Identifying the best charting tools, network data providers, and price predictions as part 2 of our Crypto Fundamentals for Traders series
On July 17th we published the first article in this series, Top Bitcoin Price Indicators & Metrics traders Need to Know, explaining fundamental tools for analysis that every investor and trader should understand. Expanding on that, this piece focuses on top resources for evaluating investing and trading of crypto assets. These five resources provide insights into price patterns, historical network and usage data, and in-house research.
OKCoin’s candlestick charts don’t just track spot prices, they give traders a look at market sentiment for each crypto asset. These robust charts provide opportunity for quick analysis, with each candlestick representing a period of time and the respective open, close, high, and low price points for that period. The size of each candlestick shows traders the size of price moves, while the colors represent the % price change within the given time period. The above chart demonstrates daily price fluctuations.
Because candlestick charts demonstrate price movement visually, they can help traders spot patterns and make short term decisions.
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Messari provides the crypto industry with a wide range of research, data, news, and metrics. Market intelligence covers the usual market capitalization data, as well as developer activity, on-chain metrics and proof-of-stake ranking for the top 15 crypto assets. Messari’s insights help crypto traders and investors understand the fundamentals of the markets.
We like Messari’s chain-based metrics, which gives traders a clear look at the development and growth of chains and how chains are being used, with active addresses and median transaction volume.
IntoTheBlock offers a unique take on crypto data, providing analysis of blockchain analytics using machine learning and advanced statistics. This translates into real-time directional signals for top crypto assets, including buy/sell, exchange, and derivative signals and a token summary with demographics, price correlation, and more.
IntotheBlock has also introduced prediction services based on deep learning models in order to provide price predictions. These real-time predictions offer possibilities for an average hourly token price.
Designed for institutional investors, Coinmetrics aims to empower clients to understand, value, and invest in crypto assets. The company provides community data via a free API, and issues a weekly State of the Network newsletter featuring in-house research and covering analysis of all aspects of crypto assets.
We find that Coinmetrics’ correlation charts provide particularly useful insights, demonstrating the strength of asset correlation, including BTC-SPX which we recently covered in a Bitcoin Moves report.
With simple, easy-to-read charts for all financial aspects of cryptocurrencies, BitInfoCharts is a regularly cited resource for transaction history, block size, difficulty, hashrate, mining profitability, and much more.
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