{"id":379228,"date":"2019-04-21T20:00:41","date_gmt":"2019-04-21T20:00:41","guid":{"rendered":"https:\/\/wncen.com\/?p=379228"},"modified":"2024-06-11T07:39:34","modified_gmt":"2024-06-11T07:39:34","slug":"bitcoin-bull-tom-lee-alt-season-crypto-assets","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-bull-tom-lee-alt-season-crypto-assets\/","title":{"rendered":"Bitcoin Bull Tom Lee: Alt-Season May Be Underway, Crypto Assets To See Strong Rally"},"content":{"rendered":"
All eyes may be on Bitcoin (BTC<\/a>), but other crypto assets have seen their fair share of gains since the start of 2019, sparking calls that what is known as “altseason” is right on the horizon. Per one prominent industry analyst, this cyclical industry event, which sees altcoins dramatically outperform the de-facto cryptocurrency lead, may actually be live as we publish this.<\/p>\n Fundstrat’s prominent head of research, Tom Lee, recently took to Twitter to remark that one of the “pre-conditions” for historical altcoin rallies is coming to life in the current cycle. This precursor, for those unaware, is a drop in the correlation between the crypto asset class at large and Bitcoin itself.<\/p>\n Per Lee’s chart, which cites data from Bloomberg, CoinMarketCap, and his own firm, a drop in the rolling 90-day correlation between the two subsets has preceded three altseasons \u2014 Mar 2016, early-2017, and late-2017\/early-2018. An altseason, as defined by Fundstrat, is when a large percentage of altcoins in the “liquid universe” rally by over 200% in a short period of time.<\/p>\n 1\/ Since 2015, one of the \u201cpre-conditions\u201d for the start of alt-season is a drop in the correlation between Alts and $BTC<\/a><\/p>\n This drop in correlation has started recently (lower part of chart and scale is inverted)<\/p>\n This is a data point to suggest alt-season could be underway… pic.twitter.com\/g10Fjzx50q<\/a><\/p>\n — Thomas (Tom) Lee (not drummer) FSInsight.com (@fundstrat) April 20, 2019<\/a><\/p><\/blockquote>\nRelated Reading: 2019 Crypto Alt Season Kicks Off With Over 20 Altcoins Doubling in Value<\/a><\/h6>\n
Historical Precursor To Altseason Is Showing Its Face<\/strong><\/h2>\n
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