Some Altcoin Season facts...
Altcoin Season is around the corner, what should we expect?
Since we have been talking about the impending altcoin rally, perhaps we should get some numbers out there...
Looking back at recent history, we can see there have been 4 major altcoin bear markets and 5 altcoin bull markets.
The reason we have more bulls than bears is because we started with a bull as the trend has been pretty strong basically right out of the gate for this industry.
Ok, so what happens in the altcoin bear markets?
Against bitcoin, the altcoin market has fallen by 69.7% on average.
Remember, this is against bitcoin, in real percentage terms the drop is much greater.
The current altcoin bear market drawdown is 66.5%.
So, we are right around what we have seen historically.
What happens next?
Well, if history is any indicator, we will see a bull market in altcoins return very shortly.
What kind of returns might we expect?
Well, on average, the altcoin bull market returns 617%.
Wowza!
Again, these numbers are against bitcoin.
What does this tell us?
Well, if you are bitcoin bull like me, it tells me one thing...
Instead of selling bitcoin once this recent rally cools off or heaven forbid shorting it...
The better play would be to buy up the large and mid cap altcoins and watch them soar in value.
Bitcoin pulls back 10%, 20%, 30%... Altcoins go up 600%.
What's the better play?
Stay informed my friends.
Image Source:
https://medium.com/@jimmysong/why-bitcoin-is-different-than-other-cryptocurrencies-e16b17d48b94
-Doc
I think these gains are a precursor to a much larger spike in the summer. It's possible that it fizzles out here, but I think there is a much better chance of things getting crazy in the next few months.
There are a lot of bullish things kind of all converging at once here. I didn't expect this move in bitcoin to come this quickly, but it's here and like you just mentioned it may have a ways to go yet.
A lot of fundamental gains were made during the bear market. None of those gains were actually captured by investors. FUD reigned supreme. Now we are seeing a reversal.
Yep, agreed. Plus there is more clarity from regulators (though still not enough) and confidence that the entire industry is not going away, it wasn't just a flash in the pan bubble, it has some legs. Plus the fundamental gains in many of the projects. Not to mention how much easier it is for investors to participate this time around. All those things combined should help during this bull run.
Can’t wait! I’m only in Steem right now.. but most altcoins seem to be great buys right now
Yep, steem has actually been a bit of a laggard the past few months. Though, with some development updates coming recently that may be about to change just in time.
Alt’s are sucking 💨
Sucking value?
I hope that you are right. I am 100% in Altcoins. and around 78% down from my initial investment (December 2017). Lets go to the MOON.
Yikes. I am not sure we get to those highs again on a lot of coins, but I think we will be well off the lows we saw a few months ago. Which helps.
time for 📈
Yep, though I think the real gains will come when bitcoin makes new all time highs and then pulls back.
Buy steem!!!!
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I have been. Did you?
Yes, I did
Nicely done. May see a profit pretty quickly on it here.
Yes, it is time for the alt run!
In the very near future, it's coming.
COMMENCE THE ALT SEASON
Release the alt season!
We're out of beta.
Let's moon, hehe.
Better late than never I guess. :)
The last 24 hours has been interesting as bitcoin dominance has fallen somewhat; I wonder if this is the start or if it is just the setup for the next general rally in prices.
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Not sure, but bitcoin is pulling back right now as well as most of the alts. Bitcoin may need to go higher first before enough new money has come in to really bid up the alts.