{"id":377972,"date":"2019-04-10T20:15:18","date_gmt":"2019-04-10T20:15:18","guid":{"rendered":"https:\/\/wncen.com\/?p=377972"},"modified":"2019-04-10T20:15:18","modified_gmt":"2019-04-10T20:15:18","slug":"alt-season-resumes-as-bitcoin-price-continues-upward-climb-toward-6000","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/alt-season-resumes-as-bitcoin-price-continues-upward-climb-toward-6000\/","title":{"rendered":"Alt Season Resumes as Bitcoin Price Continues Upward Climb Toward $6,000"},"content":{"rendered":"<p class=\"p1\"><span class=\"s1\">Crypto bulls have been dominating the price action as of late, with many<a href=\"https:\/\/wncen.com\/2019\/04\/02\/2019-crypto-alt-season-altcoins\/\"> altcoins posting 100% or more gains<\/a> since they reached their bear market bottoms. It\u2019s caused many traders and analysts to agree that an alt season has been upon us.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">However, a <a href=\"https:\/\/wncen.com\/2019\/04\/04\/bitcoin-price-rose-more-in-one-hour-than-last-two-months-combined\/\">massive Bitcoin rally<\/a> halted alt season in its tracks, but it\u2019s since resumed now that <a href=\"\/tag\/bitcoin\" rel=\"nofollow\">Bitcoin<\/a> made it through resistance at $5,350 that had appeared to keep the rest of the market at bay.<\/span><\/p>\n<h2 class=\"p1\"><span class=\"s1\">Altcoins Rebound Following Bitcoin\u2019s Latest Bullish Move<\/span><\/h2>\n<p class=\"p1\"><span class=\"s1\">Bitcoin and the rest of the crypto market have experienced strong gains since the start of 2019, and is showing no signs of slowing. After a recent <a href=\"https:\/\/wncen.com\/2019\/04\/04\/bitcoin-price-rose-more-in-one-hour-than-last-two-months-combined\/\">powerful rally<\/a>, BTC made a quick consolidation pause between $4,800 and $5,200 before continuing on its journey back toward $6,000.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">As Bitcoin price consolidated, altcoins suffered. The <a href=\"https:\/\/wncen.com\/2019\/03\/12\/experienced-altcoin-trader-outlines-expectations-for-bitcoin-and-alt-bull-cycles\/\">correlation between Bitcoin and alts is fickle<\/a> \u2013 occasionally alts fall while Bitcoin climbs, while other times they rally alongside their older crypto brother.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Now that Bitcoin has broken through resistance at $5,350, the alt season that had the crypto space irrationally exuberant once again seems to be getting a second wind.<\/span><\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/wncen.com\/2019\/03\/13\/crypto-comeback-chart-altcoin-season\/\">Crypto Comeback: One Simple Chart Proves Altcoin Season Is Upon Us<\/a><\/strong><\/em><\/p>\n<p class=\"p1\"><span class=\"s1\">Of the top ten cryptocurrencies by market cap, Cardao (ADA) is the clear winner, with an over 7% gain on the day thus far relative to Bitcoin\u2019s 3% gain. EOS is close behind it, with a 4.77% surge. The rest of the top ten experienced between 2 and 3% gains on the low and high end of things, as alts like Ripple, Ethereum, Litecoin, and Stellar all remained relatively stable.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">The price action lower down the list of top cryptocurrencies is where the resurgence of alt season is going strong, with Repo Coin \u2013 a blockchain for repossessing automobiles \u2013 painting a nearly 75% gain on the day. Right above it is Lambda, which is currently enjoying a 50% rally.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Today\u2019s top gainer, according to <a href=\"https:\/\/coinmarketcap.com\/gainers-losers\/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\"><span class=\"s2\">CoinMarketCap<\/span><\/a>, is RealTract, which has more than doubled in value, with over a 165% gain in the last 24 hours. Gains like this are virtually unheard of in traditional markets without leverage.<\/span><\/p>\n<h2 class=\"p1\"><span class=\"s1\">BTC Dominance Continues to Keep Major Alts At Bay<\/span><\/h2>\n<p class=\"p1\"><span class=\"s1\">While Bitcoin was close to breaking below 50% dominance, it has since risen 1% and is showing signs of strength. BTC dominance is regularly used to gauge the health of the altcoin market in comparison with Bitcoin.<\/span><\/p>\n<p>https:\/\/twitter.com\/SwissQuant\/status\/66035713<\/p>\n<p class=\"p1\"><span class=\"s1\">Most traders don\u2019t put much weight in applying technical analysis to Bitcoin dominance charts, but it\u2019s clear that a strong break below 50% would cause altcoins to skyrocket, while <a href=\"\/tag\/bitcoin\" rel=\"nofollow\">Bitcoin<\/a> remains relatively stable. However, if Bitcoin continues its bullish momentum, dominance should only rise, causing altcoins to bleed out their recent value increases as <a href=\"https:\/\/wncen.com\/2019\/03\/12\/experienced-altcoin-trader-outlines-expectations-for-bitcoin-and-alt-bull-cycles\/\">investors take profits back into Bitcoin via altcoin trading pairs<\/a>.<\/span><\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/wncen.com\/2019\/04\/02\/2019-crypto-alt-season-altcoins\/\">2019 Crypto Alt Season Kicks Off With Over 20 Altcoins Doubling in Value\u00a0<\/a><\/strong><\/em><\/p>\n<p class=\"p1\"><span class=\"s1\">If the latest price action in the crypto market is anything to go by, Bitcoin gets the final say over if alt season continues.<\/span><\/p>\n<pre>Featured Image from Shutterstock<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>Crypto bulls have been dominating the price action as of late, with many altcoins posting 100% or more gains since they reached their bear market bottoms. It\u2019s caused many traders and analysts to agree that an alt season has been upon us. However, a massive Bitcoin rally halted alt season in its tracks, but it\u2019s since resumed now that Bitcoin made it through resistance at $5,350 that had appeared to keep the rest of the market at bay. Altcoins Rebound Following Bitcoin\u2019s Latest Bullish Move Bitcoin and the rest of the crypto market have experienced strong gains since the start of 2019, and is showing no signs of slowing. After a recent powerful rally, BTC made a quick consolidation pause between $4,800 and $5,200 before continuing on its journey back toward $6,000. As Bitcoin price consolidated, altcoins suffered. The correlation between Bitcoin and alts is fickle \u2013 occasionally alts fall while Bitcoin climbs, while other times they rally alongside their older crypto brother. Now that Bitcoin has broken through resistance at $5,350, the alt season that had the crypto space irrationally exuberant once again seems to be getting a second wind. Related Reading | Crypto Comeback: One Simple Chart Proves Altcoin Season Is Upon Us Of the top ten cryptocurrencies by market cap, Cardao (ADA) is the clear winner, with an over 7% gain on the day thus far relative to Bitcoin\u2019s 3% gain. EOS is close behind it, with a 4.77% surge. The rest of the top ten experienced between 2 and 3% gains on the low and high end of things, as alts like Ripple, Ethereum, Litecoin, and Stellar all remained relatively stable. The price action lower down the list of top cryptocurrencies is where the resurgence of alt season is going strong, with Repo Coin \u2013 a blockchain for repossessing automobiles \u2013 painting a nearly 75% gain on the day. Right above it is Lambda, which is currently enjoying a 50% rally. Today\u2019s top gainer, according to CoinMarketCap, is RealTract, which has more than doubled in value, with over a 165% gain in the last 24 hours. Gains like this are virtually unheard of in traditional markets without leverage. BTC Dominance Continues to Keep Major Alts At Bay While Bitcoin was close to breaking below 50% dominance, it has since risen 1% and is showing signs of strength. BTC dominance is regularly used to gauge the health of the altcoin market in comparison with Bitcoin. https:\/\/twitter.com\/SwissQuant\/status\/66035713 Most traders don\u2019t put much weight in applying technical analysis to Bitcoin dominance charts, but it\u2019s clear that a strong break below 50% would cause altcoins to skyrocket, while Bitcoin remains relatively stable. However, if Bitcoin continues its bullish momentum, dominance should only rise, causing altcoins to bleed out their recent value increases as investors take profits back into Bitcoin via altcoin trading pairs. Related Reading | 2019 Crypto Alt Season Kicks Off With Over 20 Altcoins Doubling in Value\u00a0 If the latest price action in the crypto market is anything to go by, Bitcoin gets the final say over if alt season continues. Featured Image from Shutterstock<\/p>\n","protected":false},"author":517,"featured_media":371846,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,16896,3,16892,13625,16897,16894,16891],"tags":[30232,142,428,10598,1947,10,3680],"class_list":["post-377972","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-cardano","category-news","category-eos","category-ethereum","category-litecoin","category-ripple","category-stellar-xlm","tag-alt-season","tag-altcoins","tag-bitcoin","tag-eos","tag-etheruem","tag-litecoin","tag-ripple"],"acf":[],"yoast_head":"\n<title>Alt Season Resumes as Bitcoin Price Continues Upward Climb Toward $6,000<\/title>\n<meta name=\"description\" content=\"Crypto bulls have been dominating the price action as of late, with many altcoins posting 100% or more gains since they reached their bear market bottoms.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/alt-season-resumes-as-bitcoin-price-continues-upward-climb-toward-6000\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Alt Season Resumes as Bitcoin Price Continues Upward Climb Toward $6,000\" \/>\n<meta property=\"og:description\" content=\"Crypto bulls have been dominating the price action as of late, with many altcoins posting 100% or more gains since they reached their bear market bottoms.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wncen.com\/news\/alt-season-resumes-as-bitcoin-price-continues-upward-climb-toward-6000\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2019-04-10T20:15:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/02\/crypto-bitcoin-altcoin-season-altcoins-shutterstock_712597321-1100x733.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1100\" \/>\n\t<meta property=\"og:image:height\" content=\"733\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tony &quot;El Toro&quot; 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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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