- When Will The Alt Season Start?
- The first ICO Unicorns have arrived.
- 3 reasons why altcoins could suffer
- Coinmarket cap Altcoins vs Bitcoin
- Cup and handles
- Bitshares (BTS)
- Ripple (XRP)
- Here are a few coins that could be forming cup and handle patterns due to the coming correction phase:
- Ripple (XRP)
- Verge (XVG)
- Is THIS the start of Altcoin Season?
When Will The Alt Season Start?
All markets are moving in cycles and the better we understand them, the better we can make judgements accordingly. Many of you hold altcoins and I know the pain seeing them go down in price everyday.
The first ICO Unicorns have arrived.
I learned a lot from experiencing the big crash in 2014 and was stuck in many shitcoins that had little to no value at all. Today, I try to only invest in projects that have a product or great team/idea that can pull it off.
I have been playing around with shitcoins as well just out of pure speculation and swing trading. I've gladly sold many on the peak but still try to get rid of most of them after realising what the future could look like.
If we look at the Coinmarketcap Altcoins vs Bitcoin market cap, we can see that we're pretty much in the same situation as we were last summer when altcoins peaked both in price and volume. After that, Bitcoin started crushing it and many alts saw a decline up to 90%.
That's a tough spot to be in and I want to avoid getting there.
I'm gonna give you 3 reasons why I think that Altcoins will have a tough time the coming months. Remember, these shakeouts and corrections are needed to reach new highs and I look forward to the next bullrun. Until then, I will try to accumulate as much fiat as I can and pick up cheap coins along the way.
My main strategy right now will be to increase my BTC % and also to buy more by dollar cost averaging.
3 reasons why altcoins could suffer
- Bitcoin will continue it's correction (please check my previous analyses). If Bitcoin drops, altcoins follow.
- If Bitcoin has found the bottom and is on it's way up, altcoins will have a hard time to follow, just like last fall/winter.
- Marketcap is showing signs of Bitcoin gaining dominance again just like last summer and we all know what happened after that.
Coinmarket cap Altcoins vs Bitcoin
We can see that altcoins had a peak in market cap vs Bitcoin in feb and that it's declining as Bitcoin is gaining strength.
Cup and handles
I've analyzed a few popular coins that all show the same patterns.
They all formed cup and handle patterns during the long correction phase and I see similarities looking at todays charts. Cup and handle is a very bullish sign but it's also painful to experience if you're in the middle of it.
Here are a few coins that could be forming cup and handle patterns due to the coming correction phase:
Please let me hear your thoughts on this.
I would gladly talk more about this macro perspective of cryptos since it will form my overall plan.
Follow me on Twitter and turn on notifications to get instant updates at http://www.twitter.com/benkalashnikov
I'm not a financial advisor and these are only my opinions.
Is THIS the start of Altcoin Season?
I don't take any responsibility for any investments that you make based on my analysis.