2019 Crypto Alt Season Kicks Off With Over 20 Altcoins Doubling in Value

Tony "The Bull" Severino

6 years ago

3 mins read

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Anywhere you turn in the crypto community, be it Reddit, Telegram, Discord, or “Crypto Twitter,” analysts and traders or altcoins everywhere are ranting and raving about the apparent “alt season” that is upon us.

Now that Q1 has come to a close, new data shows just how profitable alt season has been for traders, with over 20 individual coins doubling in value or more since the start of 2019.

Alt Season Proves Profitable for Crypto Investors, Over 20 Altcoins Seeing Double

Ever since Bitcoin fell through support at $6,000 to its current trading range, the market has been going through a bottoming process, where it builds a base of strong, impenetrable support at local lows. Since many altcoins also have bottomed, they too have been building up strong support in anticipation of a move higher.

#Altseason is upon us…

Bitcoin is up nearly 2% today yet BTC dominance is still dropping, now at 50.2%.

What happens if it drops below half? pic.twitter.com/ieYj7BJN2U

— Mati (@MatiGreenspan) March 29, 2019

As these charts bottom out, taking the risk and accumulating altcoins has been paying off handsomely for crypto traders and investors. In fact, since the start of 2019, there are over 20 individual altcoins across the market that have doubled in value. Some have even done nearly an 8x during the quarter.

The insane gains are evidence enough that the crypto market being in an alt season is a very real reality. Some cryptocurrencies have appreciated more in one quarter than traditional assets ever will over the course of a ten year investment, to put things into perspective.

If this is not altseason I don't know what an altseason looks like!

Some top gainers of last months on @binance $ENJ 983%$MDA 868%$EVX 593%$OAX 547%$THETA 408%$HOT 316%$BNB 290%$KNC 261%$APPC 219%$ONT 214%$TRX 206%$VIV 192%$EOS 186%

What are you waiting for?

— Crypto Walker (@cryptoWalk3r) March 27, 2019

Topping the list of gainers percentage-wise, rests PCHAIN, the first “native multi chain system in the world that supports Ethereum Virtual Machine.” PCHAIN investors enjoyed at gain of over 792%, according to data from Messari.

The rest of the list is filled out by a variety of low and mid-cap altcoins, along with recent mover Basic Attention Token, and the seemingly unstoppable Binance Coin, which has nearly done a 200% run since January 1st.

Where Will Alt Season Take Us Next?

Altcoin season can occur during both Bitcoin rallies and declines, however, they most commonly happen during times that Bitcoin trades sideways. The stability seen in Bitcoin gives market participants more confidence in the altcoins market.

Bitcoin itself is at a critical juncture, and is ready to either retest bear market lows, or rally to a new trading range. Depending on what Bitcoin does from here, it could put a damper on alt season if Bitcoin were to go on an independent run.

https://twitter.com/HabichtJonathan/status/1112719260344897537

If Bitcoin were to take off, traders may begin to take profit on their alt holdings and FOMO into Bitcoin during the asset’s liftoff from its bottom formation.

Alternatively, if Bitcoin falls, fear may return to the market and an altcoins selloff could occur. Regardless of what happens next for altcoins, they very much hinge on Bitcoin’s next move.

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.

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.