Pi Network - auto mobile mining: Join now and be one of the pioneers!!

Blog

After a long downtrend that spanned the entirety of 2018, the cryptocurrency market has been increasing throughout 2019. However, the Bitcoin price has increased at a faster rate than most altcoins, delaying the initiation of an “altseason.”

Altseason is a term used to indicate a period in which the majority of altcoins post remarkable increases.

Many people have been speculating on when this possible altseason might begin. If we make a prediction based on the 2015 movement, alts will begin to increase before the end of the year.

Cryptocurrency trader @888velvet outlined the relationship between the Bitcoin price and the altcoin market cap during the 2015 Bitcoin bull run, outlining the point of maximum financial return.

Making a comparison with the current movement, it seems as if we are very close or have already reached this point. Soon after, the acceleration rate should pick up, eventually surpassing that of BTC.

Let’s take a closer look at both movements and compare their similarities.

2015

The altcoin cap marked the end of a downtrend slightly after the BTC price reached a high of $504 on November 2, 2015.

After this point, which in the tweet is marked by “The point of maximum financial opportunity”, the altcoin cap increased by a massive 1350% until August of the same year.

This completely dwarfed the rate of increase of Bitcoin, which was a measly 104%.

Altcoin Market Cap

Altcoin Market Cap

2019

In the current movement, the altcoin cap has possibly marked the end of a downward movement with a low reached on September 24.

The Bitcoin price movement, however, has not been identical, since the price has made a lower high instead of a higher high.

Afterward, during the increase on October 25, the Bitcoin and altcoin caps went in the same direction, indicating a possible convergence in which price increases in BTC cause the same in alts.

If we go by the previous fractal, BTC should reach a higher high, combined with the same for alts, before the rate of acceleration picks up and passes that of BTC.

2017 Altcap Movement

2017 Altcap Movement

This is in line with our previous analysis of the possible beginning of altseason.


Disclaimer: This article is not trading advice and should not be construed as such. Always consult a trained financial professional before investing in cryptocurrencies, as the market is particularly volatile.

Images courtesy of TradingView, Twitter.


Did you know you can trade sign-up to trade Bitcoin and many leading altcoins with a multiplier of up to 100x on a safe and secure exchange with the lowest fees — with only an email address? Well, now you do! Click here to get started on StormGain!

No Comments

Be the first to start a conversation

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Categories

Pi Network - auto mobile mining

Become one of the pioneers!!

Random Posts

DOWNLOAD MY EBOOK FOR FREE

"Your Headline Here How I Made $4947 In 1 Month"

Lorem pretium lorem orci elit nunc imperdiet nec vel sit pretium hendrerit amet nec orci gravida gravida sapien purus massa

Quick Bio About Me

mypicmeLorem proin accumsan accumsan volutpat ut nullam odio eleifend libero quisque ipsum gravida eleifend dolor nunc sagittis venenatis orci eleifend lorem quisque venenatis non sagittis sagittis ipsum nunc.

lacus eleifend pretium eros sed consectetur venenatis praesent sapien consectetur dolor nullam laoreet orci mauris ornare congue lacinia auctor lorem quis quis lacus eleifend pretium eros sed consectetur venenatis praesent sapien consectetur dolor nullam laoreet orci mauris

Resources

  • Resource 1

    Lorem sed praesent quisque auctor libero eros lorem nec praesent accumsan ornare venenatis nullam.

  • Resource 2

    Lorem sed praesent quisque auctor libero eros lorem nec praesent accumsan ornare venenatis nullam.

Random Blog Posts

© 2020 Cryptoracle.info - Crypto News