Altcoin Trader: Alt Market Cap Shows Longest Accumulation Phase Yet

Over the last few months, crypto traders and analysts have been ranting and raving about an apparent alt season, that saw the price of many altcoins double in value. It wasn’t until Bitcoin’s recent rally that the alt season was stopped in its tracked.
However, according to one experienced altcoin trader and author, altcoins are still in an accumulation phase – the longest accumulation phase yet for altcoins – which suggests a markup phase may be around the corner.
Altcoin Market Accumulation Phase Continues, Longest on Record
Since the start of 2019, various altcoins, front run by a Litecoin rally, have painted double digit gains. Many have gone on to outright double in value in just a few short weeks after breaking out of downtrend resistance.
The surge in pricing across low-,mid-, and high-cap altcoins has caused many to claim that an alt season was in full effect. Even Google Trends data showed a surge in interest in Bitcoin’s brethren.
Related Reading | 2019 Crypto Alt Season Kicks Off With Over 20 Altcoins Doubling in Value 
However, a new chart shared by experienced altcoin trader and author of the Altcoin Trader’s Handbook, Nik Patel, suggests that the altcoin market cap is still entrenched in an accumulation phase. The current accumulation phase, according to the chart, which covers off on the last five years of total altcoin valuations by market cap, is the longest on record lasting 260 days.

Just an observation on ALTBTC accumulation over the past five years: pic.twitter.com/Y2b9WWLoUr
— Nik Patel (@cointradernik) April 17, 2019

Prior to the current accumulation cycle, the previous one occurred in late 2016 and early 2017, lasting for 108 days. The surge helped create the crypto hype bubble that popped in late 2017, and created a deep correction that turned into the longest bear market in history.
Alt Season Hasn’t Started Yet, Mark Up Comes After Accumulation
If the altcoin market truly is in the accumulation phase still, despite many skyrocketing in value, what comes next might stun the world in terms of profit-generating growth.

So longest alts accumulation in history! Are you leaning towards biggest altseason we have ever seen later this year?
— Ansh B (@manofaction_ab) April 17, 2019

Accumulation phases often occur when “smart money” – as it’s called – begins investing in an asset during the peaks of selloffs, or when “blood is in the streets,” as the late Baron Rothschild would say.
Following most accumulation phases, comes a mark up phase, where the value of the asset increases significantly. Once the price of the asset has grown enough, a phase of distribution, or selling of the asset, will take place.
Related Reading | Altcoin Season Is Here, But What’s That Mean for Bitcoin (BTC) Dominance?
Should the mark up phase not even have happened yet, the glimmer of an alt season we’ve witnessed thus far will be little more than a flash in the pan in comparison. But it all hinges on what Bitcoin decides to do, as the altcoin market cap appears to be held back by Bitcoin dominance. Bitcoin dominance was close to falling below 50% for the first time in 2019, however, the recent Bitcoin rally caused dominance to surge, and altcoins to fall.
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Crypto Wallet Ledger To Lay Off 10% of Workforce Following Product Issues

The crypto bear market hasn’t been kind to many blockchain or crypto-focused businesses and companies, who have been forced to revisit their strategies, lay off employees, or even close up shop due to lack of funding or interest.
The latest victim of waning interest in the crypto sphere, is hardware wallet manufacturer Ledger, who is reportedly laying off as much as 10% of their workforce. But is the layoff due to the bear market, or have some business-related blunders caused the tech firm to falter?
Ledger Faces Workforce Reductions As Crypto Bear Market Fallout Continues
The crypto bear market of 2018-2019 has been long and brutal, resulting in even the largest crypto firms having to lay off employees, including Bitcoin mining manufacturing giant Bitmain and Ethereum startup incubator ConsenSys. However, the latest entity that is facing extensive layoffs, is France-based cryptocurrency hardware wallet manufacturer Ledger.
Related Reading | Bitcoin and Ethereum Trading Volume Reaches Crypto Bull Run Peak Levels 
According to a report from local French media outlet Presse Citron, the wallet maker behind the popular Ledger Nano S USB-device, is considering laying off as much as 10% of their 200 employees.
During the 2017 bull run, Ledger is said to have shipped and sold over one million units. While Ledger CEO Eric Larchevêque has told investors that recent sales of their hardware devices “are good,” clearly the company is facing some financial issues if a 10% reduction in workforce is being considered.
Bear Market Blues, Or Bad Business Moves?
Ledger’s woes may not entirely be the result of the crypto bear market. The firm has recently caused quite a stir in the crypto space, repeatedly disappointing its customers, and for calling out its closest competition in bad taste.
The issues began at the close of last year, when Ledger issued an update to its popular Nano S hardware wallet, that effectively limited the amount of apps that could be installed to just 2 or 3, according to Redditors voicing their distaste in the r/ledgerwallet subreddit. Redditors complained that the update made the Nano S obsolete, forcing users to consider upgrading to the Nano X or be stuck with a lesser experience than they had grown accustomed to.
There, additional complaints can be seen from crypto investors who pre-ordered the firm’s bluetooth-enabled hardware wallet, the Nano X, which was originally slated to begin shipping in March. Ledger experienced production quality issues that resulted in a sub-par batch of initial units, which Ledger was forced to reject, causing a delay.

Due to unexpected production issues at the last minute, we’re deeply sorry to tell you that the Ledger Nano X shipment will be delayed for at least 1 month.
We’re doing all we can to ship them as soon as possible and will keep you posted.
Read more here: https://t.co/9qaalUCaP8 pic.twitter.com/garP2lEPmG
— Ledger (@Ledger) March 21, 2019

Ledger expects replacement units in late April, so the Nano X should begin shipping soon thereafter, barring any additional surprises in production.
Related Reading | Bitcoin Trades For Over $10,000 On Binance Stable Coin Trading Pair
Ledger also received some negative press following claims it made at the MIT Bitcoin Expo regarding potential vulnerabilities in their closet competitor’s hardware wallet, Trezor, which is produced by SatoshiLabs.
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Overwhelming Majority of Bitcoin and Crypto Investors Refuse to Report Taxes

As the tax deadline draws closer, crypto investors will need to review their losses and gains related to their Bitcoin and altcoin holdings, and determine if they are required to report them on their taxes.
However, according to a recent Twitter poll, the vast majority of crypto investors are refusing to report their taxes, and are willing to risk stiff penalties should the Internal Revenue Service (IRS) discover the unreported earnings.
Crypto Investors Say “No Chance” to Reporting Taxes
This coming Monday is the tax deadline in the United States, a time when procrastinators scramble to the post office in hopes of getting their last minute tax reporting time-stamped before the deadline has passed.

What's the status on your crypto taxes?
If you haven't done them I recommend @accointing https://t.co/oReVgPl57L
— Wendy O (@CryptoWendyO) April 11, 2019

According to a new poll shared on Twitter by crypto-focused Youtube personality Crypto Wendy O, crypto investors are refusing to report their crypto taxes. The poll revealed that 81% of all respondents replied with “not a chance” when asking what the status of their crypto taxes were.
Related Reading | Poll Reveals Majority of Crypto Investors See Bitcoin Price at $100,000 to Millions Long-Term 
5% said they “will start next week”, which is the day the deadline is up, while 15% of crypto investors reveal they are “currently doing them.” The poll strangely omits an option for crypto investors who have already completed their tax returns.
Following last year’s bear market, many investors in Bitcoin and other cryptocurrencies may have more realized losses than gains, however, taxpayers are still required to report any losses on capital asset transactions that they made within the tax year, regardless if it was a gain or not. Failing to properly report taxes can lead to penalties or jail time.
Bitcoin Taxes Don’t Need To Be Difficult, There’s No Excuse Not to Report
Crypto investing is already risky due to it being an emerging market and a technology that isn’t yet fully utilized at scale, but avoiding paying taxes is outright playing with fire. Exchanges are actively working with the IRS to supply customer data, which can and will be used to compare against reported earnings or losses. Those that fail to report properly are at risk of an audit, or worse.
Related Reading | Confusing U.S. Tax Laws Lead to $5 Billion In Unrealized Crypto Losses
Reporting your crypto taxes doesn’t have to be difficult. There are many different services out there, including Bitcoin.tax, which automatically pulls exchange API data to programmatically calculate capital gains and losses, and spits out all the appropriate tax forms.

I’ve been getting a lot of last-minute DMs about entering crypto in Turbo Tax.
When reporting crypto gains and losses usually don’t list every trade. Instead I just list the total gain/loss per coin (separated out for long/short).
Here’s an example of how you would enter BTC: pic.twitter.com/ofl4cb1CMq
— Crypto Tax Girl (@CryptoTaxGirl) April 12, 2019

Turbo Tax, and others have also begun offering solutions for investors and traders to report accurately.

If you’re filing your taxes last minute and are realizing that you still need more time to calculate your crypto gains and losses, go ahead and file an extension and then reach out to me after the 15th and I can help ya!
(Or if it’s urgent, go to https://t.co/TNNG6AOPSf)
— Crypto Tax Girl (@CryptoTaxGirl) April 11, 2019

Investors with hundreds of trades may find themselves overwhelmed, but as CryptoTaxGirl points out, total gains and losses per coins are enough to report – not every single trade is needed. Finally, she reminds everyone that may need more time, or have second thoughts about not reporting their cryptocurrency taxes, can file for an extension to allow for more time.
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Bitcoin and Ethereum Trading Volume Reaches Crypto Bull Run Peak Levels

At the start of April, Bitcoin rallied nearly $1,000 in a matter of a little more than an hour. The powerful movement was enough to drag the entire crypto market with it, including the likes of Ethereum, Ripple, and Litecoin.
The rally, which many believe confirm that the bear market bottom is now in due to the first ever cryptocurrency painting a higher high on price charts, saw so much trading volume across Bitcoin and Ethereum, that volume reached levels not witnessed since the peak of the last cryptocurrency bull market.
Is The Bull Run Back? Bitcoin and Ethereum Trading Volume Revisit 2017 Levels
Ever since Bitcoin’s parabolic advance was broken at the tail end of 2017, its all-time high of $20,000 has become a distant memory, and bullish sentiment and general interest has all but left the crypto market. As less investors and traders flocked to the crypto space, trading volumes across top crypto projects has diminished significantly.
Related Reading | Crypto Analyst: Higher High In Bitcoin Price Confirms Bear Market Bottom Is In 
Trading volumes often drop during period of indecision, but volume can also drop as trends begin to lose their steam. It’s not until a major movement occurs, that volumes begin spiking again, often confirming a trend continuation or reversal, depending on which direction the movement goes.
Throughout the 2018-2019 bear market, volume has continually diminished. It began to ramp up during the fall through $6,000, but quickly dropped back to the low levels.
Following the longest bear market for Bitcoin on record, a major trend change occurred during last week’s rally, that took Bitcoin price from resistance at $4,200 to $5,200 in a matter of an hour. The powerful movement also brought with it a significant surge in trading volume, confirming that the move was genuine and that a trend reversal may be a reality. Certain indicators suggest the reversal to be legitimate, but bears have yet to give up as is evident in the latest pullback.

Crypto volume in that latest leg up was as high as in peak 2017 bubble pic.twitter.com/atpFX8CLqF
— Camila Russo (@CamiRusso) April 11, 2019

That surge in trading volume across both Bitcoin and Ethereum, reached levels not seen since back in 2017 when cryptocurrencies went parabolic and took the mainstream public by storm. At the time, a media blitz lured retail investors to cryptocurrency exchanges in droves, seeking to strike it rich from Bitcoin and its altcoin cousins.
Related Reading | Is Over $3 Billion Is Sidelined Waiting to Enter Bitcoin and Altcoins?
It’s worth noting that the data former Bloomberg financial journalist Camila Russo used is from CoinMarketCap, which has recently been put under the microscope due to claims of falsely inflated trading volumes. While there is validity to these claims, the comparison is being made against previous CoinMarketCap data, so the sample data should represent similar levels of trading volume, wash trading included.
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Crypto Market Cap Could Rise 40% To $225B If Key Resistance Is Broken

The crypto market has seen a resurgence in recent months, as Bitcoin price bounced off what appears to be its final bear market bottom, and rallied to $5,000 where it’s currently consolidating.
The most recent move took the overall crypto market cap, which includes all altcoins and Bitcoin, from $140 billion, to $180 billion where it was rejected at strong resistance. Should the total market cap break the current resistance level, one analysts believes a nearly 40% rise is in the cards, taking the crypto market cap potentially to $225 billion.
Crypto Market Cap Could Reach $225 Billion If Resistance Is Overcome
Price action in the crypto market is heating up once again, as bullish sentiment and an apparent alt season made a return. While Bitcoin’s rejection at $5,400 has caused the overall market to bleed out a bit during the pullback, the potential for further upward movement is high given the fact that many indicators are pointing toward a new uptrend.

#Crypto Total Market Cap (Calculated by #TradingView ) : Current $161.9 Billion, Important Support now at $158 Billion & $144 Billion and resistance at $180 Billion, if manage to break out above $180 Billion then next possible Target will be at $225 Billion.Plz RT & SHARE pic.twitter.com/m3SzeC963g
— Mind Trader (@mindandtrading) April 11, 2019

If the uptrend does continue, one crypto analyst and trader has shared his thoughts on what level the total crypto market cap might reach should strong overhead resistance be broken by bulls. Professional harmonic and wave trader, Mind Trader, believes that a break of resistance at $180 billion in the crypto market cap chart – an area that was just violently rejected – will result in a push over $200 billion toward $225 billion in total market capitalization.
Related Reading | Crypto Analyst: Higher High In Bitcoin Price Confirms Bear Market Bottom Is In 
Such a move would represent an over 38% rise in value, and likely confirm that the crypto bear market of 2018-2019 is done for.
Altcoin Market Cap Provides Insight on Where Bitcoin Price Could Go Next
Mind Trader also shared his perspective on the altcoin market cap, which is essentially the total crypto market cap, sans Bitcoin. Bitcoin makes up the majority of the cryptocurrency market cap, so traders often remove it from their analysis to get a more accurate picture of what’s going on with altcoins directly.

#Altcoins Market Cap ( Calculated by #TradingView ) Current : $72.7 Billion, Support $70B & $68B and resistance $86 Billion, if manage to hold above $86 Billion then next possible Target will be $115 Billion. Plz RT & SHARE pic.twitter.com/M15syPfcpN
— Mind Trader (@mindandtrading) April 11, 2019

The analyst suggests that the next target for the altcoin market cap, should resistance be taken out by bulls, would be roughly $115 billion. This would mean that to reach the total market cap of $225 billion he’s projecting, Bitcoin’s total market cap would need to reach $100 billion also.
Related Reading | 2019 Crypto Alt Season Kicks Off With Over 20 Altcoins Doubling in Value
This would take Bitcoin price to roughly $5665, and it would mean that Bitcoin dominance feel below 50% for the first time in 2019. A break of Bitcoin dominance below 50% could cause an all out alt season to occur. However, the price of Bitcoin would still be below resistance at $6,000, which is likely to prove as difficult to break as it was when it acted as support throughout 2018.
A break of $6,000 is likely the barrier to truly igniting the next bull run for Bitcoin and its altcoin brethren.
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Alt Season Resumes as Bitcoin Price Continues Upward Climb Toward $6,000

Crypto bulls have been dominating the price action as of late, with many altcoins posting 100% or more gains since they reached their bear market bottoms. It’s caused many traders and analysts to agree that an alt season has been upon us.
However, a massive Bitcoin rally halted alt season in its tracks, but it’s since resumed now that Bitcoin made it through resistance at $5,350 that had appeared to keep the rest of the market at bay.
Altcoins Rebound Following Bitcoin’s Latest Bullish Move
Bitcoin and the rest of the crypto market have experienced strong gains since the start of 2019, and is showing no signs of slowing. After a recent powerful rally, BTC made a quick consolidation pause between $4,800 and $5,200 before continuing on its journey back toward $6,000.
As Bitcoin price consolidated, altcoins suffered. The correlation between Bitcoin and alts is fickle – occasionally alts fall while Bitcoin climbs, while other times they rally alongside their older crypto brother.
Now that Bitcoin has broken through resistance at $5,350, the alt season that had the crypto space irrationally exuberant once again seems to be getting a second wind.
Related Reading | Crypto Comeback: One Simple Chart Proves Altcoin Season Is Upon Us
Of the top ten cryptocurrencies by market cap, Cardao (ADA) is the clear winner, with an over 7% gain on the day thus far relative to Bitcoin’s 3% gain. EOS is close behind it, with a 4.77% surge. The rest of the top ten experienced between 2 and 3% gains on the low and high end of things, as alts like Ripple, Ethereum, Litecoin, and Stellar all remained relatively stable.
The price action lower down the list of top cryptocurrencies is where the resurgence of alt season is going strong, with Repo Coin – a blockchain for repossessing automobiles – painting a nearly 75% gain on the day. Right above it is Lambda, which is currently enjoying a 50% rally.
Today’s top gainer, according to CoinMarketCap, is RealTract, which has more than doubled in value, with over a 165% gain in the last 24 hours. Gains like this are virtually unheard of in traditional markets without leverage.
BTC Dominance Continues to Keep Major Alts At Bay
While Bitcoin was close to breaking below 50% dominance, it has since risen 1% and is showing signs of strength. BTC dominance is regularly used to gauge the health of the altcoin market in comparison with Bitcoin.

I know the total market cap shouldn't be used for TA but it shows that the alt spring might be close to be over. I might re-enter the alt market once it bounces on that blue area #Crypto pic.twitter.com/lCJnn29PbB
— SwissQuant (@SwissQuant) April 9, 2019

Most traders don’t put much weight in applying technical analysis to Bitcoin dominance charts, but it’s clear that a strong break below 50% would cause altcoins to skyrocket, while Bitcoin remains relatively stable. However, if Bitcoin continues its bullish momentum, dominance should only rise, causing altcoins to bleed out their recent value increases as investors take profits back into Bitcoin via altcoin trading pairs.
Related Reading | 2019 Crypto Alt Season Kicks Off With Over 20 Altcoins Doubling in Value 
If the latest price action in the crypto market is anything to go by, Bitcoin gets the final say over if alt season continues.
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Bitcoin Technical Indicator Confirms New Uptrend After 16 Months of Red

Ever since last week’s Bitcoin rally that broke through critical resistance at $4,200, bulls have appeared to be back in charge. What is still unclear at the moment, is if the bottom of the 2018-2019 crypto bear market is in, and the early signs of a new bull run are beginning.
Giving further merit to bulls claiming the bottom is now behind us, one specific Bitcoin technical indicator has turned bullish for the first time in 16 months, which according to many confirms that a new uptrend has begun.
Bitcoin Super Guppy Multiple Moving Average Indicator Flips Bullish
The crypto bear market has been hard fought by bulls, who eventually succumbed to bearish sell pressure in November, causing a break of repeatedly tested support at $6,000. The violent move down took Bitcoin into a new trading range, touched its local bottom, and began a multiple-month accumulation period.
Related Reading | 2019 Crypto Alt Season Kicks Off With Over 20 Altcoins Doubling in Value 
Investors and traders can only know a bottom was indeed the final bottom in hindsight. Until a new bull trend has long been confirmed, the market will continue to wonder if Bitcoin and other cryptocurrencies may test new lows.
However, one particular technical indicator for Bitcoin has flipped bullish for the first time since the bear market began back in early 2018, following the break of Bitcoin’s parabolic advance to its all-time high price of $20,000 in December 2017.

$BTC SuperGuppy shows confirmed uptrend
I don't always guppy but when I do… it's a thing of beauty watching these EMAs turn blue and green for the first time in 16 months pic.twitter.com/MPUE0zGBNU
— Josh Rager (@Josh_Rager) April 10, 2019

According to crypto analysts, the Bitcoin Super Guppy indicator turning green is confirmation that a new uptrend is here. If this uptrend turns into another full blown bull market is still anyone’s guess, but if bulls follow through with conviction it could revive the FOMO and hype that drove the 2017 crypto bubble.
Guppy, Whales, and Other Big Fish
The indicator, called the “Super Guppy” takes multiple moving averages – both short- and long-term moving averages – and averages them in such a way that can help traders spot changes in trends, breakout confirmations, and other potential profit opportunities. The indicator is named after its creator, Australian trader Daryl Guppy.
Related Reading | Crypto Analyst: Break of Current Bitcoin Resistance Will Commence Bull Run 
Now that the Super Guppy has confirmed a trend reversal, the whales that accumulated Bitcoin during the extremely brief stint in the $3,200 to $4,200 trading range should be looking to mark up the price of their assets sooner than later. The sudden surge in pricing, followed by additional bullish momentum, could cause the bear and bull cycle to occur at a faster pace than previous cycles, resulting in a new all-time high sooner than expected.

Feel cute might delete later $btchttps://t.co/dfVH9p8b5q
— fil₿fil₿ [OBV Maximalist] (@filbfilb) April 10, 2019

Crypto analyst FilbFilb has shared a previous chart created that outlines what a faster cycle might look like, with one scenario bringing Bitcoin to a new all-time high peak coinciding with the next halving in May 2020. The other scenario has Bitcoin peaking again shortly after halving, closer to July 2021.
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Crypto Analyst: Break of Current Bitcoin Resistance Will Commence Bull Run

The recent Bitcoin rally through months-long resistance at $4,200 has re-ignited the crypto market’s bullish fervor. After nearly a year and a half of bear market, a potential bottom may be in and it’s causing bulls to become more confident that the worst is behind us and a new bull run is close to starting.
One crypto analyst that’s recently gained a lot of attention in the cryptosphere, is now claiming that all of the top cryptocurrencies are currently behind held back by Bitcoin’s current resistance level, and that once it breaks, a new bull run will begin.
Analyst: Bitcoin Bull Run Begins After Break of $5,260
Ethereum trader and crypto analyst ScienceGuy9489 has recently made waves in the crypto space after emerging from a long slumber that pre-dates the peak of the last bull run and sharing some charts that predict not only target prices, but break out dates for Bitcoin, Ethereum, Ripple, and Litecoin.
The bullish calls were almost immediately validated when Bitcoin price rose nearly $1,000 in an hour – more than the previous two months of price growth combined.
Related Reading | Crypto Community Speculates On What Triggered Massive Bitcoin Price Rally 
Since then, the analyst has become a bit of a crypto celebrity, sharing a number of charts and predictions on where the market will go next.

#BTC breaking out above $5,260 will cause another bull run. #ETH, #LTC, #XRP, #XLM, and other #cryptocurrencies are being held back by this. Expect big gains there when this #Bitcoin resistance is broken (and sustained). This is the weekly chart, a good long term indicator. pic.twitter.com/KkjzXgjDPu
— ScienceGuy9489 (@ScienceGuy9489) April 9, 2019

In his latest tweet, the crypto analyst claims that a breakout above $5,260 in Bitcoin price charts, will “cause another bull run.” He further suggests that Ethereum, Litecoin, Ripple, and Stellar – other major cryptocurrencies in the top ten by market cap – are being held back by the critical resistance level.
If the resistance is broken, he says to “expect big gains” if the rally is sustained. If Bitcoin is unable to break through $5,260 and maintain its gains, then he recommends selling the resistance until it is eventually broken.

Side Note: If it fails to surpass $5,260, it would not be a bad idea to sell until this level is broken.
— ScienceGuy9489 (@ScienceGuy9489) April 9, 2019

Trader Sets Lofty Price Targets For Top Cryptos
ScienceGuy9489’s previous predictions came with oddly specific breakout dates. The dates haven’t yet been reached, but all of the proposed breakouts of downtrend lines have occurred.
Due to the fact this trader appeared after well over a year of silence, only to appear and share charts that immediately played out, he’s being given additional credence for his predictions by the crypto community at large. However, the one piece of the puzzle that’s left investors scratching their heads: the price targets that beat each cryptocurrency’s previous all-time high.
Related Reading | Majority of Crypto Investors See Bitcoin Price at $100,000 to Millions Long-Term 
That’s right, the trader is predicting Bitcoin to reach $28,100, Ethereum to hit $2,090, Litecoin to reach $650, and Ripple to skyrocket to $4 per XRP. There’s no date as to when each target may be reached, but if he’s right about a bull run resuming with a break of $5,260, then these prices may soon become a reality.
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Is Over $3 Billion Is Sidelined Waiting to Enter Bitcoin and Altcoins?

This week, Bitcoin broke through key overhead resistance at $4,200 and rallied nearly $1,000 in a matter of an hour to over $5,000. The powerful rally may have signaled the end of the bear market that has been plaguing Bitcoin and altcoins for over a year, setting a higher high and capturing the attention of crypto supporters and pundits alike.
As bullish momentum picks up, new capital will flow into the crypto market. But capital that’s been sidelined in the crypto space all along, as much as $3 billion dollars worth, could also flow directly back into Bitcoin and altcoins like Litecoin or Ripple.
$3B in Crypto Just Waiting to Flow Into Bitcoin and Alts
Bullish sentiment in “crypto Twitter” has been ignited ever since Bitcoin’s break from its prior trading range between $3,200 and $4,200. It’s caused even the most bearish analysts to begin to consider bullish scenarios.

I keep hearing that we need new money to get back to ATH, but think about all the money parked in Tether and other stable coins. These are people who never actually left #crypto.
Also an interesting metric to watch.
— Jonathan Habicht (@HabichtJonathan) April 4, 2019

One particularly bullish scenario, would see as much as $3 billion in stablecoins that are currently “parked” waiting to enter the market once again, according to Blockfyre founder Jonathan Habicht, Habicht claims that investors currently sitting in Tether, USD Coin, and other fiat-backed stable coins have never actually left the crypto market, and could re-enter at any time.
Related Reading | Crypto Community Speculates On What Triggered Massive Bitcoin Price Rally 
The bullish claim was backed up by eToro senior market analyst Matt Greenspan, who suggests that there could be as much as $3 billion currently waiting for the right time to flow back into Bitcoin and other various altcoins.

Nearly $3 billion ready to flow into BTC and alts. https://t.co/kWTNCtbyZM
— Mati Greenspan (@MatiGreenspan) April 5, 2019

But Is Capital Really Ever “Parked” In Tether?
While Tether’s market cap alone supports up to $2 billion of the over $3 billion in “parked” crypto cited by Jonathan Habicht, there’s an argument to be made that much of the funds aren’t ever actually “parked” in Tether, and the capital regularly flows in and out of other coins on the market.
Related Reading | 2019 Crypto Alt Season Kicks Off With Over 20 Altcoins Doubling in Value
As one trader points out, Tether volumes trader over 5 times the entire market cap daily, which suggests that much of Tether is changing hands and flowing in and out of other cryptocurrencies on a regular basis. Therefore, the total $3 billion the analysts are eyeing may never fully make it into Bitcoin or altcoins all at once.

What other people have said. Virtually no money is "parked" in tether, because according to volume metric more than 5x the total coins change hands every day.
— MikeC316 (@Mike_Chapman_) April 5, 2019

It’s worth noting that much of reported cryptocurrency trading volumes, including Tether have been called into question in recent days, suggesting that wash trading has been running rampant across exchanges in the industry. But the idea that all stable coins will suddenly be dumped in favor of Bitcoin and altcoins will likely never come to light, as there will always be investors who are “tethering up” at the sign of any bearish signals.
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Bitcoin Price Plunge Incoming If Bulls Don’t Follow Through With Volume

This week, Bitcoin price rallied from the previous 2019 high of $4,200 to the first higher high of the bear market at over $5,000. While there is much speculation across the crypto community as to what sparked the massive rally, most conclude that the powerful upward movement was the result of one major player buying over 20,000 in BTC across three different exchanges.
Because the market was moved by one large whale, one analyst warns that if buyers don’t step in and follow through with substantial volume, Bitcoin price is at risk for a significant drop.
Recent Bitcoin Price Rally In Danger Of Drop If Buyers Don’t Capitalize
The entire crypto community is in an uproar over the latest Bitcoin rally, as it is the first higher high set since Bitcoin last touched its all-time high price of $20,000 per BTC back in December 2017. Since then, the leading crypto asset has ping-ponged between support and resistance, diminishing the asset’s value down to a 2018 low of $3,150.
Related Reading | Crypto Community Speculates On What Triggered Massive Bitcoin Price Rally
That low, is increasingly looking to be the elusive Bitcoin bear market bottom, which can only can be concluded in hindsight. But this recent rally has taken Bitcoin well out of the previous trading range between $4,200 and $3,200, topping out at around $5,150.
Because the crypto consensus at large is convinced that the entire movement was the result of one whale buying a large amount of BTC, one exceedingly bearish analyst (short-term) who has been calling for Bitcoin to set new lows, warns that a drop is incoming if buyers don’t follow through with volume.

If this was one buyer spiking the price, I want to see follow through with continued volume for Bitcoin
At this time, don't care about total marketcap with the garbage coins included$BTC makes up over 50% the cap
Lack of follow through in the coming weeks mean potential drop pic.twitter.com/WQa5dy5Tid
— Josh Rager (@Josh_Rager) April 2, 2019

Volume in markets is typically an indicator that confirms the strength of a trend. If a massive candle appears with low volume, chances are, the move is a fake out designed to hit stops and trap traders in bad positions. However, it a move up or down is accompanied by substantial trading volume, the direction is typically confirmed to be a legitimate market movement.
Related Reading | From Banks To Funds To Brokers, Everyone Outside of Crypto Is Talking Bitcoin Today
Take the drop from $6,000 into the $3,000 range that occurred back in November 2018 for example, when the bear market really ramped up in severity. The panic-induced plummet through $6,000 and continued bearish trend was confirmed by a significant increase in sell volume following the drop.
The inverse will need to happen following this most recent rally for buyers to confirm there is bullish momentum to support a trend change, and resume a cryptocurrency bull market. During the move, Bitcoin volumes on Coinbase topped over 40,000 BTC, so the trend is already off to a good start. However, it’ll need to continue to remain strong while Bitcoin price consolidates above around the recent higher high, before the market can continue upward with confidence.
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Bitcoin Price Surged More In 1 Hour Than Last Two Months Combined

Bitcoin is no stranger to powerful price movements, at times growing or declining in value by 20% to 50% intraday. As the bear market raged on, however, there has been a distinct lack of large green candles representing substantial Bitcoin price increases.
But that all changed this week when Bitcoin rallied, pushing the price of the leading crypto by market cap through resistance at $4,200 to over $5,000, setting the first higher high since its parabolic advance was broken back in December 2017. The violent rally took Bitcoin price higher in value in just one hour, than the prior two months of uptrend combined.
Bitcoin’s April Rally Makes Fool of February and March Uptrend
Prior to the current uptrend that began in early February, Bitcoin had closed a record six consecutive monthly red candles in a row. When both February and March closed in green, bulls rejoiced. However, the most recent Bitcoin rally easily bested both months in terms of value risen in just a one-hour candle, than the prior two entire months combined.
Related Reading | Crypto Community Speculates On What Triggered Massive Bitcoin Price Rally 
The uptrend began on February 7, when the leading cryptocurrency by market cap had neared support at the 200-week moving average, causing a strong bounce that many traders had been expecting. What they didn’t expect, is for the uptrend to continue over the next two months, taking Bitcoin out of the current trading range and above $5,000 for the first time in 2019.
During February, the price rose from a low of $3,350 to a February monthly candle close at around $3,800. In March, the price rose from the February close, slowly, until it touched the previous high at around $4,150 at the close of March. The entire move from early February through the end of March, brought the price of Bitcoin up by $800 in total.

pic.twitter.com/ATav8NtkfE
— lowstrife (@lowstrife) April 3, 2019

Yesterday’s rally candle, however, rose from $4,150, before topping out around $5,100, representing an approximately $950 gain in the opening days of April. The total rise in the one hour window grew $150 more than the previous two months combined, or a total of 59 days.
Related Reading | From Banks To Funds To Brokers, Everyone Outside of Crypto Is Talking Bitcoin Today 
April has historically had some of the largest green candles across the cryptocurrency’s price charts, with last April playing host to the massive “short squeeze” that took the price of Bitcoin from $6,700 to over $8,000 in a single move. That rally, was swatted down by bears back to lows, however, this current rally comes as the 2018-2019 bear market winds down, and sellers begin to lose momentum.
Should Bitcoin continue to climb from here, the crypto community will become increasingly confident that the bottom is in, and the next bull run is near.
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2019 Crypto Alt Season Kicks Off With Over 20 Altcoins Doubling in Value

Anywhere you turn in the crypto community, be it Reddit, Telegram, Discord, or “Crypto Twitter,” analysts and traders or altcoins everywhere are ranting and raving about the apparent “alt season” that is upon us.
Now that Q1 has come to a close, new data shows just how profitable alt season has been for traders, with over 20 individual coins doubling in value or more since the start of 2019.
Alt Season Proves Profitable for Crypto Investors, Over 20 Altcoins Seeing Double
Ever since Bitcoin fell through support at $6,000 to its current trading range, the market has been going through a bottoming process, where it builds a base of strong, impenetrable support at local lows. Since many altcoins also have bottomed, they too have been building up strong support in anticipation of a move higher.

#Altseason is upon us…
Bitcoin is up nearly 2% today yet BTC dominance is still dropping, now at 50.2%.
What happens if it drops below half? pic.twitter.com/ieYj7BJN2U
— Mati Greenspan (@MatiGreenspan) March 29, 2019

As these charts bottom out, taking the risk and accumulating altcoins has been paying off handsomely for crypto traders and investors. In fact, since the start of 2019, there are over 20 individual altcoins across the market that have doubled in value. Some have even done nearly an 8x during the quarter.
Related Reading | Crypto Comeback: One Simple Chart Proves Altcoin Season Is Upon Us
The insane gains are evidence enough that the crypto market being in an alt season is a very real reality. Some cryptocurrencies have appreciated more in one quarter than traditional assets ever will over the course of a ten year investment, to put things into perspective.

If this is not altseason I don't know what an altseason looks like!
Some top gainers of last months on @binance $ENJ 983%$MDA 868%$EVX 593%$OAX 547%$THETA 408%$HOT 316%$BNB 290%$KNC 261%$APPC 219%$ONT 214%$TRX 206%$VIV 192%$EOS 186%
What are you waiting for?
— Crypto Walker (@cryptoWalk3r) March 27, 2019

Topping the list of gainers percentage-wise, rests PCHAIN, the first “native multi chain system in the world that supports Ethereum Virtual Machine.” PCHAIN investors enjoyed at gain of over 792%, according to data from Messari.
The rest of the list is filled out by a variety of low and mid-cap altcoins, along with recent mover Basic Attention Token, and the seemingly unstoppable Binance Coin, which has nearly done a 200% run since January 1st.
Where Will Alt Season Take Us Next?
Altcoin season can occur during both Bitcoin rallies and declines, however, they most commonly happen during times that Bitcoin trades sideways. The stability seen in Bitcoin gives market participants more confidence in the altcoins market.
Related Reading | Experienced Altcoin Trader Outlines Expectations For Bitcoin and Alt Bull Cycles
Bitcoin itself is at a critical juncture, and is ready to either retest bear market lows, or rally to a new trading range. Depending on what Bitcoin does from here, it could put a damper on alt season if Bitcoin were to go on an independent run.

Now that many are all expecting this to be the bottom, expecting an altseason and a bullrun.
Imagine how desperate this place would be if dumped like in November. #Crypto $BTC
— Jonathan Habicht (@HabichtJonathan) April 1, 2019

If Bitcoin were to take off, traders may begin to take profit on their alt holdings and FOMO into Bitcoin during the asset’s liftoff from its bottom formation.
Alternatively, if Bitcoin falls, fear may return to the market and an altcoins selloff could occur. Regardless of what happens next for altcoins, they very much hinge on Bitcoin’s next move.
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Bitcoin Has a Massive $80M Sell Order, But Breaching it Could Lead to a Rally

All eyes are on Bitcoin as it brushes up against powerful downtrend resistance, while straddling the top of the current trading range the cryptocurrency has been locked in throughout all of 2019. While a number of crypto analysts and traders are anticipating a rally, a massive sell order has appeared that is currently keeping prices at bay.
However, should Bitcoin price break through the sell wall, it could provide the rocket fuel for the potentially rally to over $5,000 per BTC that analysts are calling for.
Massive $80M Sell Wall Keeps Bitcoin Price at Bay
Crypto holders with massively large amounts of assets or capital are affectionately called whales, for their ability to create massive price movements whenever they surface. Oftentimes, these whales place extremely large – often millions of dollars worth on order – orders called sell walls, with the goal of holding price to a certain area, or to prevent price momentum from breaching resistance.

$BTC There is now an $80 million wall above the price action once again. That is a hell of a wall and fuel to take us higher. This is not a guarantee that the price will go up but it is a guarantee that there are plenty of sellers to move the price up if there are enough buyers. pic.twitter.com/ozbTyjwSuy
— Bleeding Crypto (@Bleeding_Crypto) April 1, 2019

One such whale has placed an extremely large sell order – as much as $80 million dollars – over the current price action as a means to hold Bitcoin’s price at the current level a while longer. These “walls” are sometimes pulled once the whale’s satisfied their selling, or can be used as part of their strategy to spook buyers. Other times the walls are enough to change the direction of a trend, and cause a rally to fail.
Related Reading | Crypto Bull Returns, Predicts Targets For Bitcoin, Ethereum, Ripple, Litecoin 

However, if this wall is eaten through by buyers, it could provide the rocket fuel Bitcoin needs to breach overhead resistance with gusto, and take the leading crypto into a new trading range, confirming the bear market bottom is behind us.
If Bitcoin Breaks the Wall, What’s Next?
Bitcoin has continued to inch ever closer to powerful overhead resistance both due to a combination of normal horizontal resistance and the downtrend resistance line stemming back from all-time high. Due to the convergence of  important lines, the entire crypto market is watching and waiting for the king of crypto’s next major move.
A break of current resistance should fill the overhead volume gap and send Bitcoin to over $5,000, but only if buyers are able to eat through the massive sell wall.
Related Reading | Crypto Analyst: Do Or Die For Bitcoin As Downtrend Resistance Nears Closer 
The last time Bitcoin approached the downtrend resistance line, was back in November of 2018. The last touch of the line resulted in a violent move downward to the current trading range, where Bitcoin set its current bear market low of $3,200.
Since then, Bitcoin has been ranging, while the world speculates if the bottom is indeed in or not. The next moves for Bitcoin could set the trend over the next six months or longer, depending on the move and how powerful it is. Another drop down could see Bitcoin trying for new lows, while a sharp move up could signal the bear market has concluded, which could spark a new bull run in the cryptocurrency market.
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Crypto Bear Market Provides Opportunity For Major Corps, As CP Group Acquires Omise

The crypto bear market has been the longest on the record books, causing most cryptocurrencies to decline in value by 85% or higher. While the flight of capital from the crypto market has been brutal for retail crypto investors who bought in at the height of the hype bubble, the bear market has proven to be a unique opportunity for corporations seeking to enter the blockchain or cryptocurrency arena.
The latest example of this was demonstrated by the acquisition of Omise, by Thailand’s wealthiest company, CP Group. CP Group is following the lead of others interested in the space, and are taking advantage of the lowered valuations of these crypto-focused companies during the ongoing bear market.
Thailand’s Richest Company Acquires Omise Payments Firm
According to The Block, Omise, the payments company behind the ERC-20-based OmiseGo, has been acquired by the largest private company in all of Thailand, Charoen Pokphand Group (CP Group). The acquisition was reportedly made for the sum of $150 million, according to sources close to the matter.

The 4th richest family in Asia has purchased @Omise, the payments firm behind the Top 25 crypto token @omise_go $OMG for up to $150 million, with plans to utilize its payments technology https://t.co/XjU4uYJOty
— Mike Dudas (@mdudas) March 29, 2019

CP Group is owned by the 4th richest family in Asia, the Chearavanont family, and is one of the largest conglomerates across the entire globe. The importance of their interest in the cryptocurrency space cannot be overstated.
Related Reading | Crypto Analyst Expects Multi-Year Bear Market
The Block reports that CP Group Executive Chairman and Fortune Magazine owner Chatchaval Jiaravanon is working to acquire companies that can be used for crypto payments, such as Omise. The crypto projects being sought include an agricultural division.
Omise is among the leading payment gateways in Thailand, which may have sparked CP Group’s interest. OmiseGo, the token used for payments, has already surged as much as 12% after the news broke.
Other Corporations Eye Crypto Projects During Ruthless Bear Market
It’s not just CP Group that’s got their eye on crypto projects in dire need of support following a long arduous bear market. Los Angeles-based investment firm Maco.la has been scooping up infrastructure companies now that their valuations have nose-dived.
Related Reading | Crypto Prices May Be Down, But Industry Fundamentals Are Healthier Than Ever
“We felt like the best way to make money is to buy the infrastructure companies — the picks and shovels — that are helping build the foundation,” explained maco.la co-founder and principal advisor Sheri Kaiserman. “They are coming down in valuation, which is the best part of the crypto winter for us,” she added.
Many corporations are left scratching their head, trying to understand and leverage emerging technologies like cryptocurrencies and blockchain, like the internet before them. During the dot com boom, many companies opted to buy fledgling startups rather than invest in their own infrastructure. Considering this new trend following the bear market, the crypto industry may be witnessing a similar situation across the crypto landscape.
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Crypto Prices May Be Down, But Industry Fundamentals Are Healthier Than Ever

The cryptocurrency market has been through the wringer over the past 15 months. The prices of most altcoins have plummeted by 90% or more from their all-time highs, and the king of crypto itself, Bitcoin, has declined as much as 85% as well.
But despite prices being far lower than they once were, the health of the industry itself is only getting stronger fundamentally, according to one cryptocurrency analysis firm.
Boston-Based Data Firm Reveals Crypto Industry Is Healthier Than Ever
While sentiment around the cryptocurrency market is still extremely bearish – and rightfully so considering the severity of the current bear market –the market is showing signs of maturing, and undeterred developers and users of top cryptocurrencies have continued to chug along.
The result is an industry that is a lot healthier than prices may reflect, according to Boston-based crypto analytics firm Flipside Crypto. The cryptocurrency number-crunching company has released what it calls the FCAS25 – an index that tracks the overall health of the crypto industry over time, using key metrics such as user activity, developer behavior, and market maturity.
Related Reading | Crypto Bull Returns, Predicts Targets For Bitcoin, Ethereum, Ripple, Litecoin
According to Flipside Crypto’s FCAS25, which is based on a “time-weight moving average” of 25 individual cryptocurrencies, the market health is far stronger now than it was one year ago, and is ten points shy of its previous all-time high.
The Coinbase Ventures-backed Flipside Crypto says that market maturity, one of the three key factors it uses to determine industry health, has actually fallen since the 2017 peak of the bull run. Since market maturity is tied to “conventional understanding and public perception of the crypto-asset space,” it is reasonable that it has declined ever since the media storm of 2017 that sent Bitcoin into the stratosphere and made it a household name.
Developer behavior has stayed relatively consistent, “gradually increasing among the Flipside 25 over the course of the last 2 years.” Flipside says that this demonstrates a “healthy commitment among the teams supporting the ongoing improvements to the top crypto projects.”

*Today's Daily Mover*: KIN (@kin_foundation). New integrations, mainnet launch, and developer programs have KIN fundamentals on the rise: https://t.co/t82zgmeY3F #crypto #data #fundamentals pic.twitter.com/rHP8bqMizL
— Flipside Crypto (@flipsidecryptod) March 28, 2019

User activity, has only grown significantly among “top projects,” the firm says. “This leads us to believe that while investor interest has perhaps waned since early 2018, the top projects have successfully increased on-chain traffic and utilization of their projects; a sign of underlying fundamental health.”
Flipside Crypto: The Cryptocurrency Industry is “Humming”
Flipside crypto calls their FCAS25 “a single, consistently comparable value for measuring cryptocurrency project health.” The formula uses a list of cryptocurrency projects that ebbs and flows based on their fundamental health. Together, they’re weighted to determine the overall health of the entire industry. The crypto industry, says Dave Balter, CEO of Flipside Crypto, is “humming.”
Related Reading | Fundamental Analyst: 90% of Smaller Crypto Projects Will Result in Complete Loss
“When cryptocurrency prices are down, everyone worries about industry health,” he explained. “But price is a poor indicator for whether cryptocurrency projects and platforms are gaining customers or delivering product to the market.  We developed the FCAS25 to provide clarity into the fundamental health of cryptocurrency organizations, that isn’t reflected in price.  The data proves the cryptocurrency industry is far from over.  As a matter of fact, it’s humming.” 
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