Bitcoin’s recent push above $10,000 appears to have ignited a full out bull market, with many altcoins clocking massive gains as they begin seeing parabolic gains that are emblematic of those seen in the early stages of the 2017 crypto bull run.
The state of the market is clearly seen while looking towards major altcoins like Tezos, which has been able to post irrational gains without there being any sort of major fundamental or technical catalysts driving the movement.
Furthermore, it does appear that this ongoing “altseason” is still in its early stages, as data shows that most major cryptos just started outperforming Bitcoin earlier this month, meaning that there is significantly further room to rally.
Altseason Kicks Off as Major Cryptos Begin Seeing Parabolic Rallies
Although the bear market seen throughout 2018 and 2019 led many investors to believe that smaller cryptocurrencies would never see any massive momentum, the past couple of weeks have revitalized the sentiment amongst investors.
Bitcoin – which has been firmly guiding the aggregated crypto market – now appears to have established a firm foothold within the lower-five figure price region, and its overt stability at the moment is leading investors to grow more comfortable entering positions within major altcoins.
Currently, virtually all major altcoins are trading up significantly over a 24-hour period, with XRP rallying 8%, while Ethereum has posted a whopping 13% climb.
The current market leader, however, is Tezos, which has rallied 24% today and is showing no signs of slowing down anytime soon.
Big Cheds, a top cryptocurrency analyst on Twitter, spoke about Tezos’s insane rally in a recent tweet, while pointing to a chart that shows the significance of its parabolic uptrend.
“XTZ Tezos Daily – Going nuts, up more than 10% from 3 hours ago,” he explained.
$XTZ Tezos Daily – Going nuts, up more than 10% from 3 hours ago https://t.co/tE8EdBDXSh pic.twitter.com/ZFhNPABecV
— Big Cheds (@BigCheds) February 12, 2020
“Altseason” is Just Getting Started
Although the massive uptrend seen throughout 2020 may lead some crypto investors to believe that they have missed their shot at having a highly profitable entry, it is important to note that altcoins’ firm outperformance of Bitcoin really only started in the past few days.
MoonOverlord, a prominent cryptocurrency analyst on Twitter, elucidated this in a recent tweet, pointing to a graph showing the gains seen by major cryptocurrencies throughout February.
“ALT returns since the start of February. What season is it?”
$ALT returns since the start of February
What season is it? pic.twitter.com/SWra4kNSV9
— moon (@MoonOverlord) February 12, 2020
The coming few weeks should provide insight into whether or not the ongoing bull market is fleeting, or if it will mark the start of a macro uptrend.
Featured image from Shutterstock. origin »
While the larger market seemed to embark on the recovery path with Bitcoin above the $48.5K mark, some altcoins and their double-digit gains over the past week still kept traders on their toes. One suThe post Can Ethereum-based protocol, Aragon sustain over 70% gains in the long run appeared first on AMBCrypto.
Notable cryptocurrency observers claim that the Bitcoin market is still in disbelief at the current price rally. This, for them, is a sign that prices of crypto assets will head a lot higher during this market cycle.
All eyes have been on bitcoin over the weekend as it topped the five figure price level. Ethereum has made even better gains though, posting its longest weekly run in the green since early 2017. Ethereum Bulls Keep Running Over the weekend Ethereum hit a high of $230 according to Tradingview.
Responding to critics, Ripple CEO, Brad Garlinghouse, has drawn attention to XRP’s impressive gains during the first few weeks of this year. Although the platform is clearly having a good run, with a year-to-date increase of almost 50%, its growth may be the product of a larger market recovery.
Today, markets are green, with most of the top 100 posting gains. At the time of writing Bitcoin is up to $8,962 on the daily. Having peaked 4% to just below $9,150 earlier on in the day. Analyst, Mati Greenspan attributes this run of form to US fiscal factors, including the ever-booming stock market.
While Litecoin started 2019 with a massive rally leading up to the asset’s hard-coded halving, the fifth-largest cryptocurrency by market cap later retraced almost the entire rally. It also led the way for a massive altcoin run, just before Bitcoin began to skyrocket and caused the alt market to correct.
The investment of the decade which recorded 9,000,000% gains is currently sitting at just around $7,100. In the short term, Bitcoin is expected to experience a lot of pain ahead that would surely be mixed with its own dose of gains as well.
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.
Cryptocurrency investors have been pushed to move beyond Bitcoin (BTC). With hundreds of altcoins to choose from and several seeing some massive gains thanks to the 2017 bull run, investors have had their pick of the litter when it comes to making speculative investments on what they believe would be the next big thing.
Bitcoin price has been falling steadily for months now back into a deep downtrend, that’s putting the asset at risk of erasing all of the gains from the 2019 parabolic rally, and putting any chance of a new bull run in Bitcoin in jeopardy.
Bitcoin has been caught in the throes of a volatile trading session over the past several weeks, which has resulted in it erasing virtually all of the gains that were incurred during the late-October pump and has opened the gates to potentially further near-term losses.
The first bull run recorded by Bitcoin saw the leading cryptocurrency jumping a whopping 318,864% with BTC at $31. 90 in 2011. Then in the second bull run in 2013, BTC surged to a new high at around $1,175, registering the gains of 58.
Charter Communications (CHTR) has managed to keep up with Apple’s year-to-date performance. Furious buybacks since 2016 have helped keep the stock bullish. Strong upside potential and a parabolic structure are also driving CHTR’s surprising growth.
Last week, the US repo market experienced something akin to a bank run. The median repo repurchase rate of the US Treasuries skyrocketed from 2. 00-2. 25% to 2. 46% on Monday, and a whopping 5. 25% on Tuesday.
The S&P 500 (SPX) is just three months away from closing the book on an incredible decade. While the index has made gains over the last few days, it appears that we are witnessing the beginning of the end.
Friday is turning into the greenest day of the week for most of the crypto market. After successfully holding its gains yesterday, Bitcoin is now continuing its run towards $11,000. The altcoin landscape is even more interesting, with several strong outliers in a fairly green sea.
Twitter (TWTR) is one of those stocks that has been flying under the radar over the last two years. Unlike other tech giants that have been hogging media attention, Twitter has been quietly making gains.
Litecoin is facing death by the cross. Litecoin’s 2019 has taken a sharp U-Turn. Hailed as one of the top gainers among large-cap cryptocurrencies in the market, the fifth largest coin is staring down at an imminent bearish run.
The total crypto market cap corrected lower after a solid run towards $215. 0B. Bitcoin price is currently trading above the $11,500 support after a strong downside correction. Litecoin (LTC) price is now trading below the $95.
Bitcoin (BTC) has managed to extend its gains into the weekend. As of the time of writing this report, the cryptocurrency is trading at $10,850, having flirted with prices a tad higher than $11,000 on Saturday.
Bitcoin has been consolidating for most of the week, range bound between $10. 2k and $9. 6k. The monthly trend is still down but some industry experts foresee renewed action this weekend as fundamentals in the US could play a part.
Drop the anchor. Market dynamics within the cryptocurrency space are quite interesting. However, despite the isolated gains, the pump-and-dumps, and the coming of the ‘altseason,’ when the dust settles, only one coin remains tethered to the larger market, Bitcoin.
If you think you’ve already missed bitcoin’s biggest price gains, think again. The Winklevoss Twins think bitcoin has plenty of room to run and is wildly undervalued at anything less than a $7 trillion market capitalization.
Gold is holding near 6-year highs amid Friday’s non-farm payrolls (NFP) data. The yellow metal looks set to record another week of bullish gains after smashing through previous resistance at $1,360.
Bitcoin has been experiencing some incredibly positive price action over the past few months, but what started out at consistent, steady gains quickly changed into massive volatility after BTC began moving parabolically, which ultimately resulted in the crypto losing its momentum and plummeting from its recent highs.
Since dropping down to $10,300, Bitcoin hasn’t been able to make a strong recovery yet. Though yesterday we went up till $12,450, it didn’t take long for the leading cryptocurrency to drop below $12k.
Bitcoin and the aggregated crypto markets have been incurring major volatility as of late, with BTC surging to fresh 2019 highs yesterday before rapidly plummeting. During this volatility, most major altcoins failed to match Bitcoin’s gains on the way up, but subsequently plummeted lower when BTC failed to maintain its upwards momentum.
In the past few days, cryptocurrency prices have made considerable gains which have led everyone to believe the bull run market has resumed. The pacesetter, bitcoin, have also been seen to have broken the resistance level of $10,000.
The 2019 Bitcoin bull run has been very promising as many people have reaped really juicy returns with the number one coin recording more than 200% year-to-date (YTD) gains and expected to gain higher.
By CCN Markets: With all of the crypto attention currently centered on Facebook’s Libra cryptocurrency, bitcoin could be gearing up for its best run to date. Fundstrat Co-Founder Thomas Lee believes that it is headed much higher in the near future, predicting that a fear-of-missing-out, or FOMO, will catapult the bitcoin price to $40,000 sooner than later.
The weekend brought much fortune for Bitcoin holders as the digital asset hit its year high. Bitcoin crossed the $8,500 mark towards the end of Friday and with it came intention and momentum to see the asset through to $9,000.
Technical Analysis From Fundstrat Global Advisors Shows Most Cryptos Due For Fresh Gains Fundstrat Global Advisors is one of the leading research company in the crypto ecosystems, and certainly one of the most reputable ones.
Bitcoin (BTC) and the aggregated cryptocurrency markets have been able to find some stability after their upwards surge yesterday, which may be a bullish sign that points to the possibility that further gains are imminent in the near-future.
By CCN Markets: Independent research firm Fundstrat Global Advisors has great news for litecoin and bitcoin enthusiasts. Technical analysis carried out by the firm indicates that most of the cryptocurrencies are set to go on a bull run, and investors should start buying them.
By CCN: Many who trade and invest in bitcoin and other cryptocurrencies share the ultimate goal of maximizing gains in the incoming bull cycle. To achieve this end, market participants employ a myriad of tactics including scalping, swing trading, breakout trading, and even day trading.
By CCN: China may have cracked down on cryptocurrency companies, but that’s not stopping the local population from pursuing bitcoin as an investment. Economist and trader Alex Kruger did the research and found that there may be some truth to the theory that China fueled much of the gains in the BTC price last month.
Recent data revealed that every time Bitcoin has seen a pullback of 30 percent or more, it was always followed by a sharp rally. The world’s largest cryptocurrency gains, on average, 153 percent after every price drop, meaning that there will still be plenty of buying opportunities even in the bull market.
Litecoin [LTC] posted massive gains and came out as the biggest winner among altcoins as the week came to an end. The digital coin led the altcoin pack towards another bull run. The latest pump, however, drove the crypto-asset’s price over $100-mark for the second time this year.
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The cryptocurrency market has rebounded following a poor start to the week. Bitcoin, the leading cryptocurrency by market cap, is trading above $93K after surging by 7% since Tuesday. The rally has affected altcoins too, with Pi Network (PI) adding 2% to its value at press time.
