Major crypto assets like EOS, Litecoin, and Ethereum are up by around five percent on average, and investors have been quick to call the start to an altseason.
In crypto, an altseason refers to when so-called alternative cryptocurrencies begin to surge in value amidst rising momentum in the market.
Many crypto assets have increased significantly in value over the past two weeks, but considering their steep fall from record highs and their performances in comparison to bitcoin, it is still too early to call it an altseason.
How have major crypto assets performed against bitcoin
Against the USD, large cryptocurrencies like EOS, Litecoin, and Ethereum have rebounded quite strongly since the end of the first week of January.
However, the price charts of the three crypto assets against bitcoin tell a different story.
Since January 2019, Ethereum fell by around 57 percent against bitcoin. Litecoin dropped by 45 percent in the same period against BTC and EOS declined by 47 percent against BTC since the start of last year.
Ethereum, EOS, and Litecoin all dropped substantially against BTC since January 2019 (Source: TradingView)
Normally, an altseason begins after the bitcoin price spikes significantly. Major crypto assets do rise in tandem with BTC in an upside movement, but the real big movements based in historical data occur when BTC demonstrates sideways movement following an extended rally.
The sentiment around the crypto market rises and as BTC stabilizes, investors look for high risk options, confident in the short-term trend of the market.
Currently, it is difficult to say that bitcoin is in a bull market. Technically, because it is down by more than 20 percent from its recent high, it is in a bearish trend.
So, with bitcoin not completing an extended rally and not having stabilized after its recent run, the environment now is not what triggered previous altseasons.
EOS, Litecoin, and Ethereum were largely oversold
While cryptocurrencies including EOS, Litecoin, and Ethereum rallied against the USD over the past week, they were also significantly oversold at the levels they rebounded from.
Ethereum, for instance, was hovering at $200 in November 2019, less than two months ago. Since then, it fell by 40 percent to $115.
Major crypto assets were long overdue to see some relief rally or recovery from low support levels. Whether the recent upside movement of the crypto market is the start to a proper altseason or merely a strong reaction to testing low supports still remains to be seen.
Historical data indicates that it is too early to determine that an altseason is beginning, and with most assets being down so significantly against BTC, it is also difficult to consider whether their recent upsurge was large enough to position the market for a potential rally. The post appeared first on NewsBTC. origin »
With the highly anticipated Bitcoin halving just few hours away, crypto investors are eagerly seeking the next big opportunity to maximize their returns. According to BLADE, a crypto analyst who made over $200,000 during the last altseason, turning a modest $1,000 investment into $100,000 requires understanding market stages and a bit of luck.
The altcoin market appears to be on the cusp of another altseason rally as tokens experience massive price surges while Bitcoin remains locked in sideways accumulation. Altcoin Tokens Surge as DeFi Market Explodes Tweeting on Monday (July 20, 2020), crypto analyst @Crypto_Ed_NL published a chart showing that a new altseason could be on the horizon.
A sharp rally in top crypto performers of the past seven days suggests that altseason has arrived and the sentiment has turned from sell on rallies to buy on dips
Bitcoin’s uptrend throughout the first ten days of 2020 has allowed most major altcoins to put some distance between their current prices and their recent lows. Many of these altcoins have been underperforming BTC, although this may soon change as the aggregated crypto market begins incurring some major momentum.
Investors have long been awaiting another 2017-esque bull run that shakes up the standing of the top cryptocurrencies and possibly leads some smaller altcoins to see meteoric gains that propel them up to the top of the markets.
This weekend has been one of the best in recent history in terms of crypto asset performance. Bitcoin’s epic rally to retouch five figures has given its brethren a boost but there appears to be a pattern emerging.
XRP continues a solid performance throughout October. This comes off the back of weeks of sideways action from Bitcoin. And while it’s too soon to call a start to altseason, XRP is still up 13% since the beginning of October, hovering around the $0.
Упоминание альткоинов в заголовках СМИ упало до рекордно низких значений. Об этом свидетельствуют данные аналитиков The TIE. After surging between June and September to an all-time high, mentions of altcoins and altseason in crypto headlines have quickly crashed to an all-time low.
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.
Most cryptocurrencies other than bitcoin have been languishing in crypto winter for over two years. This is particularly true for alternative coins, or altcoins, in their bitcoin (BTC) pairs. Most have lost over 90 percent of their value from their peak.
Well, that rally was short. Just as traders started to get excited for the 2019 altseason, cruel fate snatched it away again. As Crypto Briefing suggested yesterday, the latest sharp rise may have been nothing more than a temporary short squeeze.
Markets are in a state of flux, with several cryptocurrencies rising by double digits. After several months of dashed hopes, many investors are wondering if today’s gains are the beginning of a long-postponed altseason.
The current state of the altcoin market is woeful, to say the least. The majority of crypto assets are still down over 80% from last year’s all-time highs and most of them are looking to remain there for a while longer.
In 2019, Bitcoin decoupled from the rest of the crypto market, with its dominance rising to 70 percent for the first time since December 2017. Will the trend continue, or will the pioneer cryptocurrency reach an exhaustion point that triggers a renewed “altseason?” Market dominance Bitcoin’s rise to dominate began in December of 2018.
Altseason has been indefinitely postponed, but not everyone’s watching the clock. With threefold price growth for the year, Tezos (XTZ) is one of the few altcoins to keep pace with bitcoin and leave better-funded rivals like EOS in the dust.
Altseason on the Horizon? For some reason or another, crypto analysts have become extremely divided over whether or not there will be a fabled “altseason”. This has presumably been made evidently apparent from Ethereum World.
Many crypto enthusiasts love to hype the ever elusive altcoin season (“altseason“), which has long been hailed as one of the most profitable bitcoin market cycles for active cryptocurrency traders.
Bitcoin is currently retracing from its strong parabolic move over the last few weeks. This may mean that many crypto enthusiasts are anticipating the advent of the altseason (altcoin season). For those who are not familiar, the altseason is one of the most profitable periods in cryptocurrency trading.
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.
The world has been wrapped up with Facebook’s foray into crypto this week but bitcoin is still the undisputed king. Holding a market dominance of over 57%, BTC is rapidly reducing the gap back to its all-time high while most of the altcoins including Ethereum are still attempting to thaw from the crypto winter.
Total crypto market capitalization is back at its 2019 high as Bitcoin maintains gains and grinds slowly higher. There is a lot of resistance approaching, however, and analysts are starting to wonder when the next altseason will start to kick in.
Crypto markets at new yearly high; BSV manipulated, ETH, BCH, IOTA, Cosmos, NEO and NEM flying. Market Wrap More momentum today has driven crypto markets to a new 2019 high. The majors are still holding gains and some are cranking double digits at the moment leading to calls of ‘altseason’ once again.
Crypto Legend Novogratz Expects Bitcoin To Outperform Over the past six weeks, Bitcoin dominance has surged from 53% to 58% (according to TradingView), catching many traders with their pants down.
Bitcoin’s recent series of upwards surges that have led it towards $7,000 have put the final nail in the coffin for the crypto’s bears and have drastically altered the overall market sentiment for the better.
Altcoins May Die When BTC Rallies While there have been a number of calls for an altseason and the death of Bitcoin, BTC has begun to outperform its crypto peers yet again, posting gains when. . .
Altseason Could Continue From Here Over the past week, altcoins (crypto assets other than Bitcoin) have begun to slip. In fact, as of the time of writing this, Bitcoin dominance is sitting at a casual.
Analysts Suggests Altseason Is (Already) Over All eyes may be on Bitcoin (BTC), but other crypto assets have seen their fair share of gains since the start of 2019, sparking calls that what is known.
The Case For A Crypto Asset Rally Fundstrat’s prominent head of research, Tom Lee, recently took to Twitter to remark that one of the “pre-conditions” for historical altcoin rallies is coming to life in the.
All eyes may be on Bitcoin (BTC), but other crypto assets have seen their fair share of gains since the start of 2019, sparking calls that what is known as “altseason” is right on the horizon.
Coinbase Adds Three Crypto Assets Altseason seems to be really on the horizon. Just minutes ago, Coinbase Pro, the professional trader-centric installment of Coinbase, has revealed that it will be adding three crypto assets, EOS.
Recent reports seem to indicate that, believe it or not, Bitcoin (BTC)’s short-term prospects in this market are limited, as crypto analysts await the holy grail of trading sessions — the fabled “altseason.
Although Bitcoin has been struggling to garner any significant buying pressure at its current price levels, the overall crypto markets have been able to post some relatively large gains, and multiple cryptos have surged today.
Crypto Assets To Surge, Claims Trader Galaxy, a self-proclaimed “cryptocurrency accumulation machine,” recently remarked that from his point of view, Bitcoin (BTC) market dominance is going to be in for a tough time.
Crypto Assets To Surge, Claims Trader Galaxy, a self-proclaimed “cryptocurrency accumulation machine,” recently remarked that from his point of view, Bitcoin (BTC) market dominance is going to be in for a tough time.
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