Market Overview - November 2019

Relative Returns

The month of November was dominated by selling pressure for all Digital Assets covered in this report. If we recall from the Market Overview for the month of October, markets experienced a move towards the end of the month that especially impacted TRON and still accounted for a sizable Bull move forthe rest of the assets. This move continued on until the second week of November, but then fell, not in one big move but overtime, which is pleasing to see in the crypto market. It showcases the market slowly exhibiting more similar behaviours to markets that we consider to be performing “efficiently”. On that note, comparing the move of TRON from last month to this one shows less erratic movement of the currency and following in line with the rest of the market. This is also in line with the correlation readings, further down in the report, with TRONs and BTCs correlation moving back into the region of strong positive correlation.

Overall, all coins in this report finished the month with a loss, TRON’s strong move last month made it the only asset finishing with positive margins after 2 months. Bears were driving the market for at least 2 weeks of November. However, towards the end of the months Bulls seemed comfortable to start pressure at those prices. This could be linked to the recent Tagomi/Coinbase news leaks, but knowing the crypto markets, we will not see that headline priced in yet, we might be in for a bullish December and go against the idea of a deflationary December.

November 2019, Biggest Changes

10-Hour Rolling Volatility