by Marco Rossi
It looks like the market has lived the same excitement in preparation for Thanksgiving. There’s been those who rocketed, as the S&P, who was undecided on what to do, as the precious metals, and who just seems to be having a hard time, like BTC and its non-stopping decrease.
But let’s start at once. The S&P really rocketed this week, keeping up the good performance of last week:
After some fluctuations during the month, by noon on 15/11, it hit 3,114, with no sign of stopping.
However, as the VIX suggests us, its stability may come pretty soon, since volatility is foreseen to decline with time:
In the meantime, while the S&P roars, the precious metal market had an interesting week, with all the three most important metals shaking a bit, especially at the beginning of the week.
They all witnessed a similar trend, showing a possible correlation that temporarily affected the market. Gold and Silver fluctuated less, while Palladium flabbergasted investors for a while:
Clearly, Palladium had the hardest week, although it rather recovered in the end. As for now, it looks like it might still fluctuate for the next pair of weeks.
BTC, instead, doesn’t seem to stop its fall, still not recovering from the latest crashes:
Since the beginning of the week, it only fell, although some pikes here and there.
However, this also affected the market positively, with the spread between BTC and the second-most renown crypto, ETH, witnessing a sudden increase on 11/11 and closing the week positively:
It is true that, in six months, the spread between the two coins shows a stark decrease. However, since BTC is having a hard time (let’s say mid-September) it showed signs of recovery, where it might stabilize soon:
If you read our previous analyses, you would understand what this means: less power to BTC to manipulate and affect the market heavily with its performance. Quite the contrary, altcoins might just live their lives with no influence from what still today is a monopoly.