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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Analyst: Watch Which Altcoins Hold Against Bitcoin For Surprising Springboard Recovery

Tony "The Bull" Severino
Tony "The Bull" Severino
4 years ago
2 mins read
bitcoin altcoins ethereum crypto

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The top two crypto asset by market cap Bitcoin and Ethereum pumping so hard has left the rest of the crypto market in its dust. Even DeFi tokens that had once been hot to trot have plummeted in the wake of this week’s rally.

But one crypto analyst claims its wise to pay close attention right now to how certain altcoins hold up to the rally in majors, as they may be the top-performing assets once the top two titans cool off.

Bitcoin, Ethereum, and XRP Break Out, Crushing Small-Cap Altcoins In Their Wake

Bitcoin and altcoins have an unusual relationship. Occasionally, the assets all rise together in the same tide, while other times they show an inverse relationship.

When major crypto assets all rally together, it can often be disastrous for riskier, smaller-cap, and mid-cap altcoins. That’s exactly what happened this week when Bitcoin, Ethereum, and XRP began soaring.

Bitcoin broke above $10,000 and is trading well above $11,000, and Ethereum rallied by almost 50% in a week.

Related Reading | Analyst: Bitcoin’s 20% Surge Ruptured DeFi Boom, Projects Dive 20% or More

XRP, which has been the crypto market’s worst performer two years running, is primed for a major rally and kicked it off with an over 13% return on the week. It even helped the altcoin regain the third-ranked spot in the top ten crypto assets by market cap from stablecoin Tether.

Together, these top three crypto assets absorbed a substantial amount of capital from the rest of the crypto market, fueling the pump. New money also came in, as investors flocked to hard assets like precious metals and crypto as a hedge against inflation.

While Bitcoin and $ETH enjoy their rallies…

Watch which Altcoins are holding up the best, despite money flowing back to $BTC and Large Caps

Those Altcoins are the ones that will springboard the strongest once money flows back into Mid- and Low-Caps#Bitcoin

— Rekt Capital (@rektcapital) July 31, 2020

Analyst: Altcoins Holding Up During Major Crypto Rally Highlight Most Promising Projects

Which altcoins hold up well against Bitcoin and Ethereum during the next few weeks, especially small-cap altcoins, will be the best performers in the new bull market, according to one crypto analyst.

The analyst claims that any altcoins that show exceptional strength and hold their valuations well while majors rally, will be the most likely assets to “springboard” back when Bitcoin, Ethereum, and XRP cool down.

Related Reading | Crypto Analyst Pitches a Case For XRP to Hit $30 By End of 2021

Any small or mid-cap altcoins holding strong against a massive rally in majors will be due to their holders seeing the true, long-term value in the projects or coins. This typically indicates that there’s real merit in the cryptocurrency, and are the likeliest to rise when the full bull market begins.

For example, Ethereum and XRP were once far less than their current valuations, and the initial Bitcoin boom helped propel these assets into the finance industry limelight.

They’ve since become top contenders of their own. And when they do finally pause their current momentum, the next round of top contenders will begin to stand out from the pack.

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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.

Read more

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

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