Altcoin Market Cap Will Continue to Increase, Suggests Analyst

Altcoin Market Cap Will Continue to Increase, Suggests Analyst
фото показано с : beincrypto.com

2019-11-5 03:28

The cryptocurrency market has been increasing since the beginning of 2019. However, this increase has not been equally divided between Bitcoin and altcoins. The Bitcoin price has increased at a faster rate, causing the altcoin market cap dominance to decrease.

However, that has recently begun to change. Numerous altcoins, mostly Chinese based, have posted increased by up to 40%, likely resulting from an endorsement of blockchain technology by the Chinese government.

The altcoin market cap has been showing signs of life and has initiated a gradual upward move. The October 26 decrease looks more like a short-term correction than the beginning of a reversal.

Crypto analyst @paddystash stated that the altcoin market cap dominance has been gradually increasing after the sharp downward move of October 25-26, when Bitcoin enjoyed one of its biggest surges yet.

Altcoin dominance has continued to climb back upwards since the big $Btc spike from $7.4 to over $10k last week. $ETH just jumped from $181 to a high of $188 just a few hours ago. ALts all look ready to move again. Lets see Big alts and Chinese alts blow up and bring the rest up pic.twitter.com/QIIcZvh32D

— Paddy Stash (@paddystash) November 4, 2019

He mentioned Ethereum’s short-term increase and the previous increases generated by Chinese coins.

How long will the altcoin market cap continue to increase? Let’s take a closer look.

Altcoin Dominance

Altcoin dominance has been decreasing since the beginning of 2018 when it was trading near 65%.

The decrease briefly stopped at 30%, and the price has been increasing since.

30% represents a minor support area, while there is a major support area at 23%.

Additionally, the market cap has made three higher lows, in September, October and November respectively, combined with a bullish cross of the 10- and 20-day moving averages (MA).

The price is trading above both, heading for the minor resistance area at 35%.

It looks as if the price will eventually get there and possibly move higher.

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.

Images courtesy of Twitter, TradingView.

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!

The post Altcoin Market Cap Will Continue to Increase, Suggests Analyst appeared first on BeInCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Market.space (MASP) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 MASP

market altcoin increase cap however increased altcoins

market altcoin → Результатов: 126


Фото:

Altseason Narrative Strengthens as Altcoin Market Cap Breaches Multi-Year Resistance Level

The total altcoin market capitalization has crossed $140 billion, possibly signaling the beginning of a new altseason.   Altcoin Market Cap Breaks Resistance According to a tweet by cryptocurrency analyst Rekt Capital on Tuesday (August 11, 2020), the altcoin market has crossed a major resistance level, going above $140 billion for the first time in twoRead MoreRead More.

2020-8-12 01:00


Altcoin Market Bottoms With Highest Buy Volume in Crypto History

Last week the altcoin market exploded, bursting through local downtrend resistance and going on a rally that added over $30 billion in value to the overall crypto market cap sans Bitcoin. The breakout was accompanied by the highest level of buy volume on the total altcoin market cap weekly price chart, which could indicate that... The post appeared first on NewsBTC.

2020-1-21 22:00


Фото:

Altcoin Trading Volume Surprise And Maker Token Analysis: Video

Today Kiana Danial is taking a look at one of the fundamentals of a healthy market. Altcoins have taken an absolute battering, as we all know – but what if the current prices reflect an oversold market? It’s true that fundamentals don’t always correlate directly to short-term prices, but the long-term hodler will be relieved […] The post Altcoin Trading Volume Surprise And Maker Token Analysis: Video appeared first on Crypto Briefing.

2018-11-21 18:14


Cardano, EOS, Stellar Lumens, Monero, Litecoin Price Analysis: Exchanges Ramp Up Altcoin Listings, Hints of Market Confidence

Though EOS, Cardano, Monero, Stellar Lumens and Litecoin price analysis portray positivity, we are yet to see strong gains safe those of early last week. Litecoin news of Gemini listing coupled with Abra’s addition of Cardano (ADA) are bright spots but first Cardano prices must rise above 7 cents nullifying current sells.

2018-9-17 03:02


Фото:

BitPay Unsure On Altcoins But Optimistic On Bitcoin

The ICO market has been otherwise thriving throughout this year with overall number of projects starting and investment capital profited, it has doubled that of last year by the midway point. While Initial Coin Offerings have brought the passion of those in and out of the industry, mainly over empty projects which have to fill the space and sum to nothing other than ‘pump and dump schemes’.

2018-9-14 14:00


Фото:

Bitcoin the Favorite in ‘Winner Takes All Market,’ Says Chief Market Analyst

Cryptocurrency have finally shrugged off naysayer comparisons to the dotcom boom after markets lost more value than the crash of 2000. ‘Very Likely A Winner Takes All Market’ As Bloomberg reported September 12 following another day of declines, especially concentrated in altcoin markets, the MVIS CryptoCompare Digital Assets 10 Index now reads 80 percent lower than at all-time highs around December last year.

2018-9-13 21:00


Фото:

Ethereum Finds Potential Use Case in Hurricane Florence’s Arrival: Automated Insurance Payouts

Ethereum (ETH), the largest altcoin concerning market cap seems to be on a long ride down, as the price of the smart contracts-focused crypto token has slumped considerably in the past few weeks. However, this has not deterred enthusiasts from exploring new horizons, as according to a report on Forbes, dated September 11, 2018, Ethereum’s blockchain could play a pivotal...The post %%POSTLINK%% appeared first on %%BLOGLINK%%.

2018-9-14 20:00


Bitcoin [BTC] Price Holds Value Amid Market Bloodbath

Yesterday was a bloodbath for altcoin prices with many recording double-digit losses. Bitcoin managed to hold its value and has been trading around $6300 to $6400 over the past few days. There was a brief drop down close to $6100, but the price quickly rose back up showing investors were not yet willing to accept […] Bitcoin [BTC] Price Holds Value Amid Market Bloodbath was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

2018-9-13 16:17


EOS, Litecoin, IOTA, Stellar Lumens, Tron Technical Analysis: Altcoin Sellers Struggling to Reverse Last Week’s Gains

Days after the Chinese CCID said EOS top the charts on matters technology, applicability and innovation, the Chinese government went ahead and outlawed cryptocurrencies and related business. This caught the market off guard and though there are no wild price swings, we might see lower lows today as investors try to digest on how this.

2018-8-23 03:02