bbc.reporter (OP)
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September 09, 2019, 03:06:33 AM |
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This is a different approach than the usual cryptospace market analysis because it appears to be using the altcap as an index.What I do not like about this is, I assume it includes all the altcoins? This would clearly distort the real situation. I reckon creating an index for altcoins by volume, by market capitalization or by some other way more relevant should be needed. However, good news. The altcoin market will begin a reversal according to the analysis hehehe. The market capitalization of altcoins has been engulfed in a bear market for almost two years. Additionally, while Bitcoin has enjoyed a resurgence in 2019, recouping nearly 50% of the value lost since January 2018, the retracement has been much weaker for altcoins.
The ALTCAP has been in an upward trend since December 2018, increasing by a significant 80%. However, relative to the 2018 high of $560 billion, the current cap of $80 billion marks a loss of 85%. This means that a return to the high would mark an increase of roughly 8x from current levels.
Looking more closely at price movement, we can see a support area at the current level of $77 billion.
Furthermore, looking at a slightly long time-frame reveals even stronger support at $67 billion, which also corresponds with the 0.786 fib level.
The current price is at a very suitable point for the initiation of a reversal, indicating that the upward move that began in December 2018 will continue.Read in full https://beincrypto.com/will-altcoins-ever-see-an-increase-analyzing-the-altcoin-market-cap/
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Tylev
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September 09, 2019, 05:14:38 AM |
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I can already say without these graphs that good altcoins should grow in value soon. Now there is a very high expectation of a rise in the price of bitcoin, investors are investing in bitcoin, so its capitalization has grown incredibly. Whatever happens in the future, however, there will be detente and capital will begin to spill over into altcoins. In another way, this market cannot function.
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||bit
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September 09, 2019, 05:19:41 AM Last edit: February 22, 2022, 02:42:29 PM by ||bit |
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Right now it seems like they will never see an increase but the market doesn't work like that.Nothing falls or rises forever and there will be a change of course at some point.The price of altcoin all the time depend on the price of the bitcoin.When the price of bitcoin reduced the same will be reflected on the altcoin also.Then it will be the best time to inverse your money.
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Doranile432
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September 09, 2019, 05:24:47 AM |
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I don't bother about present altcoin market because one thing is certain and that is altcoins will recover back to its glorious days,nothing stays in a position forever so there will always be a change,sooner or later altcoin season will return,i will keep picking up the pieces for now,taking advantage of the price fall is the best
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Herbert2020
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September 09, 2019, 06:29:03 AM |
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actually the problem is not with what they use, the problem is with trying to analyze something that has no logic behind it because it moves based on manipulation. and obviously when it is based on market capitalization it must be wrong! the fact is, many altcoins are still at a price that is a lot higher than their intrinsic values. that means they are still in bubbles and bubbles first have to burst before the market can even begin the recovery process. on top of that, as i said in another topic the newbie money is not yet in market to help pumper pump the altcoins so we can't expect any kind of "recovery" any time soon.
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Weak hands have been complaining about missing out ever since bitcoin was $1 and never buy the dip. Whales are those who keep buying the dip.
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knuckey
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September 09, 2019, 08:26:11 AM |
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I hope your analysis can happen soon and the market can move up starting a reversal. Because we know that alt has been stuck very long in its downfall and it's time to rise to take profits from long term investment.
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cryptonx
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Futurov
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September 09, 2019, 08:55:04 AM |
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Right now it seems like they will never see an increase but the market doesn't work like that.
Nothing falls or rises forever and there will be a change of course at some point.
you knew the answer, and the charts give us a good view, wich mean now the altcoin marketcap on a strong support zone, and maybe a big bounce on altcoin marketcap will coming my friend
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jazmuzika217
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September 09, 2019, 10:04:59 AM |
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Being dominated by other coin is normal. Like what happened today that bitcoin already dominate the crypto world and altcoin are now dump by the holder and investors. But I think no one can predict and no one knows when and how the altcoin will recover. Always remember that prediction is always prediction. So analized the situation on your self.
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bbc.reporter (OP)
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September 12, 2019, 03:17:35 AM |
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actually the problem is not with what they use, the problem is with trying to analyze something that has no logic behind it because it moves based on manipulation. and obviously when it is based on market capitalization it must be wrong! the fact is, many altcoins are still at a price that is a lot higher than their intrinsic values. that means they are still in bubbles and bubbles first have to burst before the market can even begin the recovery process. on top of that, as i said in another topic the newbie money is not yet in market to help pumper pump the altcoins so we can't expect any kind of "recovery" any time soon. I reckon that websites similar to coinmarketcap.com and tradingview should create proper indexes. They cannot group everything together and expect the charts to be a correct representation of the altcoin market.
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Ozero
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September 12, 2019, 05:10:46 AM |
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Being dominated by other coin is normal. Like what happened today that bitcoin already dominate the crypto world and altcoin are now dump by the holder and investors. But I think no one can predict and no one knows when and how the altcoin will recover. Always remember that prediction is always prediction. So analized the situation on your self.
Over time, the price dominance of Bitcoin will inevitably decrease, as some altcoins will outstrip its development. Most likely, there will be several leaders at once. In any case, their price indicators will not differ much from each other and therefore not one of them will have a pronounced price dominance anymore, as Bitcoin now has. In this regard, the cryptocurrency market will also function and develop in a completely different way. This will be a more mature market.
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bartolo
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September 12, 2019, 04:37:36 PM |
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It's one thing that people see altcoins as one single thing, but making charts showing all altcoins as if they were one single coin and making predictions based on those charts is too much, it's unrealistic. You need to analyze each coin independently.
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aprilnot
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September 12, 2019, 04:48:44 PM |
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if based on the chart, the altcoin market should start to improve now. but try to see the reality ?. has it changed from last month?
I agree if this situation is not for a lifetime, there will definitely be a change. but the question is what is the reason for that to happen. there is currently no good news for altcoin.
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sana54210
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September 12, 2019, 05:25:19 PM |
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Well, I have never really given up on altcoins, and if you see the time they have been down, it is just five years, before I can conclude that an altcoins would never make it again, that would be anything from 5 years, from 5 years, then I can tell of their strength and their ability to know if altcoins are really worth our time or not, but I believe that altcoins will still do something that is a little bit remarkable.
The challenge of altcoins has really been with the scammers that took over the ICO, most of the new projects that would have made ICO market hot by inviting big investors like it did in 2017 end up pushing investors away, and you know that the success of these projects still relies on investors and users of these coin, but I believe that once regulations comes, altcoins will be alive again.
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poornamelessme
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September 12, 2019, 05:29:45 PM |
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actually the problem is not with what they use, the problem is with trying to analyze something that has no logic behind it because it moves based on manipulation. and obviously when it is based on market capitalization it must be wrong! the fact is, many altcoins are still at a price that is a lot higher than their intrinsic values. that means they are still in bubbles and bubbles first have to burst before the market can even begin the recovery process. on top of that, as i said in another topic the newbie money is not yet in market to help pumper pump the altcoins so we can't expect any kind of "recovery" any time soon. Very few cryptos have any 'intrinsic value' and that includes BTC. So not sure we can say many altcoins are a lot higher than their intrinisic value when nobody has any idea what that value is. Also not so sure I'd say many are in a bubble when they've already lost like 80-99% of their value. Unless you feel the entire market, including BTC, is still too high priced. But there is really no way to define what their prices should be when the market is based on speculation or manipulation. I'm also including BTC in the same boat, it's also priced based on speculation/manipulation too.
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FLHippy
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September 12, 2019, 05:36:24 PM |
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And do you believe that altcoin market cappitalization will be bigger in the future than in the past? Because we also have to care that there are much more new cryptocurrencies that participate in this capitalization.
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