{"id":382277,"date":"2019-05-15T00:01:41","date_gmt":"2019-05-15T00:01:41","guid":{"rendered":"https:\/\/uniquehot.com\/?p=382277"},"modified":"2019-05-14T18:37:31","modified_gmt":"2019-05-14T18:37:31","slug":"altcoin-trader-bitcoin-bear-bull","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/altcoin-trader-bitcoin-bear-bull\/","title":{"rendered":"Altcoin Trader: Alt Bitcoin Bear Cycle Almost Over, 600% Gains During Bull Cycle Expected"},"content":{"rendered":"<p>While <a href=\"\/tag\/bitcoin\" rel=\"nofollow\">Bitcoin<\/a> has the entire crypto world watching in <a href=\"https:\/\/uniquehot.com\/2019\/05\/08\/bullish-crypto-community-in-shock-over-recent-bitcoin-price-resilience\/\">shock and awe<\/a> as the seemingly <a href=\"https:\/\/uniquehot.com\/2019\/05\/13\/10000-bitcoin-price-key-level-to-trigger-widespread-public-fomo\/\">unstoppable rally continues<\/a>, its crypto cousins in the altcoin market have only further dropped relative to their BTC ratio.<\/p>\n<p>However, according to previous altcoin\/BTC bear cycles, an end to the carnage may be in sight. And once the bearish momentum eases up, the following uptrend has brought investors over 600% gains once altcoins join Bitcoin in a bull run.<\/p>\n<h2>Altcoin Bear Cycle Coming to a Close as Drawdown Nears Peak<\/h2>\n<p>Due to Bitcoin being paired with altcoins on most exchanges, the two crypto asset types have a closely tied relationship between one another, however, the relationship between altcoins and their big brother Bitcoin is a confusing one. At times, <a href=\"https:\/\/uniquehot.com\/2019\/03\/12\/experienced-altcoin-trader-outlines-expectations-for-bitcoin-and-alt-bull-cycles\/\">they rise and fall in a completely correlated way<\/a>, while other times they appear to grow or decline inverse from one another.<\/p>\n<p>As soon as Bitcoin broke through resistance at $4,200 at the start of April, causing the crypto asset to rally nearly 100% to over $8,300,<a href=\"https:\/\/uniquehot.com\/2019\/04\/25\/bullish-bitcoin-altcoin-carnage-continues\/\"> altcoins diverged<\/a>, and hard. While Bitcoin rose, <a href=\"https:\/\/uniquehot.com\/2019\/04\/25\/bullish-bitcoin-altcoin-carnage-continues\/\">most altcoins fell<\/a> significantly in their ratios relative to BTC.<\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/uniquehot.com\/2019\/03\/12\/experienced-altcoin-trader-outlines-expectations-for-bitcoin-and-alt-bull-cycles\/\">Experienced Altcoin Trader Outlines Expectations For Bitcoin and Alt Bull Cycles<\/a><\/strong><\/em><\/p>\n<p>While Bitcoin has went on to set new yearly highs, altcoins continue to set new yearly lows in their BTC ratios. The total altcoin market cap drawdown has been 66.5% so far, according to experienced altcoin trader <a href=\"\/tag\/nik-patel\" rel=\"nofollow\">Nik Patel<\/a>, who is the author of the book an <em>Altcoin Trader\u2019s Handbook<\/em>.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Couple of fun facts:<\/p>\n<p>&#8211; Of the previous 4 ALTBTC bear cycles, the average drawdown has been 69.7%. The current drawdown of this ALTBTC bear cycle is 66.5%.<\/p>\n<p>&#8211; The average growth experienced across the past 5 ALTBTC bull cycles was 617%.<\/p>\n<p>&mdash; Nik (@cointradernik) <a href=\"https:\/\/twitter.com\/cointradernik\/status\/58971392?ref_src=twsrc%5Etfw\" rel=\"nofollow\">May 14, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The trader says that during the four previous \u201cALTBTC bear cycles,&#8221; all have had an average drawdown of nearly 70% \u2013 a mere 3 and a half percentage points away from current levels. This could indicate that the selling pressure is almost exhausted, and that a new bull cycle could begin.<\/p>\n<p>If and when a bull cycle does come to fruition in the alt market, according to the<a href=\"https:\/\/twitter.com\/cointradernik?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E58971392&amp;ref_url=https%3A%2F%2Funiquehot.com%2Fwp-admin%2Fpost-new.php\" target=\"_blank\" rel=\"noopener noreferrer nofollow\"> altcoin trading professional<\/a>, the average growth experienced has resulted in bringing investors as much as 617% gains. Such gains would bring the price of <a href=\"\/tag\/ethereum\" rel=\"nofollow\">Ethereum<\/a> to over $1,200 and near its previous all-time high, and the price of <a href=\"\/tag\/ripple\" rel=\"nofollow\">Ripple<\/a> to $2.40 cents per XRP. <a href=\"\/tag\/litecoin\" rel=\"nofollow\">Litecoin<\/a> would be priced at well over $500 per LTC.<\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/uniquehot.com\/2019\/04\/18\/altcoin-trader-bitcoin-accumulation-phase\/\">Altcoin Trader: Alt Market Cap Shows Longest Accumulation Phase Yet<\/a><\/strong><\/em><\/p>\n<p>Gains of such nature haven\u2019t been witnessed in the crypto market since the start of 2018. After that, the market crashed and the longest bear market on record ensued. It\u2019s only now that the early stages of a new bull market have started, with the first ever cryptocurrency Bitcoin leading the charge, that such growth in the market has started showing signs of life once again. If altcoins can rally similarly to Bitcoin from here, the crypto bull market will be back, and the price of cryptocurrencies could reach new all-time highs across the board.<\/p>\n<pre>Featured image from Shutterstock<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>While Bitcoin has the entire crypto world watching in shock and awe as the seemingly unstoppable rally continues, its crypto cousins in the altcoin market have only further dropped relative to their BTC ratio. However, according to previous altcoin\/BTC bear cycles, an end to the carnage may be in sight. And once the bearish momentum eases up, the following uptrend has brought investors over 600% gains once altcoins join Bitcoin in a bull run. Altcoin Bear Cycle Coming to a Close as Drawdown Nears Peak Due to Bitcoin being paired with altcoins on most exchanges, the two crypto asset types have a closely tied relationship between one another, however, the relationship between altcoins and their big brother Bitcoin is a confusing one. At times, they rise and fall in a completely correlated way, while other times they appear to grow or decline inverse from one another. As soon as Bitcoin broke through resistance at $4,200 at the start of April, causing the crypto asset to rally nearly 100% to over $8,300, altcoins diverged, and hard. While Bitcoin rose, most altcoins fell significantly in their ratios relative to BTC. Related Reading | Experienced Altcoin Trader Outlines Expectations For Bitcoin and Alt Bull Cycles While Bitcoin has went on to set new yearly highs, altcoins continue to set new yearly lows in their BTC ratios. The total altcoin market cap drawdown has been 66.5% so far, according to experienced altcoin trader Nik Patel, who is the author of the book an Altcoin Trader\u2019s Handbook. Couple of fun facts: &#8211; Of the previous 4 ALTBTC bear cycles, the average drawdown has been 69.7%. The current drawdown of this ALTBTC bear cycle is 66.5%. &#8211; The average growth experienced across the past 5 ALTBTC bull cycles was 617%. &mdash; Nik (@cointradernik) May 14, 2019 The trader says that during the four previous \u201cALTBTC bear cycles,&#8221; all have had an average drawdown of nearly 70% \u2013 a mere 3 and a half percentage points away from current levels. This could indicate that the selling pressure is almost exhausted, and that a new bull cycle could begin. If and when a bull cycle does come to fruition in the alt market, according to the altcoin trading professional, the average growth experienced has resulted in bringing investors as much as 617% gains. Such gains would bring the price of Ethereum to over $1,200 and near its previous all-time high, and the price of Ripple to $2.40 cents per XRP. Litecoin would be priced at well over $500 per LTC. Related Reading | Altcoin Trader: Alt Market Cap Shows Longest Accumulation Phase Yet Gains of such nature haven\u2019t been witnessed in the crypto market since the start of 2018. After that, the market crashed and the longest bear market on record ensued. It\u2019s only now that the early stages of a new bull market have started, with the first ever cryptocurrency Bitcoin leading the charge, that such growth in the market has started showing signs of life once again. If altcoins can rally similarly to Bitcoin from here, the crypto bull market will be back, and the price of cryptocurrencies could reach new all-time highs across the board. Featured image from Shutterstock<\/p>\n","protected":false},"author":517,"featured_media":382290,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3],"tags":[134,142,39648,428,29527],"class_list":["post-382277","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-altcoin","tag-altcoins","tag-bear-cycle","tag-bitcoin","tag-nik-patel"],"acf":[],"yoast_head":"\n<title>Altcoin Trader: Alt Bitcoin Bear Cycle Almost Over, 600% Gains During Bull Cycle Expected<\/title>\n<meta name=\"description\" content=\"While Bitcoin has the entire crypto world watching in shock and awe as the seemingly unstoppable rally continues, its crypto cousins in the altcoin market\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/uniquehot.com\/news\/altcoin-trader-bitcoin-bear-bull\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Altcoin Trader: Alt Bitcoin Bear Cycle Almost Over, 600% Gains During Bull Cycle Expected\" \/>\n<meta property=\"og:description\" content=\"While Bitcoin has the entire crypto world watching in shock and awe as the seemingly unstoppable rally continues, its crypto cousins in the altcoin market\" \/>\n<meta property=\"og:url\" content=\"https:\/\/uniquehot.com\/news\/altcoin-trader-bitcoin-bear-bull\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2019-05-15T00:01:41+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-05-14T18:37:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/05\/altcoin-bitcoin-shutterstock_725694883-e09.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"3000\" \/>\n\t<meta property=\"og:image:height\" content=\"2000\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tony &quot;El Toro&quot; 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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\u2019s 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\u2019s 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. 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