{"id":387790,"date":"2019-06-27T20:00:05","date_gmt":"2019-06-27T20:00:05","guid":{"rendered":"https:\/\/uniquehot.com\/?p=387790"},"modified":"2019-06-27T16:55:50","modified_gmt":"2019-06-27T16:55:50","slug":"crypto-altcoin-capitulation-bitcoin-bull","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/crypto-altcoin-capitulation-bitcoin-bull\/","title":{"rendered":"Crypto Chaos: Altcoin Capitulation Continues, But Bitcoin Bull Run is Just Beginning"},"content":{"rendered":"<p class=\"p1\"><span class=\"s1\">As <a href=\"\/tag\/bitcoin-price\" rel=\"nofollow\">Bitcoin price<\/a> approached $14,000 just mere hours after breaking through $13,000, a <a href=\"https:\/\/uniquehot.com\/2019\/06\/26\/bitcoin-drops-2000-in-minutes-crypto-exchanges-struggle-to-run-amid-volatility\/\">violent flash crash occurred<\/a> that knocked the price of the leading crypto asset by market cap down by more than $2,000 in seconds, and with it took out many top crypto exchanges.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">While Bitcoin continues to climb, altcoins are experiencing a <a href=\"https:\/\/uniquehot.com\/2019\/06\/25\/crypto-bitcoin-dominance-altcoins-btc\/\">major capitulation even<\/a>t, reaching lows not seen in years relative to their BTC trading pairs. Now, as even USD values of altcoins start dropping, many are calling for doom for altcoins. However, others believe that Bitcoin profits have started to flow into altcoins at these levels, and soon, they\u2019ll catch up to to BTC in the coming days and finally kick off the alt season analysts have been calling for since the start of 2019.<\/span><\/p>\n<h2 class=\"p1\"><span class=\"s1\">Bitcoin Blasts Off, But The Bull Run is Just Beginning <\/span><\/h2>\n<p class=\"p1\"><span class=\"s1\">In the face of growing fears of an impending economic collapse and increase pressure in the face of the ongoing trade war between the US and China, <a href=\"https:\/\/uniquehot.com\/2019\/06\/06\/gold-skyrockets-as-bitcoin-price-plummets-which-wins-battle-for-economic-hedge\/\">both gold and Bitcoin have skyrocketed in recent days<\/a>, proving their value as an economic hedge.<\/span><\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/uniquehot.com\/2019\/06\/21\/crypto-peter-schiff-gold-bitcoin\/\">Crypto Pundit Peter Schiff Says Gold Is In Early Bull Market, But Bitcoin Is a Sucker\u2019s Rally\u00a0<\/a><\/strong><\/em><\/p>\n<p class=\"p1\"><span class=\"s1\">While some <a href=\"https:\/\/uniquehot.com\/2019\/06\/21\/crypto-peter-schiff-gold-bitcoin\/\">naysayers may be calling Bitcoin\u2019s rise a sucker\u2019s rally<\/a>, most analysts are confident another bull run is about to begin. A chart shared by crypto trader <a href=\"\/tag\/nik-patel\" rel=\"nofollow\">Nik Patel<\/a>, best-selling author of <a href=\"https:\/\/amzn.to\/2XdXz3c\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">An Altcoin Trader\u2019s Handbook<\/a>, shows that once the 360-week and 200-week moving averages crossed, which is days away from occurring, Bitcoin went on nearly a two-year-long bull run that topped out at its all-time high of $20,000. The rally took the world by storm, and caused a massive bubble to grow and eventually pop.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Something something Mark Twain about history<a href=\"https:\/\/twitter.com\/search?q=%24BTCUSD&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$BTCUSD<\/a> <a href=\"https:\/\/t.co\/8pmlMVd1ZN\" rel=\"nofollow\">pic.twitter.com\/8pmlMVd1ZN<\/a><\/p>\n<p>&mdash; Nik (@cointradernik) <a href=\"https:\/\/twitter.com\/cointradernik\/status\/04361473?ref_src=twsrc%5Etfw\" rel=\"nofollow\">June 27, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p class=\"p1\"><span class=\"s1\">The chart and altcoin-focused analyst suggest that Bitcoin is about to embark on its next bull run and uptrend, once the two moving averages cross. The chart also clearly shows the 260-week MA acting as support throughout the entire uptrend, until the parabolic advance eventually broke and the price corrected deeply.<\/span><\/p>\n<h2 class=\"p1\"><span class=\"s1\">Altcoins Capitulate Relative to BTC, and Now USD, Will We Ever See Alt Season Again?<\/span><\/h2>\n<p class=\"p1\"><span class=\"s1\">Bitcoin\u2019s deep price correction eventually ended, which prompted the current rally. However, once Bitcoin price really took off back in April, <a href=\"https:\/\/uniquehot.com\/2019\/06\/26\/bitcoin-dominance-reaches-highest-level-since-december-2017-what-happens-next\/\">altcoins have plummeted to new lows relative to their BTC trading pairs<\/a>, and are currently experiencing a <a href=\"https:\/\/uniquehot.com\/2019\/06\/25\/crypto-bitcoin-dominance-altcoins-btc\/\">major capitulation event<\/a>, as crypto traders dump their bags in exchange for Bitcoin gains.<\/span><\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-387795\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/06\/bitcoin-price-dominance-crypto-altcoin-altcoins-chart.jpeg?resize=800%2C550\" alt=\"\" width=\"800\" height=\"550\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/06\/bitcoin-price-dominance-crypto-altcoin-altcoins-chart.jpeg?w=800 800w, https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/06\/bitcoin-price-dominance-crypto-altcoin-altcoins-chart.jpeg?w=460 460w, https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/06\/bitcoin-price-dominance-crypto-altcoin-altcoins-chart.jpeg?w=768 768w, https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/06\/bitcoin-price-dominance-crypto-altcoin-altcoins-chart.jpeg?w=750 750w\" sizes=\"(max-width: 800px) 100vw, 800px\"><\/p>\n<p class=\"p1\"><span class=\"s1\">Scrolling down CoinMarketCap viewing the price change in BTC value shows an absolute see of red, and it\u2019s been that way throughout most of Bitcoin\u2019s climb. The leading crypto by market cap is sucking up all of the value out of the market, at the expense of just about all altcoins.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\ud83c\udfaf<br \/>And there it is.<br \/>BTC retraces and alts take yet another bigger shit.<br \/>This is the optimum, now we&#39;re finally getting the USD pair capitulation too.<\/p>\n<p>&mdash; DonAlt (@CryptoDonAlt) <a href=\"https:\/\/twitter.com\/CryptoDonAlt\/status\/61015302?ref_src=twsrc%5Etfw\" rel=\"nofollow\">June 27, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p class=\"p1\"><span class=\"s1\">Capitulation really began to set in when <a href=\"https:\/\/uniquehot.com\/2019\/06\/14\/crypto-altcoins-binance-bitcoin-us\/\">Binance announced they\u2019d be blocking US investors<\/a> from their exchange where many exotic altcoins are traded \u2013 signaling that regulation is near. Altcoins don\u2019t have as much regulatory support as Bitcoin, and it\u2019s causing investors to see that Bitcoin is a safer bet.<\/span><\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/uniquehot.com\/2019\/06\/18\/crypto-altcoin-season-bitcoin\/\">Crypto Analyst: Don\u2019t Expect Altcoin Season Until New Bitcoin All-Time High\u00a0<\/a><\/strong><\/em><\/p>\n<p class=\"p1\"><span class=\"s1\">Still, many saw yesterdays powerful crash in Bitcoin coinciding with new lows as a signal to buy altcoins. Some believe that the sold Bitcoin that caused the flash crash was moved into altcoins, and a massive rally is expected. Others say that Bitcoin simply crashed harder in USD value relative to alts, making it appear as though a bounce had occurred.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Wow look at that <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$BTC<\/a> movement<\/p>\n<p>Money going straight back into alts rather than leaving the market is a good sign&#8230;<\/p>\n<p>&mdash; Posty (@PostyXBT) <a href=\"https:\/\/twitter.com\/PostyXBT\/status\/60136961?ref_src=twsrc%5Etfw\" rel=\"nofollow\">June 26, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p class=\"p1\"><span class=\"s1\">Bitcoin dominance broke above 60% in recent days, and is targeting higher. 63.5% dominance may be an important area where altcoins bounce, <a href=\"https:\/\/uniquehot.com\/2019\/06\/26\/bitcoin-dominance-reaches-highest-level-since-december-2017-what-happens-next\/\">according to analysts<\/a>. If they do bounce, alts like <a href=\"https:\/\/uniquehot.com\/2019\/06\/08\/ethereum-ripple-litecoin-crypto-altcoin\/\">Ethereum, Ripple, and Litecoin are expected to skyrocket<\/a> and start a new alt season, while others, like the Binance IEOs that were once pitched as the next golden goose, are likely to be seen as too risky in the face of regulatory uncertainty and bleeding altcoin prices.<\/span><\/p>\n<pre>Featured image from Shutterstock<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>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 leading crypto asset by market cap down by more than $2,000 in seconds, and with it took out many top crypto exchanges. While Bitcoin continues to climb, altcoins are experiencing a major capitulation event, reaching lows not seen in years relative to their BTC trading pairs. Now, as even USD values of altcoins start dropping, many are calling for doom for altcoins. However, others believe that Bitcoin profits have started to flow into altcoins at these levels, and soon, they\u2019ll catch up to to BTC in the coming days and finally kick off the alt season analysts have been calling for since the start of 2019. Bitcoin Blasts Off, But The Bull Run is Just Beginning In the face of growing fears of an impending economic collapse and increase pressure in the face of the ongoing trade war between the US and China, both gold and Bitcoin have skyrocketed in recent days, proving their value as an economic hedge. Related Reading | Crypto Pundit Peter Schiff Says Gold Is In Early Bull Market, But Bitcoin Is a Sucker\u2019s Rally\u00a0 While some naysayers may be calling Bitcoin\u2019s rise a sucker\u2019s rally, most analysts are confident another bull run is about to begin. A chart shared by crypto trader Nik Patel, best-selling author of An Altcoin Trader\u2019s Handbook, shows that once the 360-week and 200-week moving averages crossed, which is days away from occurring, Bitcoin went on nearly a two-year-long bull run that topped out at its all-time high of $20,000. The rally took the world by storm, and caused a massive bubble to grow and eventually pop. Something something Mark Twain about history$BTCUSD pic.twitter.com\/8pmlMVd1ZN &mdash; Nik (@cointradernik) June 27, 2019 The chart and altcoin-focused analyst suggest that Bitcoin is about to embark on its next bull run and uptrend, once the two moving averages cross. The chart also clearly shows the 260-week MA acting as support throughout the entire uptrend, until the parabolic advance eventually broke and the price corrected deeply. Altcoins Capitulate Relative to BTC, and Now USD, Will We Ever See Alt Season Again? Bitcoin\u2019s deep price correction eventually ended, which prompted the current rally. However, once Bitcoin price really took off back in April, altcoins have plummeted to new lows relative to their BTC trading pairs, and are currently experiencing a major capitulation event, as crypto traders dump their bags in exchange for Bitcoin gains. Scrolling down CoinMarketCap viewing the price change in BTC value shows an absolute see of red, and it\u2019s been that way throughout most of Bitcoin\u2019s climb. The leading crypto by market cap is sucking up all of the value out of the market, at the expense of just about all altcoins. \ud83c\udfafAnd there it is.BTC retraces and alts take yet another bigger shit.This is the optimum, now we&#39;re finally getting the USD pair capitulation too. &mdash; DonAlt (@CryptoDonAlt) June 27, 2019 Capitulation really began to set in when Binance announced they\u2019d be blocking US investors from their exchange where many exotic altcoins are traded \u2013 signaling that regulation is near. Altcoins don\u2019t have as much regulatory support as Bitcoin, and it\u2019s causing investors to see that Bitcoin is a safer bet. Related Reading | Crypto Analyst: Don\u2019t Expect Altcoin Season Until New Bitcoin All-Time High\u00a0 Still, many saw yesterdays powerful crash in Bitcoin coinciding with new lows as a signal to buy altcoins. Some believe that the sold Bitcoin that caused the flash crash was moved into altcoins, and a massive rally is expected. Others say that Bitcoin simply crashed harder in USD value relative to alts, making it appear as though a bounce had occurred. Wow look at that $BTC movement Money going straight back into alts rather than leaving the market is a good sign&#8230; &mdash; Posty (@PostyXBT) June 26, 2019 Bitcoin dominance broke above 60% in recent days, and is targeting higher. 63.5% dominance may be an important area where altcoins bounce, according to analysts. If they do bounce, alts like Ethereum, Ripple, and Litecoin are expected to skyrocket and start a new alt season, while others, like the Binance IEOs that were once pitched as the next golden goose, are likely to be seen as too risky in the face of regulatory uncertainty and bleeding altcoin prices. Featured image from Shutterstock<\/p>\n","protected":false},"author":517,"featured_media":387797,"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":[142,428,679,19371,6664],"class_list":["post-387790","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-altcoins","tag-bitcoin","tag-bitcoin-price","tag-capitulation","tag-crypto"],"acf":[],"yoast_head":"\n<title>Crypto Chaos: Altcoin Capitulation Continues, But Bitcoin Bull Run is Just Beginning<\/title>\n<meta name=\"description\" content=\"Crypto markets are diverging. 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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. 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