Chart of the Day - Thursday, June 27th, 2019

Today's chart of the day was shared on Twitter by Jeroen Blokland (@jsblokland). It is a ratio chart comparing the price of alt-coins, or crypto-currencies aside from Bitcoin to the price of Bitcoin itself. Jeroen points out that alt-coins are being obliterated by Bitcoin this year, as the ratio is lower by 40% on a year-to-date basis. One way in which Technicians like to use ratio analysis is to gauge the risk-appetite of markets. But unlike most asset classes, crypto-currency is still in its infancy so it's hard to say what this type of action means for the space on a broader level. Bulls and bears can both make valid arguments that this works in their favor but for now, all we know for sure is that it means Bitcoin is outperforming and remains the place to be invested within crypto markets.