{"id":389447,"date":"2019-07-10T20:00:53","date_gmt":"2019-07-10T20:00:53","guid":{"rendered":"https:\/\/wncen.com\/?p=389447"},"modified":"2019-07-10T15:51:23","modified_gmt":"2019-07-10T15:51:23","slug":"altcoin-capitulation-aobituary-buy-signal","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/altcoin-capitulation-aobituary-buy-signal\/","title":{"rendered":"Crypto Capitulation: An Altcoin Obituary, Or the Biggest Buy Signal Ever?"},"content":{"rendered":"

Since the start of April 2019 when Bitcoin<\/a> rallied over $1,000 in a matter of a few minutes, the first ever crypto asset has taken the market by storm, capturing the attention of all crypto traders, investors, and analysts – but at the expense of the altcoin market.<\/span><\/p>\n

While hope for an \u201calt season<\/a>\u201d has lingered throughout much of 2019, that hope finally turned into panic, as altcoins – the asset class designed in the vein of Bitcoin \u2013 have started to capitulate. But even though most of the crypto community is extremely bearish on the category of coins, typically when there\u2019s \u201cblood in the streets\u201d it\u2019s among the most lucrative buy signals. <\/span><\/p>\n

Bitcoin Continues to Bleed Out Altcoins, When Does the Crypto Carnage End?<\/span><\/h2>\n

Upon reading any internet forum on cryptocurrency or scrolling down a crypto Twitter feed, you\u2019ll be hard pressed to not find anger and despair towards altcoins everywhere you look.<\/span><\/p>\n

Following a parabolic advance by Bitcoin<\/a>, the first ever crypto asset has literally sucked all the value out of the altcoin market, and as BTC pushes higher, trading pairs against Bitcoin have crashed ever further in their ratio.<\/span><\/p>\n

\"\"<\/p>\n

According to CoinMarketCap<\/a> data, the entire top ten cryptocurrencies by market cap have dropped between 5% and 11% across the board. Lower down the market cap rankings 24-hour losses reach as high as 69% in some \u201cshitcoins.\u201d<\/span><\/p>\n

\n

New record on alt\/btc bleed. pic.twitter.com\/et8ENps8IR<\/a><\/p>\n

— Krokz (@krokotar) July 10, 2019<\/a><\/p><\/blockquote>\n