Altseason is likely drawing near...
If history is any indication, the next altcoin season could soon be upon us.
Looking at a chart of the altcoin total marketcap, we can see a bit of a trend emerge...
Specifically, we can see where prices have tended to find resistance and also where they have tended to bottom out.
Drawing some lines, we can see a pretty well defined channel:
(Source: https://twitter.com/TheCryptoHedge/status/1150044366951669760)
Well guess what, we are right at the bottom of that channel right now.
Will that mean that altcoins are due to bounce?
If history is any indicator, it would imply that altcoins are likely to bounce soon.
One thing to take note of is that this has been the longest consolidation period ever between altcoin bull markets as well:
(Source: https://twitter.com/paddystash/status/1150093871050887170)
Whether that is bullish or bearish is anyone's guess.
Either way though, the odds are high that altcoins bounce somewhere around these levels.
Stay informed my friends.
-Doc
That's a good one. Love to see it. It certainly seems overdue after 2 years of misery.
Yes it most certainly does. Hopefully we are seeing those lows now.
I hope so I don't know how long I can wait.
Are you in a rush?
I am pumped up for an Altcoin rally. Been waiting too long and we deserve it.
We will see if Steem climbs back to the top 10. Steem On!
Steem just going up with the rest would be ok with me!
Steem going up to top 30 or 20 it will be just ok. Very well positioned.
What is going to get it there?
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STOPThanks.
Que the music from Jaws.
Dun - dunt
Lol yep!
If this is true, then we are seeing the last bleeding of the alts.📈
👓
Hopefully it's true then!
I believe it was bitcoin's longest bear market as well so alt coins could follow suit as well before a run. I have this gut feeling that the Litecoin halvening could be the catalyst!
It wasn't quite the longest, but it was close.
I still think ltc hits $200 within the next 30 days...
i hope your right
i have been getting killed on alts but i bought long long ago so am not losing hardly at all
also baakt launches and one percent of their 170 trillion will send the market cap more than double
by spring they should have ten percent in so we know where we are going its just the timeline of it happening
have a great day jr
cheers