{"id":574908,"date":"2024-02-14T00:00:20","date_gmt":"2024-02-14T00:00:20","guid":{"rendered":"https:\/\/www.uniquehot.com\/?p=574908"},"modified":"2024-06-11T08:11:15","modified_gmt":"2024-06-11T08:11:15","slug":"altcoins-bull-market-incoming-predicts-analyst-heres-why","status":"publish","type":"post","link":"https:\/\/www.uniquehot.com\/news\/altcoins-bull-market-incoming-predicts-analyst-heres-why\/","title":{"rendered":"The Tipping Point: Altcoins Bull Market Incoming, Predicts Analyst – Here\u2019s Why"},"content":{"rendered":"

A renowned crypto analyst on X has recently sparked discussions within the altcoin community by predicting<\/a> an imminent “altcoins bull market.” This anticipation is rooted in observing a notable pattern in the altcoin market cap chart.<\/p>\n

Accumulation Pattern Suggests Bull Market Incoming<\/h2>\n

According to the crypto analyst Mags on X, the market capitalization of cryptocurrencies<\/a>, excluding Bitcoin, has reached a crucial stage in the Wyckoff Accumulation Pattern, hinting at potential upward momentum shortly.<\/p>\n

Related Reading: BREAKING: Bitcoin Price Hits $50,000 \u2013 The Big Question: How Much Higher Can BTC Go?<\/a><\/div>\n

For context, the Wyckoff Accumulation Pattern, named after Richard D. Wyckoff, a pioneering early 20th-century trader, is used to identify the stages of a market bottom when institutional investors accumulate an asset before the start of a new uptrend.<\/p>\n

The Wyckoff Accumulation pattern typically unfolds in five phases (A), designed to highlight how large professional interests prepare an asset to be moved into a substantial markup phase.<\/p>\n

Phase A signals the halt of the previous downtrend, marked by initial demand indicating that the market is ceasing to make lower lows. Phase B is characterized by testing, as institutions absorb supply amid volatile price action, including potential false breakouts.<\/p>\n

Phase C features a key test of the lows through a “Spring” or “Shakeout,” allowing smart money to acquire an asset from retail holders at lower prices. This phase confirms the market’s readiness to advance. Phase D sees the start of the uptrend as demand takes control<\/a>, evidenced by a pattern of higher highs and higher lows.<\/p>\n

Finally, Phase E is the breakout phase, where the market embarks on a new uptrend, rewarding the accumulation efforts of large interests as the price significantly appreciates.<\/p>\n

According to the Mags, the altcoin market cap has entered Phase ‘E’ of this pattern, characterized by a transition from accumulation to a potential price surge.<\/p>\n

\n

The #Altcoin<\/a> Market Cap has broken out of a massive Wyckoff Accumulation Pattern.<\/p>\n

Price is about to enter Phase “E’ which is where Alts will go vertical.<\/p>\n

Altcoin Bull Market Incoming \ud83d\udd25 pic.twitter.com\/m2XeSoqGIm<\/a><\/p>\n

\u2014 Mags (@thescalpingpro) February 12, 2024<\/a><\/p><\/blockquote>\n

Bitcoin vs. Altcoins Market Dominance<\/h2>\n

Furthermore, the Altcoins Season Index, a metric<\/a> provided by Blockchain Center, currently stands at 49, implying a slight preference for Bitcoin in the market. However, the stage is set for altcoins to outshine Bitcoin in the coming months.<\/p>\n

\"Altcoins
Altcoins season index. | Source: Blockchain Center<\/a><\/figcaption><\/figure>\n

Notably, the Blockchain Center posits that an altcoin season is confirmed if 75% of the top 50 altcoins perform better than Bitcoin over 90 days.<\/p>\n

Despite Bitcoin’s recent approach to the $50,000 mark<\/a>, it has not sustained a close above this level, signaling an opportunity for altcoins to capture market interest. Though trailing slightly behind Bitcoin, the total market cap for altcoins hints at a burgeoning competition that could reshape the market landscape.<\/p>\n

However, recent market trends have showcased Bitcoin’s notable performance compared to altcoins, with a more than 15% surge in the past week, leading its price to exceed $50,000 yesterday. Meanwhile, Ethereum<\/a> has seen a 13% increase over the past week, yet it still trades below the $2,700 mark.<\/p>\n

Related Reading: Ethereum ETF: Franklin Templeton Enters The Fray As ETH Rallies<\/a><\/div>\n

BNB and XRP recorded gains of 6.4% and 4.1%, respectively, during the same timeframe. However, Solana<\/a> and Cardano have outperformed these figures, boasting gains exceeding 10%, trailing Bitcoin’s recent surge.<\/p>\n

\"Altcoins
Altcoins market cap chart on Tradingview.com<\/a><\/figcaption><\/figure>\n

Yet, the aggregate market cap of altcoins, positioned just below $900 billion, against Bitcoin’s slightly higher valuation of above $950 billion, underscores a brewing contest for market dominance.<\/p>\n

Featured image from Unsplash, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"

A renowned crypto analyst on X has recently sparked discussions within the altcoin community by predicting an imminent “altcoins bull market.” This anticipation is rooted in observing a notable pattern in the altcoin market cap chart. Accumulation Pattern Suggests Bull Market Incoming According to the crypto analyst Mags on X, the market capitalization of cryptocurrencies, excluding Bitcoin, has reached a crucial stage in the Wyckoff Accumulation Pattern, hinting at potential upward momentum shortly. Related Reading: BREAKING: Bitcoin Price Hits $50,000 \u2013 The Big Question: How Much Higher Can BTC Go? For context, the Wyckoff Accumulation Pattern, named after Richard D. Wyckoff, a pioneering early 20th-century trader, is used to identify the stages of a market bottom when institutional investors accumulate an asset before the start of a new uptrend. The Wyckoff Accumulation pattern typically unfolds in five phases (A), designed to highlight how large professional interests prepare an asset to be moved into a substantial markup phase. Phase A signals the halt of the previous downtrend, marked by initial demand indicating that the market is ceasing to make lower lows. Phase B is characterized by testing, as institutions absorb supply amid volatile price action, including potential false breakouts. Phase C features a key test of the lows through a “Spring” or “Shakeout,” allowing smart money to acquire an asset from retail holders at lower prices. This phase confirms the market’s readiness to advance. Phase D sees the start of the uptrend as demand takes control, evidenced by a pattern of higher highs and higher lows. Finally, Phase E is the breakout phase, where the market embarks on a new uptrend, rewarding the accumulation efforts of large interests as the price significantly appreciates. According to the Mags, the altcoin market cap has entered Phase ‘E’ of this pattern, characterized by a transition from accumulation to a potential price surge. The #Altcoin Market Cap has broken out of a massive Wyckoff Accumulation Pattern. Price is about to enter Phase “E’ which is where Alts will go vertical. Altcoin Bull Market Incoming \ud83d\udd25 pic.twitter.com\/m2XeSoqGIm \u2014 Mags (@thescalpingpro) February 12, 2024 Bitcoin vs. Altcoins Market Dominance Furthermore, the Altcoins Season Index, a metric provided by Blockchain Center, currently stands at 49, implying a slight preference for Bitcoin in the market. However, the stage is set for altcoins to outshine Bitcoin in the coming months. Notably, the Blockchain Center posits that an altcoin season is confirmed if 75% of the top 50 altcoins perform better than Bitcoin over 90 days. Despite Bitcoin’s recent approach to the $50,000 mark, it has not sustained a close above this level, signaling an opportunity for altcoins to capture market interest. Though trailing slightly behind Bitcoin, the total market cap for altcoins hints at a burgeoning competition that could reshape the market landscape. However, recent market trends have showcased Bitcoin’s notable performance compared to altcoins, with a more than 15% surge in the past week, leading its price to exceed $50,000 yesterday. Meanwhile, Ethereum has seen a 13% increase over the past week, yet it still trades below the $2,700 mark. Related Reading: Ethereum ETF: Franklin Templeton Enters The Fray As ETH Rallies BNB and XRP recorded gains of 6.4% and 4.1%, respectively, during the same timeframe. However, Solana and Cardano have outperformed these figures, boasting gains exceeding 10%, trailing Bitcoin’s recent surge. Yet, the aggregate market cap of altcoins, positioned just below $900 billion, against Bitcoin’s slightly higher valuation of above $950 billion, underscores a brewing contest for market dominance. Featured image from Unsplash, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":526928,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[12333,142,428,11427,1119,78790,12332,6664,8323,1946,12837,83626,4531],"class_list":["post-574908","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ada","tag-altcoins","tag-bitcoin","tag-bnb","tag-btc","tag-btcusdt","tag-cardano","tag-crypto","tag-eth","tag-ethereum","tag-sol","tag-solana","tag-xrp"],"acf":[],"yoast_head":"\nThe Tipping Point: Altcoins Bull Market Incoming, Predicts Analyst - Here\u2019s Why<\/title>\n<meta name=\"description\" content=\"A renowned crypto analyst has recently sparked discussions within the altcoin community by predicting an imminent "altcoins bull 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:\/\/www.uniquehot.com\/news\/altcoins-bull-market-incoming-predicts-analyst-heres-why\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Tipping Point: Altcoins Bull Market Incoming, Predicts Analyst - 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Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. 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HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/www.uniquehot.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"The Tipping Point: Altcoins Bull Market Incoming, Predicts Analyst – Here\u2019s Why","url":"http:\/\/www.uniquehot.com\/news\/altcoins-bull-market-incoming-predicts-analyst-heres-why\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/www.uniquehot.com\/news\/altcoins-bull-market-incoming-predicts-analyst-heres-why\/"},"thumbnailUrl":"https:\/\/www.uniquehot.com\/wp-content\/uploads\/2023\/04\/Altcoins.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/www.uniquehot.com\/wp-content\/uploads\/2023\/04\/Altcoins.jpeg?fit=1140%2C815"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Samuel Edyme"}],"creator":["Samuel Edyme"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/www.uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["ada","altcoins","bitcoin","bnb","btc","btcusdt","cardano","crypto","eth","ethereum","sol","solana","xrp"],"dateCreated":"2024-02-14T00:00:20Z","datePublished":"2024-02-14T00:00:20Z","dateModified":"2024-06-11T08:11:15Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"The Tipping Point: Altcoins Bull Market Incoming, Predicts Analyst – Here\\u2019s Why\",\"url\":\"http:\\\/\\\/www.uniquehot.com\\\/news\\\/altcoins-bull-market-incoming-predicts-analyst-heres-why\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/www.uniquehot.com\\\/news\\\/altcoins-bull-market-incoming-predicts-analyst-heres-why\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/www.uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/04\\\/Altcoins.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/www.uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/04\\\/Altcoins.jpeg?fit=1140%2C815\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Samuel Edyme\"}],\"creator\":[\"Samuel Edyme\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/www.uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"ada\",\"altcoins\",\"bitcoin\",\"bnb\",\"btc\",\"btcusdt\",\"cardano\",\"crypto\",\"eth\",\"ethereum\",\"sol\",\"solana\",\"xrp\"],\"dateCreated\":\"2024-02-14T00:00:20Z\",\"datePublished\":\"2024-02-14T00:00:20Z\",\"dateModified\":\"2024-06-11T08:11:15Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/www.uniquehot.com\/wp-content\/uploads\/2023\/04\/Altcoins.jpeg?fit=1140%2C815","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.uniquehot.com\/wp-json\/wp\/v2\/posts\/574908"}],"collection":[{"href":"https:\/\/www.uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.uniquehot.com\/wp-json\/wp\/v2\/users\/580"}],"replies":[{"embeddable":true,"href":"https:\/\/www.uniquehot.com\/wp-json\/wp\/v2\/comments?post=574908"}],"version-history":[{"count":0,"href":"https:\/\/www.uniquehot.com\/wp-json\/wp\/v2\/posts\/574908\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.uniquehot.com\/wp-json\/wp\/v2\/media\/526928"}],"wp:attachment":[{"href":"https:\/\/www.uniquehot.com\/wp-json\/wp\/v2\/media?parent=574908"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.uniquehot.com\/wp-json\/wp\/v2\/categories?post=574908"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.uniquehot.com\/wp-json\/wp\/v2\/tags?post=574908"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}