{"id":436204,"date":"2020-08-25T17:00:09","date_gmt":"2020-08-25T17:00:09","guid":{"rendered":"https:\/\/ktsl888.com\/?p=436204"},"modified":"2020-08-25T15:58:55","modified_gmt":"2020-08-25T15:58:55","slug":"bitcoin-rally-altcoin-season-take-crypto-market-recovery-to-pre-bear-market-levels","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-rally-altcoin-season-take-crypto-market-recovery-to-pre-bear-market-levels\/","title":{"rendered":"Bitcoin Rally, Altcoin Season Take Crypto Market Recovery To Pre-Bear Market Levels"},"content":{"rendered":"<p>The total crypto market capitalization <a href=\"https:\/\/ktsl888.com\/2020\/08\/06\/crypto-market-2020-google-trends-search\/\">is up over 80% year to date<\/a>, adding a staggering $155 billion in just eight months. The major boost from both Bitcoin and altcoins has brought the total market cap to $432 billion \u2013\u00a0 a level that hasn&#8217;t been revisited since April 2018, when the bear market first began.<\/p>\n<p>Is this a sign the bear market is over, and a new bull market in cryptocurrencies is about to begin?<\/p>\n<h2>Total Crypto Market Reaches Pre-Bear Market Milestone<\/h2>\n<p>In late 2017 Bitcoin went on a meteoric rise, and <a href=\"https:\/\/ktsl888.com\/2020\/06\/19\/the-great-ethereum-debate-defi-versus-icos\/\">Ethereum boomed due to the ICO explosion<\/a>. Enormous wealth was generated from the emerging asset class built on hype, speculation, and a new, unheard of (at the time) technology.<\/p>\n<p>Crypto quickly turned into a bubble, rising from under $20 billion to nearly $800 billion in less than one year. The rally made many millionaires and caused widespread FOMO in retail investors hoping to strike it rich.<\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/ktsl888.com\/2020\/08\/21\/analyst-bitcoin-trajectory-ahead-of-schedule-peak-projected-at-325k\/\">Bitcoin Trajectory Ahead of Schedule, Peak Projected At $325K<\/a><\/strong><\/em><\/p>\n<p>The bubble popped and money came pouring back out, causing a drawdown ranging from <a href=\"https:\/\/ktsl888.com\/2019\/09\/03\/peter-brandt-99-of-altcoins-will-be-forgotten-in-five-years\/\">84% to as much as 99% in many altcoins<\/a>. The crypto market cap fell from a peak of $760 billion and plummeted to as low as $90 billion at the crypto bear market bottom.<\/p>\n<p><img data-recalc-dims=\"1\" height=\"860\" width=\"860\" decoding=\"async\" class=\"alignnone size-large wp-image-436249 aligncenter\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/08\/total-crypto-market-cap.png?fit=860%2C860\" alt=\"total crypto market cap\" loading=\"lazy\"><\/p>\n<pre style=\"text-align: center\">Total Cryptocurrency Market Cap (CRYPTOCAP-TOTAL) Area Chart | Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/CRYPTOCAP-TOTAL\/\" rel=\"nofollow\">TradingView<\/a><\/pre>\n<p>The bear market first began starting after the blow-off top in late December and early January but didn&#8217;t really kick into high gear until April 2018. At that point, the crypto market was valued at roughly $432 billion &#8211; the same level it has reached recently following a huge boost from Bitcoin and altcoins.<\/p>\n<h2>2020: The Year of The Great Altcoin Recovery &amp; Bitcoin As a Hedge Against Inflation<\/h2>\n<p>Bitcoin is the best performing mainstream financial asset of 2020 thus far, beating out stocks, gold, oil, and just about anything else. But beyond Bitcoin, the rest of the crypto market has <a href=\"https:\/\/ktsl888.com\/2020\/08\/20\/pseudonymous-crypto-trader-trashes-major-altcoins-tides-have-turned-to-defi\/\">outperformed the highest-ranked crypto by a large margin<\/a>.<\/p>\n<p>Comparing the two charts below \u2013 one depicting the total altcoin market cap, and the BTCUSD daily chart, it is clear that altcoins have been far more bullish than Bitcoin.<\/p>\n<p><img data-recalc-dims=\"1\" height=\"860\" width=\"860\" decoding=\"async\" class=\"alignnone size-large wp-image-436248 aligncenter\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/08\/bitcoin-btcusd-2.png?fit=860%2C860\" alt=\"bitcoin btcusd\" loading=\"lazy\"><\/p>\n<pre style=\"text-align: center\">BTCUSD Area Chart | Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"nofollow\">TradingView<\/a><\/pre>\n<p>Last year, the story was very different, however. The massive Bitcoin pump gone parabolic absorbed nearly all the remaining capital from the altcoin market, prompting an <a href=\"https:\/\/ktsl888.com\/2020\/08\/19\/ascending-trendline-altcoin-apocalypse\/\">altcoin apocalypse<\/a> as crypto analysts were quick to label the chaos.<\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/ktsl888.com\/2020\/08\/24\/analyst-the-real-altcoin-party-begins-in-early-2021\/\">Analyst: The \u201cReal\u201d Altcoin Party Begins In Early 2021<\/a><\/strong><\/em><\/p>\n<p>Negative sentiment surrounding altcoins caused BTC dominance to spike, but the metric weighing Bitcoin against the rest of the market has been on a steady downtrend since.<\/p>\n<p><img data-recalc-dims=\"1\" height=\"860\" width=\"860\" decoding=\"async\" class=\"alignnone size-large wp-image-436246 aligncenter\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/08\/altcoin-market-cap-total-cryptocap.png?fit=860%2C860\" alt=\"altcoin market cap total cryptocap\" loading=\"lazy\"><\/p>\n<pre style=\"text-align: center\">Altcoin Market Cap (CRYPTOCAP-TOTAL2) Area Chart | Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/CRYPTOCAP-TOTAL2\/\" target=\"_blank\" rel=\"nofollow\">TradingView<\/a><\/pre>\n<p>It&#8217;s allowed altcoins to stage a sharp recovery in what crypto analysts refer to as an altcoin season.<\/p>\n<p>As to why altcoins are outperforming Bitcoin, is anyone&#8217;s guess. But they typically have a lot more recovery ahead of them than Bitcoin does to get back to former all-time highs. This fact also means there could be <a href=\"https:\/\/ktsl888.com\/2020\/08\/24\/analyst-the-real-altcoin-party-begins-in-early-2021\/\">a lot more room for altcoins to fly<\/a>, should Bitcoin continue to trend upwards.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The total crypto market capitalization is up over 80% year to date, adding a staggering $155 billion in just eight months. The major boost from both Bitcoin and altcoins has brought the total market cap to $432 billion \u2013\u00a0 a level that hasn&#8217;t been revisited since April 2018, when the bear market first began. Is this a sign the bear market is over, and a new bull market in cryptocurrencies is about to begin? Total Crypto Market Reaches Pre-Bear Market Milestone In late 2017 Bitcoin went on a meteoric rise, and Ethereum boomed due to the ICO explosion. Enormous wealth was generated from the emerging asset class built on hype, speculation, and a new, unheard of (at the time) technology. Crypto quickly turned into a bubble, rising from under $20 billion to nearly $800 billion in less than one year. The rally made many millionaires and caused widespread FOMO in retail investors hoping to strike it rich. Related Reading | Bitcoin Trajectory Ahead of Schedule, Peak Projected At $325K The bubble popped and money came pouring back out, causing a drawdown ranging from 84% to as much as 99% in many altcoins. The crypto market cap fell from a peak of $760 billion and plummeted to as low as $90 billion at the crypto bear market bottom. Total Cryptocurrency Market Cap (CRYPTOCAP-TOTAL) Area Chart | Source: TradingView The bear market first began starting after the blow-off top in late December and early January but didn&#8217;t really kick into high gear until April 2018. At that point, the crypto market was valued at roughly $432 billion &#8211; the same level it has reached recently following a huge boost from Bitcoin and altcoins. 2020: The Year of The Great Altcoin Recovery &amp; Bitcoin As a Hedge Against Inflation Bitcoin is the best performing mainstream financial asset of 2020 thus far, beating out stocks, gold, oil, and just about anything else. But beyond Bitcoin, the rest of the crypto market has outperformed the highest-ranked crypto by a large margin. Comparing the two charts below \u2013 one depicting the total altcoin market cap, and the BTCUSD daily chart, it is clear that altcoins have been far more bullish than Bitcoin. BTCUSD Area Chart | Source: TradingView Last year, the story was very different, however. The massive Bitcoin pump gone parabolic absorbed nearly all the remaining capital from the altcoin market, prompting an altcoin apocalypse as crypto analysts were quick to label the chaos. Related Reading | Analyst: The \u201cReal\u201d Altcoin Party Begins In Early 2021 Negative sentiment surrounding altcoins caused BTC dominance to spike, but the metric weighing Bitcoin against the rest of the market has been on a steady downtrend since. Altcoin Market Cap (CRYPTOCAP-TOTAL2) Area Chart | Source: TradingView It&#8217;s allowed altcoins to stage a sharp recovery in what crypto analysts refer to as an altcoin season. As to why altcoins are outperforming Bitcoin, is anyone&#8217;s guess. But they typically have a lot more recovery ahead of them than Bitcoin does to get back to former all-time highs. This fact also means there could be a lot more room for altcoins to fly, should Bitcoin continue to trend upwards.<\/p>\n","protected":false},"author":517,"featured_media":436212,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3,4],"tags":[134,34800,428,1119,1144,78790,6664,82779,79809,82778,34799,4524,76835],"class_list":["post-436204","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","category-analysis","tag-altcoin","tag-altcoin-market-cap","tag-bitcoin","tag-btc","tag-btcusd","tag-btcusdt","tag-crypto","tag-crypto-market-cap","tag-cryptocap-total","tag-cryptocap-total2","tag-total-market-cap","tag-xbt","tag-xbtusd"],"acf":[],"yoast_head":"\n<title>Bitcoin Rally, Altcoin Season Take Crypto Market Recovery To Pre-Bear Market Levels<\/title>\n<meta name=\"description\" content=\"The total crypto market capitalization is up over 80% year to date, adding a staggering $155 billion in just eight months. 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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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His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \\\"The Bull\\\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. 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