{"id":392944,"date":"2019-08-13T18:00:19","date_gmt":"2019-08-13T18:00:19","guid":{"rendered":"https:\/\/wncen.com\/?p=392944"},"modified":"2019-08-13T17:23:05","modified_gmt":"2019-08-13T17:23:05","slug":"crypto-investors-believe-altcoin-market","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/crypto-investors-believe-altcoin-market\/","title":{"rendered":"Crypto Investors Believe There\u2019s More Pain Ahead For the Altcoin Market"},"content":{"rendered":"<p class=\"p1\"><span class=\"s1\"><a href=\"\/tag\/bitcoin\" rel=\"nofollow\">Bitcoin<\/a> has had near non stop bullish momentum throughout 2019, but the altcoin market hasn\u2019t been near as fortunate \u2013 <a href=\"https:\/\/wncen.com\/2019\/08\/12\/altcoin-apocalypse-crypto-bitcoin\/\">sans a couple of outliers<\/a>. The sentiment surrounding altcoins is in the gutter, and prices of even top altcoins have continued to drop in USD value and even more so in their BTC ratios. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Even with all the negativity in the altcoin market, the vast majority of crypto investors expect there to be \u201cmore pain\u201d ahead for altcoins like <a href=\"\/tag\/ethereum\" rel=\"nofollow\">Ethereum<\/a>, <a href=\"\/tag\/ripple\" rel=\"nofollow\">Ripple<\/a>, and <a href=\"\/tag\/litecoin\" rel=\"nofollow\">Litecoin<\/a>.<\/span><\/p>\n<h2 class=\"p1\"><span class=\"s1\">Crypto Investors Expect Max Pain for Altcoin Market<\/span><\/h2>\n<p class=\"p1\"><span class=\"s1\">Any crypto investor that bought altcoins during the height of the 2017 hype bubble or during the one or two week alt season in early January 2018 \u2013 before the bear market really kicked into high gear \u2013 are carrying very heavy bags at this point \u2013 down in many cases over 90% from prices traded back then, and without a <a href=\"https:\/\/wncen.com\/2019\/07\/24\/altcoins-may-never-again-reach-all-time-high-even-if-bitcoin-hits-100k\/\">glimmer of hope of ever returning to said prices<\/a>.<\/span><\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/wncen.com\/2019\/08\/12\/altcoin-apocalypse-crypto-bitcoin\/\">Altcoin Apocalypse: Only Two of Top Ten Crypto Cap Have Outperformed Bitcoin\u00a0<\/a><\/strong><\/em><\/p>\n<p class=\"p1\"><span class=\"s1\">Recent regulatory uncertainty, the largest crypto exchange in the market cutting off the largest population of investors from most altcoins, and a Bitcoin bull run have only further sucked any life and capital out of the altcoin market.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">These factors combined could be why even despite what should be extremely attractive prices for buying, the overwhelming majority of crypto investors believe there is \u201cmore pain\u201d to come for altcoins like <a href=\"\/tag\/ripple\" rel=\"nofollow\">Ripple<\/a> or <a href=\"\/tag\/ethereum\" rel=\"nofollow\">Etheruem<\/a>.<\/span><\/p>\n<p>https:\/\/twitter.com\/alexlibertas_\/status\/52928256?s=21<\/p>\n<p class=\"p1\"><span class=\"s1\">According to a recent <a href=\"https:\/\/twitter.com\/alexlibertas_\/status\/52928256?s=21\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">Twitter poll<\/a>, 70% or more than two-thirds of over 4,700 respondents believe that the altcoin carnage isn\u2019t complete, while the remaining 30% think that the asset class has finally bottomed.<\/span><\/p>\n<h2 class=\"p1\"><span class=\"s1\">Remember The Bitcoin Bottom? Sentiment Can Be a Powerful Contrarian Indicator<\/span><\/h2>\n<p class=\"p1\"><span class=\"s1\">The current sentiment surrounding altcoins is similar to the <a href=\"https:\/\/wncen.com\/2019\/02\/08\/20k-3k-bitcoin-price-crypto\/\">sentiment around Bitcoin when it was trading in its lowest bear market range<\/a> between $3,200 and $4,000 in early 2019. Crypto investors everywhere at that point had moved into the anger and despair phase, and overly irrational lows were commonplace.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">This type of extreme sentiment that is being witnessed in the alt market was a <a href=\"https:\/\/wncen.com\/2019\/02\/08\/20k-3k-bitcoin-price-crypto\/\">powerful contrarian indicator for Bitcoin<\/a>, and the crypto asset left its bear market lows faster than most were able to buy and has yet to truly take a break from its ongoing bull rally since.<\/span><\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/wncen.com\/2019\/08\/10\/continued-bitcoin-correction-could-cause-lead-to-altcoin-market-double-bottom\/\">Continued Bitcoin Correction Could Cause Lead to Altcoin Market Double Bottom\u00a0<\/a><\/strong><\/em><\/p>\n<p class=\"p1\"><span class=\"s1\">Prominent investors have advocated buying the \u201cblood in the streets\u201d or \u201cbeing greedy when others are fearful\u201d \u2013 popular quotes used to remind the masses that taking a contrarian stance and a calculated risk can often bring the most financial reward. If that time is now for altcoins remains to be seen, but like Bitcoin\u2019s bottom, it may very quickly be too late to take advantage of what are the best possible prices for altcoins yet.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin has had near non stop bullish momentum throughout 2019, but the altcoin market hasn\u2019t been near as fortunate \u2013 sans a couple of outliers. The sentiment surrounding altcoins is in the gutter, and prices of even top altcoins have continued to drop in USD value and even more so in their BTC ratios. Even with all the negativity in the altcoin market, the vast majority of crypto investors expect there to be \u201cmore pain\u201d ahead for altcoins like Ethereum, Ripple, and Litecoin. Crypto Investors Expect Max Pain for Altcoin Market Any crypto investor that bought altcoins during the height of the 2017 hype bubble or during the one or two week alt season in early January 2018 \u2013 before the bear market really kicked into high gear \u2013 are carrying very heavy bags at this point \u2013 down in many cases over 90% from prices traded back then, and without a glimmer of hope of ever returning to said prices. Related Reading | Altcoin Apocalypse: Only Two of Top Ten Crypto Cap Have Outperformed Bitcoin\u00a0 Recent regulatory uncertainty, the largest crypto exchange in the market cutting off the largest population of investors from most altcoins, and a Bitcoin bull run have only further sucked any life and capital out of the altcoin market. These factors combined could be why even despite what should be extremely attractive prices for buying, the overwhelming majority of crypto investors believe there is \u201cmore pain\u201d to come for altcoins like Ripple or Etheruem. https:\/\/twitter.com\/alexlibertas_\/status\/52928256?s=21 According to a recent Twitter poll, 70% or more than two-thirds of over 4,700 respondents believe that the altcoin carnage isn\u2019t complete, while the remaining 30% think that the asset class has finally bottomed. Remember The Bitcoin Bottom? Sentiment Can Be a Powerful Contrarian Indicator The current sentiment surrounding altcoins is similar to the sentiment around Bitcoin when it was trading in its lowest bear market range between $3,200 and $4,000 in early 2019. Crypto investors everywhere at that point had moved into the anger and despair phase, and overly irrational lows were commonplace. This type of extreme sentiment that is being witnessed in the alt market was a powerful contrarian indicator for Bitcoin, and the crypto asset left its bear market lows faster than most were able to buy and has yet to truly take a break from its ongoing bull rally since. Related Reading | Continued Bitcoin Correction Could Cause Lead to Altcoin Market Double Bottom\u00a0 Prominent investors have advocated buying the \u201cblood in the streets\u201d or \u201cbeing greedy when others are fearful\u201d \u2013 popular quotes used to remind the masses that taking a contrarian stance and a calculated risk can often bring the most financial reward. If that time is now for altcoins remains to be seen, but like Bitcoin\u2019s bottom, it may very quickly be too late to take advantage of what are the best possible prices for altcoins yet.<\/p>\n","protected":false},"author":517,"featured_media":392985,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3,13625,16897,16894],"tags":[134,428,6664,3458,4257],"class_list":["post-392944","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","category-ethereum","category-litecoin","category-ripple","tag-altcoin","tag-bitcoin","tag-crypto","tag-poll","tag-twitter"],"acf":[],"yoast_head":"\n<title>Crypto Investors Believe There\u2019s More Pain Ahead For the Altcoin Market<\/title>\n<meta name=\"description\" content=\"Crypto investors beleive there is more pain to come for the altcoin market, despite alts setting new lows against Bitcoin.\" \/>\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\/crypto-investors-believe-altcoin-market\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crypto Investors Believe There\u2019s More Pain Ahead For the Altcoin Market\" \/>\n<meta property=\"og:description\" content=\"Crypto investors beleive there is more pain to come for the altcoin market, despite alts setting new lows against Bitcoin.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wncen.com\/news\/crypto-investors-believe-altcoin-market\/\" \/>\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=\"2019-08-13T18:00:19+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-08-13T17:23:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/08\/altcoin-crypto-more-pain-shutterstock_1081577687.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"5208\" \/>\n\t<meta property=\"og:image:height\" content=\"3476\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tony &quot;El Toro&quot; 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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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