Analyst: The “Real” Altcoin Party Begins In Early 2021

Tony "The Bull" Severino

Last Updated: August 24, 2020 8:00 pm

3 mins read

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Thus far, 2020 has been the year of the altcoin, not Bitcoin. Which altcoin is the year’s biggest star may be arguable, but its quite clear that the alternative digital currencies have beat out the first-ever cryptocurrency by a wide margin.

And although altcoins have vastly outperformed Bitcoin so far this year, one pseudonymous crypto analyst claims that the real altcoin party doesn’t start until early next year. Will 2021 be the real year for altcoins to shine?

Altcoins Shine in 2020, Outperform Bitcoin, But Party May Not Begin Until Next Year

All throughout the world of finance, Bitcoin is being looked at as the best performing asset of the year thus far. And in mainstream finance, this is true. Bitcoin has outperformed the stock market, gold, oil, and nearly every other asset on the face of the planet.

However, crypto market insiders know that Bitcoin’s 60% ROI for the year is nothing compared to several other altcoins. For example, Chainlink is up 750% in 2020 in comparison.

The top altcoin, Ethereum, is up 200% year to date, more than tripling Bitcoin’s returns. In fact, Ethereum beats out just about any other investment made with a $1,200 stimulus check, if held through now.

Bitcoin and Altcoin Market Cap Chart Comparison | Source: TradingView

Even the total altcoin market cap as a whole is up well over 125% for the year, led by the seemingly unstoppable DeFi trend. Buying nearly any altcoin on Coinbase in this month would have resulted in a 50% or more return on average.

But even with so much wealth being generated, could the real altcoin party still be a far way off?

Alt Season Outperformance Expected in 2021, Even As BTC Surges To $300,000+

According to one pseudonymous trader analyzing the charts of top altcoins Ethereum and XRP, the altcoin party won’t be starting until “the beginning on next year.”

Three and a half years later, the analyst says, both the number two and three ranked cryptocurrencies are exhibiting a similar flip of resistance into support. This high timeframe resistance should be tested as support in the next few months, according to the analyst’s charts.

Ethereum and XRP Chart Comparison | Source: TradingView

Assets often come back to retest resistance to confirm it as support, before moving higher. This tells market participants that prices won’t be moving lower, and encourages more ferocious buying on the way back up.

This is exactly what the analyst expects to take place towards the end of 2020, causing top altcoin assets to cool off for some time after such a powerful recovery rally.

Once support is confirmed, however, these altcoins are ready and primed to pump, and could see a repeat of 2017-like returns if cryptocurrencies continue to follow Bitcoin’s four-year cycle.

2021 also could act as the next top for crypto, with Bitcoin reaching prices projected to be as high as $325,000 per BTC. If alts are poised to outperform Bitcoin, and the asset is projected to rally to heights like that, owning altcoins could be the fastest track to financial freedom.

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.

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