{"id":394620,"date":"2019-08-29T19:00:55","date_gmt":"2019-08-29T19:00:55","guid":{"rendered":"https:\/\/wncen.com\/?p=394620"},"modified":"2019-08-29T15:24:39","modified_gmt":"2019-08-29T15:24:39","slug":"altcoins-bear-market-bitcoin-2019","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/altcoins-bear-market-bitcoin-2019\/","title":{"rendered":"Altcoins Still In a Bear Market, But What About Bitcoin?"},"content":{"rendered":"<p>Recently, the crypto market fear and greed index hit its lowest point in history, despite <a href=\"\/tag\/bitcoin-price\" rel=\"nofollow\">Bitcoin price<\/a> trading above $10,000 and at that point had yet to break down. The fear was mostly driven by altcoin holders who have been selling any remaining bags at a substantial loss at an alarming rate.<\/p>\n<p>While even altcoins did rally in early 2019, it&#8217;s becoming increasingly clear that the <a href=\"\/tag\/crypto\" rel=\"nofollow\">crypto<\/a> industry is still in a bear market, except for Bitcoin. But with altcoin sentiment so low, and Bitcoin beginning to break down, it&#8217;s difficult to say if Bitcoin&#8217;s next bull market has begun, or if it&#8217;ll return to a bear trend much like its crypto cousins have over the last few months.<\/p>\n<h2>Altcoins Continue The Crypto Bear Market Trend<\/h2>\n<p>At the height of the crypto bubble, crypto investors bought up altcoins in hopes of finding the next <a href=\"\/tag\/bitcoin\" rel=\"nofollow\">Bitcoin<\/a> and to get in at the ground floor of what most believed to be a major technological revolution. But those hopes have since disappeared, and those that got caught up in the crypto hype have long been stuck with heavy bags that have only gotten heavier and heavier as time goes on.<\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/wncen.com\/2019\/08\/28\/altcoin-market-is-failing-to-produce-utility-only-bitcoin-can-become-money\/\">Altcoin Market Is Failing to Produce Utility, Only Bitcoin Can Become Money\u00a0<\/a><\/strong><\/em><\/p>\n<p>Altcoin investors have also had to watch a minor rally occur, only to fail, and stand by while Bitcoin absorbed any remaining capital altcoin had left in their market caps. It&#8217;s caused extreme panic, despair, and fear in altcoins holders, with many turning BTC maximalist as a result.<\/p>\n<p>Confirming the bearish trend continuation, as one crypto analyst points out, almost the entire crypto market including the top ten crypto assets by market cap are all trading under their 200DMA (<a href=\"https:\/\/www.investopedia.com\/terms\/d\/displacedmovingaverage.asp\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">displaced moving average<\/a>).<\/p>\n<p>https:\/\/twitter.com\/canteringclark\/status\/88108041?s=21<\/p>\n<p>Not only are altcoins trading below their 200 DMA, but they&#8217;re also at some of the lowest points they&#8217;ve been in years in terms of their BTC ratios, with BTC dominance continuing to trend higher and higher. Most are already down over 80-90% of their all-time highs, and <a href=\"https:\/\/wncen.com\/2019\/07\/24\/altcoins-may-never-again-reach-all-time-high-even-if-bitcoin-hits-100k\/\">may never again reach those price levels<\/a> \u2013 even if Bitcoin were to reach $100,000 per BTC.<\/p>\n<h2>Could Bitcoin Return to a Bear Market, Or Is This Just a Correction?<\/h2>\n<p>Bitcoin is the only crypto asset that isn&#8217;t trading under its 200 DMA, but Bitcoin price has only just begun to break down. Some analysts believe that it&#8217;s the selling pressure and sentiment surrounding altcoins that is helping to drag down the king of crypto.<\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/wncen.com\/2019\/08\/27\/crypto-analyst-warns-of-potential-feb-2018-style-bitcoin-price-plunge\/\">Analyst Warns of Potential Feb 2018 Style Crypto Crash\u00a0<\/a><\/strong><\/em><\/p>\n<p>Bitcoin has been incredibly bullish throughout 2019, partly driven by the asset&#8217;s <a href=\"https:\/\/wncen.com\/2019\/08\/05\/bitcoin-store-of-value-narrative-turning-toward-safe-haven-asset\/\">safe-haven narrative<\/a> in the face of growing global economic turmoil. Bitcoin price has risen alongside gold, giving it additional weight with institutional investors. Couple that with crypto investors buying up the bottom \u2013 who are long-term bullish on Bitcoin and expect prices of $100,000 to millions in the future \u2013 in fear of missing out and having to buy at higher prices, and it was the perfect recipe for a parabola.<\/p>\n<p>But that parabolic rally has long been broken, and <a href=\"\/tag\/bitcoin-price\" rel=\"nofollow\">Bitcoin price<\/a> has started to struggle and fall. For now, it&#8217;s too early to say if the first-ever crypto asset will return to a bear market, but if altcoins are any indication, there could be <a href=\"https:\/\/wncen.com\/2019\/08\/13\/crypto-investors-believe-altcoin-market\/\">more pain for all crypto investors<\/a> \u2013 including Bitcoin holders \u2013 in the days ahead.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Recently, the crypto market fear and greed index hit its lowest point in history, despite Bitcoin price trading above $10,000 and at that point had yet to break down. The fear was mostly driven by altcoin holders who have been selling any remaining bags at a substantial loss at an alarming rate. While even altcoins did rally in early 2019, it&#8217;s becoming increasingly clear that the crypto industry is still in a bear market, except for Bitcoin. But with altcoin sentiment so low, and Bitcoin beginning to break down, it&#8217;s difficult to say if Bitcoin&#8217;s next bull market has begun, or if it&#8217;ll return to a bear trend much like its crypto cousins have over the last few months. Altcoins Continue The Crypto Bear Market Trend At the height of the crypto bubble, crypto investors bought up altcoins in hopes of finding the next Bitcoin and to get in at the ground floor of what most believed to be a major technological revolution. But those hopes have since disappeared, and those that got caught up in the crypto hype have long been stuck with heavy bags that have only gotten heavier and heavier as time goes on. Related Reading | Altcoin Market Is Failing to Produce Utility, Only Bitcoin Can Become Money\u00a0 Altcoin investors have also had to watch a minor rally occur, only to fail, and stand by while Bitcoin absorbed any remaining capital altcoin had left in their market caps. It&#8217;s caused extreme panic, despair, and fear in altcoins holders, with many turning BTC maximalist as a result. Confirming the bearish trend continuation, as one crypto analyst points out, almost the entire crypto market including the top ten crypto assets by market cap are all trading under their 200DMA (displaced moving average). https:\/\/twitter.com\/canteringclark\/status\/88108041?s=21 Not only are altcoins trading below their 200 DMA, but they&#8217;re also at some of the lowest points they&#8217;ve been in years in terms of their BTC ratios, with BTC dominance continuing to trend higher and higher. Most are already down over 80-90% of their all-time highs, and may never again reach those price levels \u2013 even if Bitcoin were to reach $100,000 per BTC. Could Bitcoin Return to a Bear Market, Or Is This Just a Correction? Bitcoin is the only crypto asset that isn&#8217;t trading under its 200 DMA, but Bitcoin price has only just begun to break down. Some analysts believe that it&#8217;s the selling pressure and sentiment surrounding altcoins that is helping to drag down the king of crypto. Related Reading | Analyst Warns of Potential Feb 2018 Style Crypto Crash\u00a0 Bitcoin has been incredibly bullish throughout 2019, partly driven by the asset&#8217;s safe-haven narrative in the face of growing global economic turmoil. Bitcoin price has risen alongside gold, giving it additional weight with institutional investors. Couple that with crypto investors buying up the bottom \u2013 who are long-term bullish on Bitcoin and expect prices of $100,000 to millions in the future \u2013 in fear of missing out and having to buy at higher prices, and it was the perfect recipe for a parabola. But that parabolic rally has long been broken, and Bitcoin price has started to struggle and fall. For now, it&#8217;s too early to say if the first-ever crypto asset will return to a bear market, but if altcoins are any indication, there could be more pain for all crypto investors \u2013 including Bitcoin holders \u2013 in the days ahead.<\/p>\n","protected":false},"author":517,"featured_media":394623,"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":[142,5687,428,53203,1501],"class_list":["post-394620","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","category-ethereum","category-litecoin","category-ripple","tag-altcoins","tag-bear-market","tag-bitcoin","tag-cantering-clark","tag-correction"],"acf":[],"yoast_head":"\n<title>Altcoins Still In a Bear Market, But What About Bitcoin?<\/title>\n<meta name=\"description\" content=\"Sentiment and selling pressure around altcoins may cause Bitcoin price to drop further and put the entire crypto industry back into a bear market.\" \/>\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\/altcoins-bear-market-bitcoin-2019\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Altcoins Still In a Bear Market, But What About Bitcoin?\" \/>\n<meta property=\"og:description\" content=\"Sentiment and selling pressure around altcoins may cause Bitcoin price to drop further and put the entire crypto industry back into a bear market.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wncen.com\/news\/altcoins-bear-market-bitcoin-2019\/\" \/>\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=\"2019-08-29T19:00:55+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-08-29T15:24:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/08\/altcoins-altcoin-crypto-bitcoin-bear-market-shutterstock_1104279386-860x573.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"860\" \/>\n\t<meta property=\"og:image:height\" content=\"573\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tony &quot;The Bull&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. 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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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. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.","sameAs":["https:\/\/coinchartist.io\/","https:\/\/www.instagram.com\/coinchartist_io\/","https:\/\/x.com\/https:\/\/twitter.com\/tonythebullBTC","https:\/\/www.youtube.com\/@coinchartist_io"],"url":"https:\/\/wncen.com\/author\/tonymspilotro\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Altcoins Still In a Bear Market, But What About Bitcoin?","url":"http:\/\/wncen.com\/news\/altcoins-bear-market-bitcoin-2019\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/altcoins-bear-market-bitcoin-2019\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2019\/08\/altcoins-altcoin-crypto-bitcoin-bear-market-shutterstock_1104279386.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2019\/08\/altcoins-altcoin-crypto-bitcoin-bear-market-shutterstock_1104279386.jpg?fit=6000%2C4000"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Tony \"The Bull\" Severino"}],"creator":["Tony \"The Bull\" Severino"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoins","bear market","bitcoin","cantering clark","correction"],"dateCreated":"2019-08-29T19:00:55Z","datePublished":"2019-08-29T19:00:55Z","dateModified":"2019-08-29T19:00:55Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Altcoins Still In a Bear Market, But What About Bitcoin?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/altcoins-bear-market-bitcoin-2019\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/altcoins-bear-market-bitcoin-2019\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/altcoins-altcoin-crypto-bitcoin-bear-market-shutterstock_1104279386.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/altcoins-altcoin-crypto-bitcoin-bear-market-shutterstock_1104279386.jpg?fit=6000%2C4000\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Tony \\\"The Bull\\\" Severino\"}],\"creator\":[\"Tony \\\"The Bull\\\" Severino\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoins\",\"bear market\",\"bitcoin\",\"cantering clark\",\"correction\"],\"dateCreated\":\"2019-08-29T19:00:55Z\",\"datePublished\":\"2019-08-29T19:00:55Z\",\"dateModified\":\"2019-08-29T19:00:55Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2019\/08\/altcoins-altcoin-crypto-bitcoin-bear-market-shutterstock_1104279386.jpg?fit=6000%2C4000","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/394620","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/517"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=394620"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/394620\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/394623"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=394620"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=394620"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=394620"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}