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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Next Week Could Be Most Critical Week for Crypto Yet

Tony "The Bull" Severino
Tony "The Bull" Severino
5 years ago
3 mins read
crypto market bitcoin altcoins future

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Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
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Every moment in the highly volatile crypto market is an intense one. Prices can skyrocket, then evaporate completely just as fast.

But the week ahead, according to one crypto analyst, may be the most critical week for the crypto market – altcoins and Bitcoin included – ever, and depending on what happens next, will shape the future of the entire industry.

Crypto Market at a Do or Die Crossroads

2019 has been a strange year for the crypto market. After the 2017 bull run ended, it ended with a massive bubble pop that led to a long, arduous bear market, that saw as much as 99% of some crypto assets eliminated in short order.

Related Reading | Will Next Gen Altcoins Boom During Next Crypto Bull Run?

Even Bitcoin plummeted over 80% before it reached its bear market bottom in December 2018 at roughly $3,100. After Bitcoin and other crypto-assets rebounded from what most believed to be the bottom, altcoins and Bitcoin began to rally.

But at some point, Bitcoin and altcoins diverged and Bitcoin went on set new 2019 highs and almost retested its previous all-time high. Meanwhile, altcoins collapsed and many went on to set new lows, suggesting that the bear market isn’t actually over.

I'm taking some time off CT to cut the noise, focus and re-evaluate. If everything goes to plan we'll see an #Altseason in october, but most important is $BTC's next move by the end of this week!

👉 This week will be the most important week for the future of #Crypto!

Good luck! https://t.co/XQ1xKUDR5d

— MAXi. (@888Velvet) September 25, 2019

Now with Bitcoin price also collapsing, the crypto market is at a critical junction. One crypto analyst suggests that not only will the next week be important for Bitcoin and the overall crypto market, but it may also be “the most important week for the future” of the entire cryptocurrency market and industry.

The analyst bases the idea off a chart depicting the total altcoin market cap, and the current crash pausing at the 0.78 Fibonacci retracement level. The analyst concludes that if “everything goes to plan” and the altcoin market bounces at this level, we’ll see a proper alt season in October.

But a lot of that depends on what Bitcoin does next. Bitcoin and altcoins have a unique relationship where at times they’re correlated while other times they’re not. But even if Bitcoin tanks further, altcoins may still be able to bounce. Most altcoins are still at lows relative to their BTC trading pairs, and could rebound strongly relative to their ratio against Bitcoin.

Related Reading | XRP Breaks Below Bear Market Bottom, Will The Rest of Crypto Follow?

However, Bitcoin collapsing could cause so much fear and uncertainty in the market, that altcoins fall even further than the new bear market lows many of them are already setting over the past week or so as Bitcoin began to break down from its multi-month trading range. The crypto market fear and greed index is still above recent lows, so there is still hope in the market left for a rebound.

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Tony "The Bull" Severino
Tony "The Bull" Severino

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

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Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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