• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency news

Altcoin Season? Crypto Assets Will Surge If They Break Past This Key Level

Nick Chong by Nick Chong
1 year ago
in Cryptocurrency news, Technical analysis
Reading Time: 3min read
crypto bitcoin altseason
Advertisement
Listen to Article

Since early-2018’s market crash, crypto investors have been waiting for altcoins, digital assets that are not Bitcoin (BTC), to surge higher. Unfortunately for these investors, this hasn’t happened yet, with Bitcoin’s dominance rallied from 33% to a high of 71% last year in 18 months’ time, surging on the deaths of altcoin projects.

But, it appears that a new altcoin season, best known as an “altseason” within the cryptocurrency trading community, is right on the horizon.

Related Reading: This Late Night Host Just Exposed Millions to Bitcoin, Again

Crypto Assets May Soon Surge

Over the past few weeks, an interesting trend has developed in the cryptocurrency market: as Bitcoin has rallied by over 30% from the local bottom of $6,800, altcoins have outpaced the market leader, with some crypto assets gaining over 100% in the same time BTC surged to $9,000.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

For instance, Bitcoin Satoshi Vision, on the back of news that self-proclaimed creator of the leading cryptocurrency Craig S. Wright may have access to a large stash of BTC, surged almost 300% higher in a week.

As a result of all this, BTC dominance — the percentage of the cryptocurrency market’s aggregate value made up by the leader — has fallen by 2% to 3% in a short period of time.

But according to Michael Van De Poppe, a trader at the Amsterdam Stock Exchange and noted crypto analyst, altcoins will surge dozens of percent higher if this one key thing happens:

Per his historical analysis of the BTC dominance metric, if this figure manages to fall below 67%, which is possible due to the recent price action and a bearish divergence, there will be dominance collapse to 7%.

$BTC #BITCOIN

Dominance chart. Lower high again made here, probably initiating a top after a bearish divergence already.

Breakdown below 67% and 60% is next target -> initiate altcoin movements.

Similar to January '16, in which the overall rally of $BTC dominance ended. pic.twitter.com/6DW0WwSMJv

— Crypto Michaël (@CryptoMichNL) January 16, 2020

Related Reading: Bitcoin Indicator That Called Rally to $14,000 Flashes Again

Bearish Long-Term Outlook for Alts; Bullish Long-Term Outlook for Bitcoin

Although altcoins may soon see some love in the short term as aforementioned, the long-term outlook for this class of crypto assets seems to be decisively bearish.

Per previous reports from this very outlet, a Reddit user found that by diversifying a $1,000 portfolio into the top 10 crypto assets (Bitcoin, Ethereum, XRP, etc.) at 10% for each coin, his portfolio gained 1.7% in an entire year.

During that same time span, Bitcoin gained 95% in and of itself and traditional asset classes gained dozens of percent and saw near-record gains. The idea here: in the long run, should history repeat itself, BTC is the best long-term crypto-related investment.

Not to mention, analyst Ceteris Paribus recently noted that the launch of the CME’s Bitcoin options could be bearish for altcoins: “If it isn’t obvious, the more we see products like this get offered the more bearish it is for the majority of alts,” they wrote.

If it isn't obvious, the more we see products like this get offered the more bearish it is for the majority of alts. https://t.co/1e7xL1kZK3

— Ceteris Paribus (@ceterispar1bus) January 12, 2020

And, to put a cherry on top of the Bitcoin primacy cake, Adaptive Capital’s Willy Woo found late last year that only the top 40 crypto assets listed by volume on CoinMarketCap offer investors enough liquidity to be considered “good investments.”

Related Reading: Crypto Tidbits: Elon Musk Pokes Bitcoin Bear, Japanese Giants Delve Into Cryptocurrency Mining, Baidu’s Blockchain Beta
Featured Image from Shutterstock
Tags: altcoincryptocryptocurrencymarket
TweetShare20
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for years now. My insights and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

Related Posts

Ethereum

TA: Ethereum Starts Recovery, Why ETH Could Face Resistance Near $1,250

34 mins ago
TA: Bitcoin Nosedives To $28.5K, Why Important Support Turned Resistance

TA: Bitcoin Nosedives To $28.5K, Why Important Support Turned Resistance

2 hours ago
bitcoin altcoins

Altcoin Expert: Buy Crypto That Holds Up During Bitcoin Breakdown

6 hours ago
Analyst: After A 50% Retrace Against Bitcoin, Chainlink Is “Ready” To Soar

Ethereum Maintains Bullish Market Structure Despite Selloff; Rebound Imminent?

8 hours ago
evening star bitcoin

Evening Star: Reversal Pattern Could Sunset Bitcoin Price Action For Weeks

10 hours ago
Bitcoin, cryptocurrency, BTCUSD, BTCUSDT

Bitcoin En Route to $30,000 After Price Falls ~12% in a Day; Here’s Why

16 hours ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Changelly

Changelly

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

Piction Network Announces Partnership with PICA

January 21, 2021

Seascape Network to take DeFi Gaming to the Next Level with the Binance Smart Chain

January 21, 2021

Bit.com To Launch Industry’s First BCH Options

January 20, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Gamble +
  • Play Games
  • BUY BITCOIN

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.