Bull Market Imminent? Why Investors are Stacking Ethereum, XRP, and Litecoin

Tony "The Bull" Severino

Last Updated: June 8, 2019 12:01 am

2 mins read

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With Bitcoin back into the public eye and mainstream media spotlight, and its price back into the green, speculation that a bull market is starting has begun to spread across the crypto market. The bullish sentiment has also spilled into Bitcoin’s crypto brethren – such as Ethereum, Ripple, Litecoin, and more – and a full-blown altcoin season is expected by most crypto traders.

The price of Ethereum has climbed by 5 percent in the past 24 hours following impressive rally of XRP and Litecoin — The price of Ethereum has climbed by 5 percent in the past 24 hours following the impressive rally of XRP and Litecoin (source: coinmarketcap)

With a potentially profitable “alt season” ahead of us, investors are increasingly taking larger positions in altcoins, selling off their Bitcoin to load their bags. According to a new survey, crypto investors bags are heavily packed with altcoins in particular, which could shed some light into what transpires across the market in the coming weeks.

Poll: Nearly 50% of Crypto Trader’s Portfolio is Dominated by Altcoin Space

With crypto Twitter conversation lit up like the fourth of July talking about the promise of what an alt season can bring investors in the altcoin space for substantial returns, more and more investors are taking larger positions in Bitcoin’s competition.

According to a new poll by crypto analyst DonAlt, crypto investor’s portfolios are at this point comprised almost entirely of altcoins, rather than Bitcoin, which is generally considered the least risky digital asset aside from stablecoins.

How much of your portfolio is in altcoins?

— DonAlt (@CryptoDonAlt) June 6, 2019

The poll results reveal that nearly 50% of all crypto trader’s portfolios are comprised of “60-100%” altcoins. Altcoins are defined as any crypto asset that isn’t the original Bitcoin, including “major cap” alts such as Ethereum, Ripple, Litecoin, and more.

The Big Three: Ethereum, Ripple, and Litecoin Leading Alt Season Charge

It’s major cap altcoins like Ethereum, Ripple, and Litecoin that are driving much of the bullish sentiment in the market.

Crypto charts of interest.
1. $LTCBTC has completed a significant buy signal.
2. New recovery highs in XRP would be constructive with targets of .5688 and .6260. pic.twitter.com/l0GBevSGUk

— Peter Brandt (@PeterLBrandt) June 6, 2019

With Litecoin’s halving coming up, most crypto analysts conclude that taking a position in the asset designed by Charlie Lee is a “no brainer.”

Ripple is yet another large cap altcoin that crypto investors are expecting a surge in performance from. If past performance is an indicator of future performance, Ripple could explode in the coming days.

Ethereum also is poised for a powerful breakout, if Bitcoin can remain on solid footing. Many traders have been bullish on Ethereum for over a month now, but the asset continues to coil ahead of a major breakout.

Further driving the interest in the altcoin space, is the fever surrounding IEO tokens such as Matic, BitTorrent Token, Harmony One, and more. These assets, along with a handful of others that have yet to see a bull market, are expected to vastly outperform Bitcoin.

With crypto trader’s bags fully packed, if an alt season truly does kick off, the crypto market will once again be bringing investors returns beyond their wildest expectations.

Featured image from Shutterstock

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.