Crypto Capitulation: An Altcoin Obituary, Or the Biggest Buy Signal Ever?

Crypto Capitulation: An Altcoin Obituary, Or the Biggest Buy Signal Ever?

Since the start of April 2019 when Bitcoin rallied over $1,000 in a matter of a few minutes, the first ever crypto asset has taken the market by storm, capturing the attention of all crypto traders, investors, and analysts but at the expense of the altcoin market.

While hope for an alt season has lingered throughout much of 2019, that hope finally turned into panic, as altcoins the asset class designed in the vein of Bitcoin have started to capitulate. But even though most of the crypto community is extremely bearish on the category of coins, typically when theres blood in the streets its among the most lucrative buy signals.


Bitcoin Continues to Bleed Out Altcoins, When Does the Crypto Carnage End?

Upon reading any internet forum on cryptocurrency or scrolling down a crypto Twitter feed, youll be hard pressed to not find anger and despair towards altcoins everywhere you look.

Following a parabolic advance by Bitcoin, the first ever crypto asset has literally sucked all the value out of the altcoin market, and as BTC pushes higher, trading pairs against Bitcoin have crashed ever further in their ratio.

According to CoinMarketCap data, the entire top ten cryptocurrencies by market cap have dropped between 5% and 11% across the board. Lower down the market cap rankings 24-hour losses reach as high as 69% in some shitcoins.

The bleeding has even reached a new record, according to one crypto analyst.

This capitulation event has caused many to turn full-blown BTC maximalist, including Youtube influencer Ian Balina.

Others have reacted with much more anger than tact, however, those that are responding to this with a clear head may want to consider buying here or slightly lower as capitulation often is the final ending point before a major rebound. Take Bitcoins rise to $13,800 from $3,200 as a prime example of this.

Related Reading | Crypto Analyst: Bitcoin (BTC) Dominance May Reach 80%, Altcoins Expected to Bleed

When altcoins do eventually bounce, theyll bounce extremely hard and the alt season that everyone has been waiting for will happen faster than anyone could predict. As for when, or if that even occurs remains a mystery, but it could present the biggest financial opportunity for those that take the risk.

Past bear and bull cycles have taught us that each cycle drastically changes the ranking of coins, with many never again reaching their previous highs, while others go on to set new highs and could potentially outperform Bitcoin by a wide margin.

But picking the winners isnt easy, and choosing the wrong coin could result in complete loss. What will you do here? Buy or sell?

The post Crypto Capitulation: An Altcoin Obituary, Or the Biggest Buy Signal Ever? appeared first on NewsBTC.

10.07.2019 / 13:20 34
Bitcoin Price Drops $1,000 or More Right at Logical Failure Point Bitcoin Price Drops $1,000 or More
This week, Bitcoins rally and potential drive upward back into a full-blown bull run and parabolic advance reached a high point of $13,200, before
Crypto Analyst: Bitcoin (BTC) Dominance May Reach 80%, Altcoins Expected to Bleed Crypto Analyst: Bitcoin (BTC) Dominance
The crypto market is at what may be its most important moment yet. Bitcoin is at weekly resistance and its the only thing separating Bitcoin price
Crypto Chaos: Altcoin Capitulation Continues, But Bitcoin Bull Run is Just Beginning Crypto Chaos: Altcoin Capitulation
As Bitcoin price approached $14,000 just mere hours after breaking through $13,000, a violent flash crash occurred that knocked the price of the
Altcoin Trader: Alt Bitcoin Bear Cycle Almost Over, 600% Gains During Bull Cycle Expected Altcoin Trader: Alt Bitcoin Bear Cycle
While Bitcoin has the entire crypto world watching in shock and awe as the seemingly unstoppable rally continues, its crypto cousins in the altcoin
Crypto Conundrum: Bullish Bitcoin Price Action Halts Altcoin Season In Its Tracks Crypto Conundrum: Bullish Bitcoin Price
Overnight last night, Bitcoin price made another strong bullish advance through resistance at $5,400, following a massive crypto rally earlier in the
Altcoin Trader: Alt Market Cap Shows Longest Accumulation Phase Yet Altcoin Trader: Alt Market Cap Shows
Over the last few months, crypto traders and analysts have been ranting and raving about an apparent alt season, that saw the price of many altcoins
Comments (0)
Add a comment
Comment on