Altcoins Bottomed Against BTC in September Says Analyst; Is Altseason Knocking?

Altcoins are on a short slump against Bitcoin (BTC) at the moment despite gaining ground against the top cryptocurrency in the past few weeks. According to sampled crypto trading analysts, the altseason could be fast approaching as BTC further slumps below $8,000, setting a run downwards towards $7,500 support level.
Across the top 10 cryptocurrencies, only Litecoin (LTC), Bitcoin SV (BSV) –both which have a very high correlation to BTC’s market sentiments – and Binance Coin (BNB) lost significantly against the dollar in the past 24 hours.
‘Altcoins Bottomed in September,’ Analyst Remarks
Looking at the charts, altcoins have had a smooth run against Bitcoin (BTC) since the start of Q4 as seen at the right end tail of the chart below. The unrelenting surge in altcoin value against BTC since September has finally confirmed the bottom for the second fiddle cryptocurrencies against their emperor, BTC.
Source: Woo Charts
Luke Martin, a crypto trading analyst and host on Coinist Podcast, explains that the long bear run across the altcoin market has effectively ended given the vast number of coins showing signals of pulling out of a 6-month downtrend.
“Alts collectively started trending down vs $BTC around April 1st when $BTC broke above $4,000 USD,” Luke wrote on Twitter.
Furthermore, taking four random coins across the top 100 tokens (except the top 10 coins) in market cap, Martin shows a similarity in the overall trend in altcoins against BTC.

Alts collectively started trending down vs $BTC around April 1st when $BTC broke above $4,000.
I marked April 1st on the chart for 4 random alts.
You can see the downtrends on all of them have stopped, for now.
Cycle lows put in around Sept-October.
Worth keeping an eye on! pic.twitter.com/pg191AmjyD
— Luke Martin (@VentureCoinist) November 20, 2019

Top 10 Cryptos Correlation Surges to Pre-September Highs
Looking at the correlation charts across the top 10 cryptocurrencies (including BTC), the sharp dip in correlation, to 55% in September and to 59% at the end of October, following BTC’s sharp rises , is quickly weaning off.
Image: Skew Markets
Currently at 73.6%, the altcoin movement targets highs last recorded in August which may be good news for the altcoin market. The high correlation across altcoins as technical indicators show a possible uptrend – a pleasing signs for alt bag holders.
An Incoming $28 Billion Boost in Altcoins?
According to a tweet shared on Nov. 12 by Rekt Capital, a featured trader on Forbes, the alt season is in play as coins experience the never-ending Q4 hype cycle once again.

Altcoins are already experiencing the Q4 Altcoin Hype Cycle$BTC $ALTS #Crypto pic.twitter.com/e3rJE2u7Zp
— Rekt Capital (@rektcapital) November 12, 2019

The altseason hype is currently gaining heat as investors dump their satoshis to grab some alt bags. Crypto Bombshell on Twitter predicts a possible $28 billion dollar boost in the altcoin market before the end of the year, asking investors to select the right alts to grow their crypto bags.

Altcoin market cap (excludes $btc)
I think we're about to see a $20billion increase in the entire altcoin marketcap. Thats a 28% increase across all your favorite cryptocurrencies. Those with positive FA and TA set ups will yield better returns. Plan wisely. pic.twitter.com/oAty5dSwkq
— CryptoBombshell 🐸🧢 (@cryptobombshell) November 17, 2019

An inverted head and shoulders patters is forming on the total altcoin market cap charts signaling a possible bullish run in the market before 2020 kicks in.
The post Altcoins Bottomed Against BTC in September Says Analyst; Is Altseason Knocking? appeared first on Coingape.
Source: CoinGape

Analysis: ETH/BTC Price Grows 7% in the Past 24 Hours, Has the Pair Finally Bottomed Out?

Ethereum (ETH) price against Bitcoin (BTC) is on the rise as the second largest cryptocurrency pair gained 7% in the past 24 hours. The solid price gains comes amidst a volatile period in the BTC market that saw the pioneer cryptocurrency’s price skyrocket to levels above $9,000 USD before crashing to $8,700 support levels at the moment.
Ethereum Sees Solid Growth as Bitcoin Slows
A mundane consolidation phase ensued on the ETH/USD pair since hitting a high of $199.71 on October 26 in a market that looks ripe for a possible bull run in the coming days. A formation of a bullish rectangular trading pattern on the pair’s daily candle charts signals a possible bullish run in the coming weeks.
However, zooming in to short term charts, the price looks to be on a bearish reversal. Looking at the 4-hour candle charts, the price is on a mini-downtrend and is set to test the minor support level at $182. A break below this support signals downward pressure towards the $178 major support level.
Source: TradingView
A bounce above the minor resistance will be a very bullish signal for ETH/USD, which may push the price to test the major resistance levels at $194 and $199.
Has ETH bottomed against BTC?
As ETH holders look at a bright future, BTC traders are not as optimistic as the price of BTC saw a $300 USD drop in the past 24 hours, shortly after reaching resistance levels at $9084 USD. ETH/BTC pair is on a steady rise since the start of November signaling a possible bottom for the price of ETH against BTC. Is a break out above resistance levels at 23,000 sats possible?

The question no-one dares to ask anymore 🤒
Has ether bottomed relative to bitcoin?
Some timid signs of rotation last week: +7% ETH/BTC pic.twitter.com/WHVIXnq7hZ
— skew (@skewdotcom) November 11, 2019

A formation of a bullish triangle on daily candle charts also signals a possible bullish trend in price. The prices bounced off the support level at 18,978 sats on Oct. 26 skyrocketing to 21,400 sats, as at time of writing. A break above the minor resistance levels at 21,900 sats and 22,300 sats may be a catalyst to spur growth to major resistance levels at 27000 sats – a level last witnessed in July.
Source: TradingView
Alt-Season on the Way?
Whenever, the price of ETH appreciates sustainably against BTC, the crypto universe starts whispering on a possible alt-season in the near future. The current bullish trend in the ETH/BTC pair is no different. One crypto trader on Twitter warns that the alt-season is here with us and investors should start checking their bags for the right tokens.
Source: Twitter
Do you think ETH is poised for a bull run? Share your views with us in the comments below!
The post Analysis: ETH/BTC Price Grows 7% in the Past 24 Hours, Has the Pair Finally Bottomed Out? appeared first on Coingape.
Source: CoinGape

Altcoins Rally as Bitcoin Dominance Drops Lower, Has Altseason Begun?

In a rare scene today all of the altcoins are in the green and many are outperforming Bitcoin as dominance drops lower. The market share chart for the king of crypto has been showing signs of a pullback which of course is good news for the altcoins.
Bitcoin Reclaims $8k But Dominance Below 69%
Following a Monday dip into the high $7,000 level BTC bounced back yesterday to reclaim $8k and top out just over $8,300. Yet again resistance has proved to be too strong here and Bitcoin fell back below $8,200 where it currently trades within its two week range bound channel.
According to Tradingview.com BTC dominance has now dropped below 69% to a two month low.  It is clear from the following chart that a pullback period has begun and Bitcoin’s market share is likely to shrink further. The next support level in terms of dominance is 66%.
BTC dominance – tradingview.com
The failure of BTC bulls to break resistance has been good news for the altcoins, many of which are rallying well during Asian trading today.
Ethereum is currently out-performing its big brother with a 4% pump over the past 24 hours to top $180. ETH is still pretty weak in the grand scheme of things but recovery has to start somewhere and its market capitalization is almost back to $20 billion.
Chart guru Peter Brandt observed the ETH/BTC pair and how it is about to break out for Ethereum.

Bottoming construction in $ETHBTC $ETH pic.twitter.com/zbi0slEQzR
— Peter Brandt (@PeterLBrandt) October 7, 2019

Ethereum is unlikely to truly rally until it can retake the psychological $200 level without being dragged up by its big brother. The last time Bitcoin had dropped to $8k, in August 2018, ETH was priced at $400 so it still has a long way to go.
Ripple’s XRP has had a second strong day adding a further 3% to reach $0.275 but it too is way down from last year’s prices and has been one of the worst performing altcoins this year.
Bitcoin Cash has retaken fourth spot from Tether with a 3% move to reach $230 again but like those above it, BCH is still pretty weak still.
A 4% move for Litecoin wasn’t enough for it to retake $60 and it has been very lackluster since the halving two months ago which halved its price in addition to the perceived supply.
EOS is the top ten’s top performer with 5% on the day to reach $3.20 but it is still down over 60% from its 2019 high. Binance Coin made a similar 4% move to get to $16 but the exchange based token is also down 60% from this year’s peak.
Total market cap has increased by $8 billion since the weekend and it has been largely due to altcoins having a good start to the week. It could be the beginning of something bigger or just another minor blip in the ebb and flow of crypto markets.
Image from Shutterstock
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Bear Market Indicators Returning as Bitcoin Dumps Below $7,800

The weekend brought a little hopium as Bitcoin prices topped $8,200 briefly, however the doom and gloom has returned on Monday morning as BTC has dumped back into the $7k region again. The longer term chart indicators are mounting up and they are all screaming bear market.
Bitcoin Slides Below $7,800
Following a weekend of relative stability above $8k BTC has started to slide again as we start another week in crypto land. According to Tradingview.com the decline to $7,760 a few hours ago marks a 5 percent loss over the past 24 hours.
BTC prices one hour chart – Tradingview.com
Bitcoin has now retouched its five month low and the technical indicators are looking ominous. The weekly candle closed on a red doji as pointed out by Josh Rager, however the indecisive formation is likely to be overruled by the bears this week.

$BTC – That weekly doji candle pic.twitter.com/8GSFtckyei
— Josh Rager (@Josh_Rager) October 6, 2019

The fourth red weekly candle in a row has not happened for two years as volumes continue to decline. Additionally, BTC is now firmly below the 200 day moving average and this does not look good for the immediate future.
Trader ‘Cryptonaire’ pointed out that this is usually a sign of prolonged consolidation or further declines.
“NEVER has $Btc gone above or below the 200 MA and had an immediate pullback. There’s a 20% minimum move before going in opposite direction even if it’s just a wick,”
Fellow trader and analyst ‘Crypto Hamster’ made some similarities between the 2018 final dump into crypto winter.
“It is too obvious to be true, but I have to admit that the drop from 6k to 3k and the following price action indeed looks very similar to what we have now,”

It is too obvious to be true, but I have to admit that the drop from 6k to 3k and the following price action indeed looks very similar to what we have now (the scale is different, of course).$BCT $BTCUSD #bitcoin pic.twitter.com/HFt0DfydlD
— CryptoHamster (@CryptoHamsterIO) October 6, 2019

While a dump to $3k is still a long way off, $6k is looking closer every day as the bears gather strength. The negative sentiment for Bitcoin has been reflected in its market dominance which has fallen back below 70 percent. As reported by NewsBTC yesterday, this could be good news for the altcoins but at the moment they too are falling back on red Monday.
Altcoins Also in Pain
Ethereum has dumped back below $170 as it blindly follows the declines of its big brother. The ETH and BTC charts have been virtually identical over the past week or so as the world’s decentralized computer fails to decouple from its leader.
Ripple’s XRP is holding above $0.25 but it has shown nothing significantly bullish for most of this year and will take a monumental announcement or altcoin wide recovery to move higher.
Tether has topped BCH to take fourth place in terms of market cap as it trades at a slight premium while altcoins are dumped. At the time of writing only Chainlink is in the green and altseason is still a long way away.
Image from Shutterstock
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Ethereum [ETH] Tests $200 on BitPay Addition – Analysts Extend Bullish Targets

BitPay Adds support for Ethereum
Analysts Suggest Ether [ETH] could lead the alt-season again, as it looks to break above $200.

Ethereum [ETH] gained 1.81% on Monday as the altcoin broke above 0.019 resistance level on Bitcoin [BTC] scale. The price of ETH at 3:30 hours UTC on 17th Sept. 2019 is $196.14.
ETH/USD 4-Hour Chart on Bitstamp (TradingView)
The rise has been supported by both technical and fundamental positive news for the cryptocurrency last day.
BitPay, a blockchain-based payments provider, announced support for Ethereum. Currently, it only facilitates Bitcoin and stablecoin payments only. Stephen Pair, CEO of BitPay told the media,
“As one of the largest crypto currencies by market cap and one used by thousands of companies, Ethereum is the next logical choice.”
BitPay’s existing merchants include Microsoft, Newegg, Dish Networks, FanDuel and Avnet. Vitalik Buterin, the co-founder of Ethereum, said that the move would increase the real-world use-cases of Ethereum. The payments processing is expected to go live by next week.
Bulls Vs. Bear
Crypto traders on twitter are turning favorable to Ethereum and other altcoins. According to Escobar, it is indicative of the beginning of the altseason. He tweeted,
$ETH 1D TF- ETH leading Alts to glory in September begins. See you at FourFiddy
However, Bitcoin coder and maximalist, Udi Wertheimer, believes that it is a fake bounce. He entered into a $1000 bet with another trader, Crypto Loomdart that the price will go below $0.016 BTC in 2019. Udi also reiterated that the margin trading feature on Binance would assist his cause.
Nevertheless, Loomdart is highly confident about his analysis. Ethereum [BTC] broke above his designated buying levels and resistances.
ETH/BTC Buying Level and break-out (Analysis Source: Twitter)
Co-incidentally, Escobar suggested that it is highly unlikely that ETH breaks below $150. It falls in line with the 0.016 BTC approximation at current Bitcoin prices. Escobar’s optimistic targets are near $480.
Furthermore, Zhoran trader who has set up swing targets at $220 tweeted,
$ETH Update: Swing 1 complete. E2E completed with a kumo breakout. Tagged $200 on the money. Took Profit. Asks set from 200-202 until further notice. #crypto
ETH/USD Swing Trade Prediction (Source: Tweet)
According to him, a correction below $190 is viable, but, the trend is positive.
The Ethereum protocol is awaiting its revamp in 2020 with its 2.0 version. The crypto is currently getting 20% of its is transaction volume from Tether and is aiming to grow Dapp adoption. Nevertheless, while Ether is leading in terms of MCap, there is stiff competition in the smart contracts market.
Do you think that Ethereum will be to initiate the alt-season again? Please share your views with us. 
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Source: CoinGape

Bitcoin Dominance Hits New 19 Month High as BTC Approaches $13k

There just seems to be no stopping Bitcoin at the moment. A day after many predicted further losses BTC has defied them all again to surge through resistance as it pushes towards $13,000. The move has also taken its market share to the highest level since December 2017.
Bitcoin Barrels Through Resistance Again
For the past week or so BTC has been largely consolidating and cooling off. With lower highs and lower lows being posted many expected a further drop down to $10k or below. Just yesterday many of the top followed traders on crypto twitter said that a bearish weekly close could spell further losses.
As testament to the volatility and nature of crypto markets, Bitcoin defied them all. The move has come in three stages over the past 24 hours, firstly a lift from the $11,500 level to $11,800 where it stayed for a few hours, then the big break through $12,000.
BTC price 24 hours. Coinmarketcap.com
A few hours ago during early Asian trading Bitcoin surged again hitting an intraday and July high of $12,750. Daily volume has ramped up again from below $20k to over $25k as the BTC steam train gathers momentum. Trader and analyst Josh Rager was one of those who got it wrong yesterday.
“Fool me once, shame on you… Fool me twice, shame on me. No way was I shorting Bitcoin after a close under the resistance again. Not much stopping this train, just minor daily & weekly resistance left until new yearly highs,”

$BTC Update
Fool me once, shame on you… Fool me twice, shame on me
No way was I shorting Bitcoin after a close under the resistance again
Not much stopping this train, just minor daily & weekly resistance left until new yearly highs pic.twitter.com/81Fy43HJZw
— Josh Rager (@Josh_Rager) July 9, 2019

The next resistance level before another new high for the year is just below $13,000, very close to where BTC is currently trading at the time of writing.
BTC Dominance Over 66%
As we have witnessed countless times since this rally began in April, BTC is dominating and altcoins are barely moving. BTC market share is approaching 67 percent according to Tradingview.com. The epic 11 percent pump on the day has been responsible for the big move in total crypto market cap as the altcoins have been left in the digital dust as usual.
Over $25 billion has been added to crypto markets in the past day and $22 billion of that is Bitcoin alone. Analyst David Puell has commented on the total lack of altcoin action which has led to very little profit from diversification in 2019.
“At least in comparison with 2017, we haven’t had an alt season. Diversification has become a scarce play for crypto portfolio managers.”

$BTC: At least in comparison with 2017, we haven't had an alt season.
Diversification has become a scarce play for crypto portfolio managers. pic.twitter.com/AEo26O5lAy
— David Puell (@kenoshaking) July 8, 2019

There is literally nothing to see on altcoin markets today as most of the majors struggle to gain 2 percent. Some such as EOS, Tron, Stellar, Cardano, Monero and LEO are even falling back as bitcoin continues to devour them.
Image from Shutterstock
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Crypto Markets Dump $55 Billion as Bitcoin Correction Deepens

An inevitable correction has begun since crypto markets hit their giddy heights of $387 billion market capitalization on Thursday. Saturday morning paints a different picture as Bitcoin cools off heading south in a predicted pullback.
Crypto Correction Deepens
Since Thursday’s Bitcoin and crypto market peak things have taken a predictable turn south. Bitcoin fell from its 15 month high of $13,800 down to $10,300 marking a 25 percent decline. Yesterday BTC appeared to recover a little, getting back to $12,400 for a few hours but it has started to fall again during the morning’s Asian trading session.
At the time of writing BTC had dropped back to $11,500 which is over 16 percent down in two days. It is now sitting on a support level which, if broken could lead to further losses back below five figures. This wouldn’t be too bad in reality; a 30 percent plus correction will be back at $9,500 where more accumulation is likely to occur.
Crypto trader ‘SalsaTekila’ concurs that further losses could be on the cards with a resistance level way below $9k.

$BTC looks like ass below ~12'400$, I think more blood. pic.twitter.com/OMqxocsSO5
— SalsaTekila (JUL) (@SalsaTekila) June 29, 2019

Analyst Luke Martin is a little more bullish however:
“If $BTC bounces here off support and moves higher I can’t wait to see the Bitcoin up on news that Xi and Trump agree to restart trade talks narrative”

If $BTC bounces here off support and moves higher I can't wait to see the Bitcoin up on news that Xi and Trump agree to restart trade talks narrativehttps://t.co/whXLOeX4Ek pic.twitter.com/ZHcfFN7UZo
— Luke Martin (@VentureCoinist) June 29, 2019

Total crypto market capitalization as shrunk by $56 billion since Thursday. Currently it is just over $330 billion as record trading volumes trail off to below $100 billion. Yesterday saw a lower high so a lower low could follow as the pullback accelerates.
Altcoins In A World Of Pain
There has been a lot of talk of altseason last week and many expected some kind of movement when BTC finally corrected. Clearly the altcoins are still hopelessly coupled to Bitcoin as they have all plummeted, most by double digits, during Thursday’s rout.
Ethereum, which had been making slow but steady progress, had fallen back below $300 again. This still makes ETH an attractive buy at 78 percent off its all-time high. XRP hadn’t really moved a lot during Bitcoin’s epic rally but the Ripple token has dumped 16 percent over the past couple of days, back to $0.41.
Bitcoin Cash has been relatively unscathed, remaining above $400 and flipping Litecoin for fourth spot. Litecoin has been hit hard, falling 20 percent on the week back to $117. LTC momentum is likely to pick up again though as the halving, which is only 37 days away, approaches.
Other altcoins have also been trounced, EOS is back at $6 while Cardano, Tron and Stellar have declined considerably. Altseason is still clearly nowhere to be seen yet as Bitcoin continues its correction.
Image from Shutterstock
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Altseason Calls Escalate Following Major Bitcoin Volatility

The calls for a Bitcoin correction have been getting stronger. Talk of altseason has also started to intensify as many expect the daddy of crypto to take a breather sooner or later. Altcoins have generally been battered during this recent digital gold rush but that could all change if BTC pulls back.
Bitoin Bounces From Flash Crash
Just a few hours ago Bitcoin proved that massive swings and extreme volatility is still ever present. Another new high of $13,800 was hit before a flash crash wiped out almost 15 percent in just over an hour. BTC dumped $2,000 back to $11,800 as some major exchanges, such as Coinbase and Binance, reportedly suffered outages.

Binance and Coinbase completely crashed and unresponsive https://t.co/qG3a7IHwBa
— Moon Overlord (@MoonOverlord) June 26, 2019

The rout didn’t last long and Bitcoin was soon back on its digital feet trading above $13,000 again. At the time of writing the volatility shock appears to have settled with BTC hovering around $12,300.
Bitcoin Correction to Ignite Altseason?
Many are asking whether this insane volatility is the beginning of a Bitcoin correction and if it will spur the launch of the altcoin trading season. Quoting Ikigai Asset Management chief Travis Kling, analyst Luke Martin observed how few huge green daily candles Bitcoin has had and what immediately followed.
“I’m not sure how many +15-20% daily candles Bitcoin has ever had but they can’t last forever. There was one on Dec. 7th (from 13k -> 17k) that was followed by a 20% pullback the very next day.”

Wise words from @Travis_Kling.
I'm not sure how many +15-20% daily candles Bitcoin has ever had but they can't last forever.
There was one on Dec. 7th (from 13k -> 17k) that was followed by a 20% pullback the very next day. https://t.co/3aMCkoQuhp
— Luke Martin (@VentureCoinist) June 26, 2019

If Bitcoin pulls back below five figures momentum is likely to swing into the altcoins which have been lack luster of late. Now that the bull market has been initiated, all crypto assets are likely to increase for the rest of this year and beyond. Fundstrat’s Tom Lee is in agreement that the time of the altcoins could be almost upon us. Quoting crypto traveller ‘Heidi’, Lee concurred;
“This ALT season reminds me of the early days of the 2017 bull. Some will pop, some will stay quiet until they don’t. However I am now seeing a lot of small caps exploding higher.”

There will be an alt season… https://t.co/lLJKKprbAv
— Thomas Lee (@fundstrat) June 26, 2019

As reported by NewsBTC yesterday, crypto warlord John McAfee also thinks that altcoins could be about to surge, some making tenfold gains, he tweeted:
“The real winners, beginning soon, will be the altcoins 10x + the rise in Bitcoin. Top of the heap will be the ones most beaten down in the Bear Market”
A lot of the lower cap altcoins have been gaining double digits recently; however most are in the red today following Bitcoin’s flash crash. Those getting battered at the moment include Crypto.com Chain, Zilliqa, VeChain, BSV, BTG, Cosmos, and EOS. If all predictions ring true and history rhymes, many of them will not be on the floor for long.
Image from Shutterstock
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Bitcoin Train Passes 64% Market Dominance as Altcoins Get Derailed

For the third day in a row, the speeding freight train that is Bitcoin has broken through resistance and pushed even higher. The surge has eaten into the altcoin markets so much that BTC dominance is at its highest level since it went parabolic in December 2017.
Bitcoin Dominance Tops 63%
Bitcoin traded at just south of $13,000 a couple of hours ago during the Asian morning session. The move marks again of 13 percent on the day and another new 2019 high as the BTC train shows no sign of slowing down. Bitcoin held on to gains above $11k for most of yesterday and broke through resistance, which was not very heavy, at $11,500 a few hours ago before powering all the way up to $12,950.
Daily volume has cranked up to $30 billion as market cap increases even further above $220 billion. The next hurdle appears to be around the $14k level but once that is broken there isn’t much in the way of a surge back to all-time high and beyond. Analyst Josh Rager has called $14,200 the final gate before a massive surge to new highs. He confidently added;
“After price passes $14,200 there isn’t a lot standing in the way to new all-time highs. I’m not going to try to stand in front of a moving train,”
Bitcoin’s share of the market is now above 64 percent, according to Tradingview.com, its highest since December 2017 when BTC hit $20k.
Altcoins Decimated But Don’t Fret
Bitcoin is simply eating them alive and some are already jumping ship which will only worsen the situation. Full time crypto trader ‘Anondran’ wants out;
“Can’t take this anymore. Bitcoin is decimating my Altcoin bags. Selling all my Alts to BTC before they drop another 50%….”

Can't take this anymore. Bitcoin is decimating my Altcoin bags.
Selling all my Alts to BTC before they drop another 50%….
— Anondran (@anondran) June 25, 2019

Selling altcoins now really isn’t the smartest move, especially if you look back at 2017 and see what happened there. Altseason will come but not all will be winners. Crypto pundit John McAfee is in agreement claiming that the time of the altcoins will be upon us soon.
“Bitcoin cranking up, but the real winners, beginning soon, will be the altcoins 10x + the rise in Bitcoin. Top of the heap will be the ones most beaten down in the Bear Market – Docademic, Apollo, XTZ, etc. This is where the real money is to be made. Fill your bags folks.”

Bitcoin cranking up, but the real winners, beginning soon, pwill be the alt coins 10x + the rise in Bitcoin. Top of the heap will be the ones most beaten down in the Bear Market – Docademic, Apollo, XTZ, etc. This is where the real money is to be made. Fill your bags folks. pic.twitter.com/Mgh8KVd4M2
— John McAfee (@officialmcafee) June 26, 2019

There are other higher cap altcoins that are still absolutely smashed and these include XRP, Bitcoin Cash, Tron, Cardano, Stellar, Dash, NEO and IOTA – all down over 80 percent from their all-time highs.
Altcoins were slower to react in 2017 and the same is happening in 2019. Those cautious about investing into a parabolic curve may do well to consider some of the altcoins, especially if history repeats.
Image from Shutterstock
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Has Altseason Begun as Bitcoin Dominance Begins to Dwindle?

What goes up must come down, or so the saying goes. Bitcoin’s epic ride over the past two months has seen it over double in price. Most of those gains have been at the expense of the altcoins, many of which have been lack luster lately. That could all be about to change as we gear up for altseason.
Bitcoin Dominance Dropping
One strong indicator that altcoins are about to make a revival is the fall in Bitcoin market dominance. Today it has fallen back to 55.3 percent, its lowest level since the beginning of the month. BTC dominance is still up compared to earlier this year but the slow decline could be a sign of altcoin resurgence.
Back before there was a plethora of stablecoins traders would convert from BTC to alts and vice versa, the two were inversely correlated. This may be starting to happen again, especially if confidence in Tether has fallen due to recent developments. Trader Josh Rager has also noticed the decline but maintains that it will not be altseason until dominance drops below 50 percent;
“% of $BTC dominance continues to slowly move down over the past 3 days. This is good for alts. I’m in $EOS which continues to make higher highs in USD and BTC. Nowhere near alt season yet (needs to break below 50% dominance) but good for trade setups,”

$BTC Dominance and $ALTs
% of $BTC dominance continues to slowly move down over the past 3 days
This is good for alts
I'm in $EOS which continues to make higher highs in USD and BTC
No where near alt season yet (needs to break below 50% dominance) but good for trade setups pic.twitter.com/8ul48aVV4q
— Josh Rager (@Josh_Rager) May 29, 2019

The discussion that followed indicated that this could happen as soon as next month, especially if Bitcoin pulls back sharply as expected. Rager has also recently tweeted about a possible 30 percent correction for BTC, which he notes has happened eight times during the last uptrend. If this happens soon it could dump Bitcoin all the way back to $6,000 which is also where major support lies.
Altcoins Starting to Pump
This would be very good for altcoins, some of which are already starting to take off. EOS has been mentioned above and that would not be a bad choice at the moment considering there is a big event and well hyped mystery announcement approaching at the weekend. The B1 event in Washington on June 1 is likely to induce more fomo for the Ethereum rivaling token which has already pumped 70 percent since the beginning of May.
EOS is still 60 percent down from its all-time high so a sub $10 price would not be considered a bad entry. EOS has ambitions to beat Ethereum and if that reality ever plays out the tokens may never be this low again. Remember, ETH was priced at below $10 in January 2017.
The other altcoin on a flyer today is Bitcoin SV which has doubled in price overnight. This, it turns out, has been a manipulated pump by scammers publishing fake news claiming that Craig Wright had transferred Bitcoin from the so-called Satoshi wallets to prove his identity.
Either way, the altcoins are waking up and when Bitcoin takes a breather some of them are likely to surge much higher than they are today.
Image from Shutterstock
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Source: New feedNewsBTC.com

Cryptocurrency Sentimental Analysis: Bitcoin Positivity Prolongs Altseason

Cryptocurrencies are in a very difficult territory where no fundamental or technical indicators is actually affecting the price than the sentiment of the community. Every news article or a social mention is actually driving the trend and direction of where the prices are heading. Although most of the sentiment is derived from the sentiment of the Bitcoin- the largest cryptocurrency, still some altcoins have their specific pros and cons that change their variance from that of Bitcoin. Let’s look at the few indicators that are used widely across to determine the sentiment.
Bitcoin Sentimental Analysis
As mentioned it’s the largest coin in the market that decides most of the trend for the crypto markets is necessary to understand that sentiment it garners among the community. A lot of news flow and sell off has dampened the short term sentiment but yes there are some long-term positives which make Bitcoin an interesting study. An analysis of its social mention and greed and fear index would give us a clear idea of what is happening

Analysis Type
Tool
Analysis- Score
Sentiment

#BTC – Hashtag Analysis
Keyhole
Score: 87
Positives: 30.3%
Negative: 12.7%
Neutral- 54.0%
Neutral moving to Positives

#BTC- Social Media Mentions
Social Mention
Sentiment 7:1 in favor of positives
With 81 scores towards neutral and 13 in favor of Positives
Positive raising

Fear to Greed Index
Alternative.me
Score 56–Greed
Positive

Fear to Greed Index
CNN Money
Score 49 -Neutral
Neutral

 Bitcoin has stuck over USD 4000 and that is what is keeping the sentiment from neutral to positive. The Greed and Fear Index is also towards greed side signifying there could be further upside to this rally. While the rally may continue, caution too would slowly creep in as the coin moves toward the upside of the range. Still, it looks like bulls may have more fun on the street.
Also Read: Top Trending Crypto News of the Week: The Bitwise Report, Bithumb, and Bitcoin ETF Among Major Newsmakers
Altcoin Sentimental Analysis
Fear and Greed index is only available for BTC as not may altcoins have all components required to calculate it

Altcoin
Keyhole #  analysis
Social Mention
Sentiment

ETH- Ethereum
Score – 82
27.3% Positive
5.7% Negative
67%- Neutral
81 towards Positives
Neutral 12
Neutral moving towards positive

XRP- Ripple
Score 84
31.8% Positive
5.6% Negative
62.6% neutral
3:1 towards Positives
Neutral 78
Neutral to Positive, Positive rising

BCH- Bitcoin Cash
Score 72
30.3 % Positive
11.6% Negative
58.2% Neutral
6:1 towards positives
Neutral 116
Neutral to Positive- Positives sneaking up

EOS
Score 84
32.1% Positive
6.0% Negative
61.9%- Neutral
5:1 towards positives
Neutral 105
Neutral to Positive-
Positives rising

XLM-Stellar
Score 92
44.1% Positive
3.8% Negative
52.2% Neutral
9:1 towards positives
Neutral 62
Neutral to Positive, Positives  rising

All altcoins seem to be falling the Bitcoin sentiment and moving on the positive side. There are some indications that we could see some price rise and Alt season may last a little longer. Unless some major setback is seen in any of the coins, the sluggish in the altcoins could subside in coming days
Will this sentiment actually pull back the prices? Do let us know your views on the same.
The post Cryptocurrency Sentimental Analysis: Bitcoin Positivity Prolongs Altseason appeared first on Coingape.
Source: CoinGape

Altseason is Separating Good Ones From Shitcoins: Expert Opinion

The following article is the rework of the thoughts put forward by Mati Greenspan, Senior Market Analyst at eToro.
Key Highlights:

Shitcoins and garbage ICOs of 2017 are losing their value
Volumes of crypto to crypto exchanges rose by 20% confirming Altseason
Cardano, Ethereum Classic, and IOTA spike

Over the past couple of weeks, there has been some significant movement in the altcoins which is put a question to many, whether are we actually in an AltSeason. There have some peculiar characteristics noticed, where The top cryptos have mostly been stable over the last week but there has been rapid fluctuation among many of the lower cap coins. there have been dozens of altcoins with massive gains and massive losses. Some of the top gainers have seen more than 200% returns and some of the losers are down more than 90%. Most of these coins have never been heard about before. Clearly, the shitcoins are getting separated from the good ones.
While there have been movements among altcoins, CryptoCompare new report gave out another signal that showed we are in an Altseason – the trading volume on crypto-to-crypto exchanges increased in February, outpacing December results, while the trading volume on fiat-to-crypto exchanges remained flat.
Source: Cryptocompare report
The data showed that fiat-to-crypto trading dropped from USD 73 billion in December 2018 to USD 63 billion in both January and February of this year. Meanwhile, crypto-to-crypto trading seemed to be thriving in the last month: having dropped from USD 142 billion in December to USD 131 billion in January, it more than made up for this drop by climbing to USD 157 billion in the shortest month.
While it confirmed the Altseason is currently going on, after some correction yesterday Three coins: Cardano, Ethereum Classic, and IOTA have already managed to shake off that move and are up today.
The post Altseason is Separating Good Ones From Shitcoins: Expert Opinion appeared first on Coingape.
Source: CoinGape