{"id":452890,"date":"2020-12-23T01:00:37","date_gmt":"2020-12-23T01:00:37","guid":{"rendered":"https:\/\/ktsl888.com\/?p=452890"},"modified":"2024-06-11T14:12:14","modified_gmt":"2024-06-11T14:12:14","slug":"altcoin-season-delayed-alt-crypto-market-cap-stuck-in-the-clouds","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/altcoin-season-delayed-alt-crypto-market-cap-stuck-in-the-clouds\/","title":{"rendered":"Altcoin Season Delayed, Alt Crypto Market Cap Stuck In The Clouds"},"content":{"rendered":"<p>Bitcoin is trading a few thousand above its former peak at $20,000, but the spark <a href=\"https:\/\/ktsl888.com\/analysis\/eth\/prelude-to-altcoin-season-ethereum-active-addresses-revisit-defi-summer-highs\/\">of a new altcoin season hasn&#8217;t yet arrived <\/a>in the crypto industry. One reason for the delay of the bullish advance is because the total altcoin market cap has gotten itself stuck in the clouds.<\/p>\n<p>But as soon as the clouds and related turbulence are cleared, there won&#8217;t be any resistance left in the atmosphere preventing the rest of the asset class from catching up with Bitcoin and taking off toward the moon.<\/p>\n<h2>Bitcoin FOMO Returns To Crypto Market, But Top Alts Unaffected Thus Far<\/h2>\n<p>Bitcoin was the first-ever cryptocurrency to be created, and anything that came after the fact <a href=\"https:\/\/ktsl888.com\/news\/litecoin\/charlie-lee-predicts-resurgence-of-litecoin-as-bitcoin-cash-falters\/\">that isn&#8217;t a direct fork of the crypto asset<\/a> is considered an altcoin.<\/p>\n<p><a href=\"https:\/\/ktsl888.com\/analysis\/eth\/ethereum-reaches-crucial-support-level-as-market-wide-selloff-slows\/\">Even Ethereum<\/a> or XRP that command a large share of the overall crypto market cap of their own, are still categorized under the altcoin class.<\/p>\n<p>When Bitcoin first exploded into the mainstream in 2017, the FOMO and related flood of capital pouring into the crypto market in search of the next big thing, resulted in what to this day is referred to as &#8220;<a href=\"https:\/\/ktsl888.com\/lessons\/glossary-common-crypto-terminology\/\">altcoin season<\/a>.&#8221;<\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/ktsl888.com\/analysis\/eth\/prelude-to-altcoin-season-ethereum-active-addresses-revisit-defi-summer-highs\/\">Prelude To Altcoin Season: Ethereum Active Addresses Revisit \u2018DeFi Summer\u2019 Highs<\/a><\/strong><\/em><\/p>\n<p>During this phase, Ethereum ballooned to $1,400, XRP surged to over $3.58 per token, and the rest of the altcoin space performed just as well &#8211; if not better.<\/p>\n<p>With Bitcoin now trading well above its all-time high once again, crypto investing vets have anticipated <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-dominance-in-december-why-the-future-of-altcoins-hinge-on-this-months-close\/\">another altcoin season of similar proportions<\/a>, but it has yet to happen. And that&#8217;s because the total altcoin market cap can&#8217;t get its head out of the clouds.<\/p>\n<p><img data-recalc-dims=\"1\" height=\"860\" width=\"860\" decoding=\"async\" class=\"alignnone size-large wp-image-452901 aligncenter\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/12\/total-2-altcoin-crypto-market-cap-alt-season-cloud.png?fit=860%2C860\" alt=\"total 2 altcoin crypto market cap alt season cloud\" loading=\"lazy\"><\/p>\n<pre style=\"text-align: center\">Altcoins get stuck in the Ichimoku cloud, but a bullish crossover has formed | Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/CRYPTOCAP-TOTAL2\/\" target=\"_blank\" rel=\"noopener nofollow\">CRYPTOCAP-TOTAL2 on TradingView.com<\/a><\/pre>\n<h2>Why Another Altcoin Season Or Bear Market Will Be Decided This Month<\/h2>\n<p>According to the total crypto market cap sans Bitcoin, looking only at t<a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-dominance-in-december-why-the-future-of-altcoins-hinge-on-this-months-close\/\">he remaining over $200 billion in capital<\/a> that altcoins bring to the table, price action on monthly timeframes was rejected at Ichimoku cloud resistance.<\/p>\n<p><a href=\"https:\/\/ktsl888.com\/topic\/ichimoku-cloud\/\">The Ichimoku cloud<\/a>, also called the Kumo, can act as support or resistance, and the size of each cloud indicates how turbulent the price action has been, similar to how Bollinger Bands widen with volatility.<\/p>\n<p>And while running headfirst into cloud resistance isn&#8217;t a great sign for altcoins, thus far, <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-dominance-in-december-why-the-future-of-altcoins-hinge-on-this-months-close\/\">the December monthly candle<\/a> is holding above the bottom support of the cloud. Bitcoin dominance also shows a very important December close, coinciding with the total altcoin cap.<\/p>\n<p>The large November candle pushed altcoins into the cloud, more importantly, triggered a bullish crossover of the indicator&#8217;s baseline and conversion line, also called the Tenkan-Sen and Kijun-Sen.<\/p>\n<p>A bearish crossover is also depicted on the chart above to demonstrate <a href=\"https:\/\/ktsl888.com\/topic\/trend-reversals\/\">the significance of the trend change<\/a> that takes place alongside the crossover if confirmed.<\/p>\n<p>The Ichimoku looks at past, current, and future price action, and the red cloud lasting another year ahead could suggest an extended phase of bearish price action.<\/p>\n<p><img data-recalc-dims=\"1\" height=\"860\" width=\"860\" decoding=\"async\" class=\"alignnone size-large wp-image-452902 aligncenter\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/12\/total-2-altcoin-crypto-market-cap-moon.png?fit=860%2C860\" alt=\"total 2 altcoin crypto market cap moon\" loading=\"lazy\"><\/p>\n<pre style=\"text-align: center\">Here's why crypto investors are salivating over alt season | Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/CRYPTOCAP-TOTAL2\/\" target=\"_blank\" rel=\"noopener nofollow\">CRYPTOCAP-TOTAL2 on TradingView.com<\/a><\/pre>\n<p>However, if the total altcoin market cap can break above the cloud, the chart directly above acts as an example of what a proper altcoin season can bring for investor returns.<\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-dominance-in-december-why-the-future-of-altcoins-hinge-on-this-months-close\/\">Bitcoin Dominance In December: Why The Future Of Altcoins Hinge On This Month\u2019s Close<\/a><\/strong><\/em><\/p>\n<p>With negative sentiment surrounding many of these assets and institutional focus on Bitcoin alone, there&#8217;s no telling if altcoins will ever <a href=\"https:\/\/ktsl888.com\/crypto\/this-bearish-chart-pattern-could-cut-the-crypto-altcoin-market-cap-in-half\/\">revisit their former all-time highs<\/a>.<\/p>\n<p>So before any chance of moon, altcoin holders must wish upon a star that the total crypto market cap sans Bitcoin can finally get above the clouds.<\/p>\n<pre>Featured image from Deposit Photos, Charts from TradingView.com<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin is trading a few thousand above its former peak at $20,000, but the spark of a new altcoin season hasn&#8217;t yet arrived in the crypto industry. One reason for the delay of the bullish advance is because the total altcoin market cap has gotten itself stuck in the clouds. But as soon as the clouds and related turbulence are cleared, there won&#8217;t be any resistance left in the atmosphere preventing the rest of the asset class from catching up with Bitcoin and taking off toward the moon. Bitcoin FOMO Returns To Crypto Market, But Top Alts Unaffected Thus Far Bitcoin was the first-ever cryptocurrency to be created, and anything that came after the fact that isn&#8217;t a direct fork of the crypto asset is considered an altcoin. Even Ethereum or XRP that command a large share of the overall crypto market cap of their own, are still categorized under the altcoin class. When Bitcoin first exploded into the mainstream in 2017, the FOMO and related flood of capital pouring into the crypto market in search of the next big thing, resulted in what to this day is referred to as &#8220;altcoin season.&#8221; Related Reading | Prelude To Altcoin Season: Ethereum Active Addresses Revisit \u2018DeFi Summer\u2019 Highs During this phase, Ethereum ballooned to $1,400, XRP surged to over $3.58 per token, and the rest of the altcoin space performed just as well &#8211; if not better. With Bitcoin now trading well above its all-time high once again, crypto investing vets have anticipated another altcoin season of similar proportions, but it has yet to happen. And that&#8217;s because the total altcoin market cap can&#8217;t get its head out of the clouds. Altcoins get stuck in the Ichimoku cloud, but a bullish crossover has formed | Source: CRYPTOCAP-TOTAL2 on TradingView.com Why Another Altcoin Season Or Bear Market Will Be Decided This Month According to the total crypto market cap sans Bitcoin, looking only at the remaining over $200 billion in capital that altcoins bring to the table, price action on monthly timeframes was rejected at Ichimoku cloud resistance. The Ichimoku cloud, also called the Kumo, can act as support or resistance, and the size of each cloud indicates how turbulent the price action has been, similar to how Bollinger Bands widen with volatility. And while running headfirst into cloud resistance isn&#8217;t a great sign for altcoins, thus far, the December monthly candle is holding above the bottom support of the cloud. Bitcoin dominance also shows a very important December close, coinciding with the total altcoin cap. The large November candle pushed altcoins into the cloud, more importantly, triggered a bullish crossover of the indicator&#8217;s baseline and conversion line, also called the Tenkan-Sen and Kijun-Sen. A bearish crossover is also depicted on the chart above to demonstrate the significance of the trend change that takes place alongside the crossover if confirmed. The Ichimoku looks at past, current, and future price action, and the red cloud lasting another year ahead could suggest an extended phase of bearish price action. Here&#8217;s why crypto investors are salivating over alt season | Source: CRYPTOCAP-TOTAL2 on TradingView.com However, if the total altcoin market cap can break above the cloud, the chart directly above acts as an example of what a proper altcoin season can bring for investor returns. Related Reading | Bitcoin Dominance In December: Why The Future Of Altcoins Hinge On This Month\u2019s Close With negative sentiment surrounding many of these assets and institutional focus on Bitcoin alone, there&#8217;s no telling if altcoins will ever revisit their former all-time highs. So before any chance of moon, altcoin holders must wish upon a star that the total crypto market cap sans Bitcoin can finally get above the clouds. Featured image from Deposit Photos, Charts from TradingView.com<\/p>\n","protected":false},"author":517,"featured_media":452891,"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":[30232,134,34800,142,428,1119,6664,82778,1946,79529,4531],"class_list":["post-452890","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-alt-season","tag-altcoin","tag-altcoin-market-cap","tag-altcoins","tag-bitcoin","tag-btc","tag-crypto","tag-cryptocap-total2","tag-ethereum","tag-ichimoku","tag-xrp"],"acf":[],"yoast_head":"\n<title>Altcoin Season Delayed, Alt Crypto Market Cap Stuck In The Clouds<\/title>\n<meta name=\"description\" content=\"Bitcoin is trading a few thousand above its former peak at $20,000, but the spark of a new altcoin season hasn&#039;t yet arrived in the crypto industry. 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As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market. A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony\u2019s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements. Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. 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. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \\\"The Bull,\\\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. 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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