The altcoin market (excl. BTC) is setting new All-time-highs 😵 Global 24 hour cryptocurrency trading volume is currently the highest it has EVER been! Altcoin Bull-run officially started?🚀
I was looking at Coinmarketcap at the Bitcoin domination charts and noticed some very interesting facts! We all know crypto is hot right now and Bitcoin was at it's all time high recently. But even though Bitcoin has cooled off for a little bit, did you know that trading volume is actually higher than ever before? And the total market cap of altcoins excluding Bitcoin is about to set a new all-time-high as well! Altcoins are, I believe, officially started on their next bull run!
Look at this chart below:
This is the chart of Bitcoin all the way from 2013 until now. The volume of the latest months is the only one that even shows up, but notice how right now the volume is insanely high! It's almost twice as big as the peaks from a month ago!
Let's zoom in!
This is a closeup of the bullrun of 2017 of the entire crypto market, Bitcoin included. Notice how at the bottom it shows that indeed the volume nowadays is bigger than it has ever been before. Even with Bitcoin dipping, we still seem to be very high!
I've got more interesting news. Let's look at the altcoin markets, excluding Bitcoin. I'm always keeping an eye out to see if the altcoins are ready to boom again, and it looks like we may very well be there!
As you can see, we're about as high as the previous peak during august. The overall Market cap of all crypto's is as high as it's ever been too, even with Bitcoin being significantly down. This means the rest of the money all went into altcoins. And looking from the chart, we are going to set new all time highs for the altcoin market soon!
Of course a fair deal of this altcoin market cap is Bitcoin Cash, but then again BCH was around in August too. So, I'm officially calling it: The altcoin dip is officially over, and altcoins are starting their newest bullrun! Let's see in the coming days/weeks if I'm right!
With trading volume at it's highest it has ever been I can't see the market cooling down anytime soon!
What do you all think?
Well DASH made a new ATH today in dollars, and I think the rest of the major alts will follow suit. Also, there are a lot of new tokens in the market that have added quite a bit of volume to the crypto space.
True, it's different players from time to time, but overall I think it's safe to conclude that the crypto market other than Bitcoin is now out of it's depression phase. Some individual projects may not be quite taking off yet, but to me it shows that big sums of money are moving into crypto's other than Bitcoin and we haven't seen that in a month and a half or so! I'm holding so much altcoins, maybe I am biased, but I really do think we're past the bottom and have started our way up!
Thanks for engaging with me on my posts so frequently by the way, I really appreciate it!
You keep up the quality, I'll keep commenting. ;-)
Thanks! I'll try! :)
I hope you're right. I'm sick of watching my alt-coin positions sink away from me :(
I know what you mean! I have 95% altcoins! But I have been keeping the faith and believing that after Segwit2x it will correct... There was some confusion with the cancellation, but I think the shifting is finally starting to occur. Hold on to your altcoins!
A lot of money came in to benefit from free Segwit2x which didn't happen. So the money stay in crypto and is being distributed to all cryptos + people invest more and more on crypto anyway.
Some say it is called the "altcoin season". This is my first one :)
I am just enjoying all crypto increasing :)
And thanks for the info on the total marketcap, didn't know that.
Altcoin season can be a very exciting time, be sure to strap yourself in! The last time in june-august was quite a ride!!
img credz: pixabay.com
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