1. A method of compressing sequence data in a text-based format, the method comprising: parsing text of the sequence data into a plurality of fields according to information included in the text; collecting statistics with respect to a symbol included in each of the plurality of fields; for each of the plurality of fields, identifying an encoding algorithm that achieves greatest compression gains with respect to the field based on the collected statistics; and generating a bitstream, compressed from the sequence data, by encoding the sequence data using the identified encoding algorithms.