 (high).
And Maker earned a 9 in Daily Active Addresses (DAA) vs. Price Divergence, a 10 in NVT and a 5.5 in Sentimental Volume for an average of 8.2 (high).
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In the long term
However, Santiment cautions that none of these scores are indicative of the company’s long-term outlook for each asset.
„For each weekly volume we publish in the Bold Predictions series, we examine the most recent three-day averages (or percentage changes) of each metric we are covering. As a reminder, these signals are for intraday traders to evaluate local highs and lows based on historically sound key indicators“
According to the company, the valuations do not, however, indicate in which assets investors should invest.
„Regardless of whether we call a project high or low for the next week or two, remember that this has no relevance to what we think of the long-term viability of the asset as an investment,“ he concluded.