After a long downtrend that spanned the entirety of 2018, the cryptocurrency market has been increasing throughout 2019. However, the Bitcoin price has increased at a faster rate than most altcoins, delaying the initiation of an “altseason.”
Altseason is a term used to indicate a period in which the majority of altcoins post remarkable increases.
Many people have been speculating on when this possible altseason might begin. If we make a prediction based on the 2015 movement, alts will begin to increase before the end of the year.
Cryptocurrency trader @888velvet outlined the relationship between the Bitcoin price and the altcoin market cap during the 2015 Bitcoin bull run, outlining the point of maximum financial return.
https://twitter.com/888Velvet/status/1191545978786107392
Making a comparison with the current movement, it seems as if we are very close or have already reached this point. Soon after, the acceleration rate should pick up, eventually surpassing that of BTC.
Let’s take a closer look at both movements and compare their similarities.
2015
The altcoin cap marked the end of a downtrend slightly after the BTC price reached a high of $504 on November 2, 2015. After this point, which in the tweet is marked by “The point of maximum financial opportunity”, the altcoin cap increased by a massive 1350% until August of the same year. This completely dwarfed the rate of increase of Bitcoin, which was a measly 104%.
2019
In the current movement, the altcoin cap has possibly marked the end of a downward movement with a low reached on September 24. The Bitcoin price movement, however, has not been identical, since the price has made a lower high instead of a higher high. Afterward, during the increase on October 25, the Bitcoin and altcoin caps went in the same direction, indicating a possible convergence in which price increases in BTC cause the same in alts. If we go by the previous fractal, BTC should reach a higher high, combined with the same for alts, before the rate of acceleration picks up and passes that of BTC.
This is in line with our previous analysis of the possible beginning of altseason.
Disclaimer: This article is not trading advice and should not be construed as such. Always consult a trained financial professional before investing in cryptocurrencies, as the market is particularly volatile.
Did you know you can trade sign-up to trade Bitcoin and many leading altcoins with a multiplier of up to 100x on a safe and secure exchange with the lowest fees — with only an email address? Well, now you do! Click here to get started on StormGain!
Top crypto projects in the US | April 2024
Trusted
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Valdrin Tahiri
Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona School of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto's Senior Analyst.
(I do not have a discord and will not contact you first there. Beware of scammers)
Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona School of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto's Senior Analyst.
(I do not have a discord and will not contact you first there. Beware of scammers)
READ FULL BIO
Sponsored
Sponsored