Bitcoin (BTC) Bubble Index Down 60% from 2018 Peak But Maker (MKR) Leads with Highest Returns
While Bitcoin price is down about 80 percent from its 2017 peak at $20,000, the BTC bubble index has taken a hit as well. The Bubble index of LongHash which is a data journalism platform is based on Bitcoin market capitalization, active addresses on the Bitcoin blockchain, and Metcalfe’s Law.
During this week that is February 23rd to March 1st, the BTC bubble index is about 0.76. However, the point worth noting here is that this index fell about 60 percent from the peak of 2018 when cryptocurrency prices were shooting up.
Here, when the pink line is the highest, it means the bitcoin is a most bubble-like and vice-a-versa.
When it comes to price, Bitcoin is currently at $3,865, at press time. In the past 30-days, it saw an ROI of 11.52 percent while the Sharpe ratio i.e. risk-reward ratio has been 0.0466 meaning BTC’s rewards outweigh its risks marginally in the past 30-days.
BNB, MKR, & ONT Leading In 30-Days Sharpe Ratio
The pink means, rewards outweigh the risks while blue signifies risks outweighing the rewards. In the last 30-days, BNB is the clear winner which is no surprise as its price surged 78 percent in last month and broke its all-time high (ATH) in the BTC market as a result of the launch of Binance Launchpad, Binance Chain, and Binance DEX going live for public testing.
Maker, the decentralized autonomous organization that controls the price of stablecoin Dai, has been a hot cryptocurrency that saw 87 percent return in the past 30 days and in the past 3 months as well when the crypto market was in red, MKR has been up by over 70 percent.
Tether and USD-Coin both the stablecoins proved to be the riskiest while Tron among the cryptocurrencies has been a venture of loss in the past month that was down 10 percent.