EToro, the major multi-asset brokerage, released a crypto market quarterly report for Q3 2020. The report, titled “What Moves the Prices of Cryptoassets,” delves into the main factors that cause cryptocurrencies to rise in value.
The 15 “significant developments” that directly affect the value of a crypto asset include mergers, funding, halving, partnerships, staking and announcements. The researchers analyzed how crypto assets perform after one hour, one day, and one week after the developments occur.
How long do crypto assets rally after announcements?
According to data from eToro and The Tie, crypto assets typically rise the most over a period of a week after any type of announcement is made.
During the first hour after an announcement, cryptoassets tend to increase by around 0.5%. A lackluster market reaction is expected given that it takes time for the information to circulate.
On the first day of an announcement, crypto assets are likely to rise by 0.8% to 1.3%. It is