UPDATE 09/13/17: Down Market Days Reveal The Strong & The Weak
I have mentioned a few times already that I don't mind down market days as much as I might have in the past, because I know going in that there is a lot of useful information to be gained.
The following is a review of the top 6 betting related currencies: Wagerr, Peerplays, Stox, Edgeless, Augur and Bitcoin. They are ranked for performance today relative to yesterday.
During a down market, Peerplays consistently loses value upwards of 19% or more during 24 hour periods. It's almost a fear that the coinholders have to hold onto the coin. They are looking to sell as soon as the market turns red overall. It could be to do with the fact that Peerplays has lost 75%+ of it's all time high Market Cap.
Stox has also been at the mercy of down market days. Similar to Peerplays, Stox has lost two thirds of it's all time high in Market Cap near $75 M. That could lead coin owners to look for shelter when the boards turn red.
With Edgeless, you hope for SatoshiDice which we mentioned in a previous article. It became insanely profitable with basic games / honest odds. Most of it's profit was obtained not through the games themselves but through the appreciation of the Bitcoin they captured.
Time and time again during a down market, Wagerr's losses are either negligible or Wagerr is up substantially. Outside market factors have no bearing on Wagerr right now for one reason. It is extremely underpriced for the reality of it's model. It is the only true sportsbetting application in a $400 Billion - $1+ Trillion global industry. It's on the cusp of taking the next step. On that note, there is a relatively large amount of volume coming in on Wagerr today as buyers move to position themselves ahead of rising expectations.
*Coin Values Shown As Of Last Update: 6:30pm ET, US*
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Augur has been holding it's position, ranked 29th overall. It's a coin that owners perceive to be on the upswing. It's amassed a large marketcap and it stays pretty steady during off peak days. The only question long term is if coin owners will profit from a forecasting tool.
Bitcoin is the King, and there is no disputing that. Bitcoin is supporting and is supported by mega industries as well as the entire cryptocurrency universe. It is sway to an extent to market forces, but those sways are small. More than anything it is vulnerable to it's own success. It generates so much profit that sometimes people need to sell... just usually not for very long.