{"id":390521,"date":"2019-07-21T21:00:53","date_gmt":"2019-07-21T21:00:53","guid":{"rendered":"https:\/\/uniquehot.com\/?p=390521"},"modified":"2024-06-11T13:45:42","modified_gmt":"2024-06-11T13:45:42","slug":"dont-hold-your-breath-bitcoin-to-outperform-altcoins-for-now","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/dont-hold-your-breath-bitcoin-to-outperform-altcoins-for-now\/","title":{"rendered":"Don’t Hold Your Breath, Bitcoin to Outperform Altcoins For Now"},"content":{"rendered":"

Despite the fact that Bitcoin<\/a> is the leading crypto, altcoins \u2014 the blanket term given to cryptocurrencies that aren’t BTC \u2014 were all the rage in late-2017 and early-2018.<\/p>\n

In fact, over the course of the bull run from 2016 to early-2018, Bitcoin dominance fell from over 90% to 33% at the bottom. This so-called “altseason” was catalyzed by a Cambrian explosion in the number and variety of cryptocurrencies, the ICO revolution, and massive growth in older projects like XRP and Ethereum<\/a>.<\/p>\n

Related Reading: Crypto Tidbits: \u201cUnstoppable Force\u201d Bitcoin Back at $10,000, Libra in Congress<\/a><\/h6>\n

With this move, many investors have become accommodated to the idea that when BTC runs, cryptocurrencies should rally even further. But during Bitcoin’s recent move from $3,150 to the local peak of $14,000, altcoins widely underperformed, as made evident by a 10% uptrend in the Bitcoin dominance stat.<\/p>\n

Altseason Unlikely Until Late-2019; Bitcoin to Outperform<\/strong><\/h2>\n

For months now, investors on “Crypto Twitter” have been screaming for an altseason. After all, that’s where many traders made their money in 2017’s mania.<\/p>\n

According to Adaptive Fund’s Willy Woo<\/a>, however, investors shouldn’t be holding their breath for altcoins to outperform. In a recent three-part thread, the popular analyst explains that one of his indicators suggests that an altseason won’t occur until at least the end of 2019, even the start of 2020.<\/p>\n

As he explains, the signal \u2014 a bullish cross of the 365-day moving average of the altcoin market cap against Bitcoin \u2014 is still a ways off from coming to fruition.<\/p>\n

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This is one of my alt-season indicators. A bullish cross of the 365d moving avg of [alt-coin marketcap \/ BTCUSD]. It's crude and imperfect, but easy to pull up on TradingView. Alt-season is not guaranteed, if it happens I can't see it happening till end of 2019 \/ start of 2020. pic.twitter.com\/mOLFhXqky0<\/a><\/p>\n

— Willy Woo (@woonomic) July 19, 2019<\/a><\/p><\/blockquote>\n