{"id":413271,"date":"2020-02-03T17:00:31","date_gmt":"2020-02-03T17:00:31","guid":{"rendered":"https:\/\/www.wncen.com\/?p=413271"},"modified":"2020-02-03T16:57:28","modified_gmt":"2020-02-03T16:57:28","slug":"global-altcoin-breakout-could-usher-return-of-alt-season-crypto-riches","status":"publish","type":"post","link":"https:\/\/www.wncen.com\/news\/global-altcoin-breakout-could-usher-return-of-alt-season-crypto-riches\/","title":{"rendered":"Global Altcoin Breakout Could Usher Return of Alt Season Crypto Riches"},"content":{"rendered":"<p>The <a href=\"https:\/\/www.wncen.com\/2020\/01\/20\/altcoin-market-bottoms-with-highest-buy-volume-in-crypto-history\/\">altcoin market has been ablaze all 2020 thus far<\/a>, after the total crypto market and many individual altcoins broke out from downtrend resistance and went on massive rallies.<\/p>\n<p>Next, altcoins are preparing a global breakout of major, horizontal resistance, which if holds could lead to a return of alt season and <a href=\"https:\/\/www.wncen.com\/2020\/01\/23\/altcoin-market-following-early-bitcoin-path-could-lead-to-life-changing-wealth\/\">richest beyond investor&#8217;s wildest imaginations<\/a>.<\/p>\n<h2>Altcoin Market Prepares For Break Above Critical Overhead Resistance<\/h2>\n<p>Across the top ten cryptocurrencies by market cap, altcoins have been <a href=\"https:\/\/www.wncen.com\/2020\/01\/23\/altcoin-market-following-early-bitcoin-path-could-lead-to-life-changing-wealth\/\">exploding in value<\/a>, with some gaining over 400% during their recent local rallies. Ethereum, Litecoin, and even XRP are now through their diagonal downtrend lines.<\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/www.wncen.com\/2020\/01\/22\/altcoin-market-preparing-shocking-disbelief-rally-according-to-wall-street-cheat-sheet\/\">Altcoin Market Preparing Shocking Disbelief Rally According to Wall Street Cheat Sheet\u00a0<\/a><\/strong><\/em><\/p>\n<p>The collective bullish price action across the altcoin space, is causing the total altcoin market to contest with horizontal, overhead resistance \u2013 potentially the last remaining hurdle before a new bull market is in full effect.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/search?q=%24ALTS&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$ALTS<\/a> Breaking out, globally. Just want to see a few days above 90B for confirmation. <\/p>\n<p>Then it will be 24\/7 charting madness and crazy times again. <br \/>You ready? <a href=\"https:\/\/t.co\/25y0S6BaSI\" rel=\"nofollow\">pic.twitter.com\/25y0S6BaSI<\/a><\/p>\n<p>&mdash; Trading Tank (@TradingTank) <a href=\"https:\/\/twitter.com\/TradingTank\/status\/55175424?ref_src=twsrc%5Etfw\" rel=\"nofollow\">February 3, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to one crypto analyst, if the altcoin market cap breaks out and holds above $90 billion USD for a few daily candle closes, the market will be primed for additional, powerful upside in the coming months ahead.<\/p>\n<p>It&#8217;s revived discussion across the crypto community about an &#8220;alt season&#8221; coming &#8220;soon.&#8221;<\/p>\n<p>Alt seasons are often short, yet explosive periods of time where altcoins outperform Bitcoin by a significant margin and often go on rallies that <a href=\"https:\/\/www.wncen.com\/2020\/01\/23\/altcoin-market-following-early-bitcoin-path-could-lead-to-life-changing-wealth\/\">result in over a few thousand percent gains<\/a>.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">altseason soon. that&#39;s the tweet\ud83d\udc40<\/p>\n<p>&mdash; Adrian Zdu\u0144czyk, CMT (@crypto_birb) <a href=\"https:\/\/twitter.com\/crypto_birb\/status\/55284737?ref_src=twsrc%5Etfw\" rel=\"nofollow\">February 2, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2>History Repeats: Is Alt Season Finally Upon the Crypto Market?<\/h2>\n<p>The idea of alt season has turned itself into a meme after each time it was mentioned throughout 2019, it almost immediately led to a deep selloff in altcoins.<\/p>\n<p>Before the breakout occurred, the bottoming pattern according to another analyst claimed appeared to <a href=\"https:\/\/www.wncen.com\/2020\/01\/23\/altcoin-market-following-early-bitcoin-path-could-lead-to-life-changing-wealth\/\">resemble early Bitcoin price charts<\/a>, suggesting that &#8220;life-changing wealth&#8221; could be ahead for altcoin investors.<\/p>\n<p>If an alt season does occur, that&#8217;s exactly what will happen if history repeats itself.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Altcoins have been pumping like crazy as of late<\/p>\n<p>But this is nothing compared to the euphoria and FOMO that has yet to come<\/p>\n<p>In 2017, it took Litecoin only 5 days to rally from $96 to $420<\/p>\n<p>The euphoria stages of a bull market come at you fast<\/p>\n<p>Be prepared<a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$BTC<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#Bitcoin<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/Crypto?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#Crypto<\/a><\/p>\n<p>&mdash; Rekt Capital (@rektcapital) <a href=\"https:\/\/twitter.com\/rektcapital\/status\/47513090?ref_src=twsrc%5Etfw\" rel=\"nofollow\">February 2, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>During previous alt seasons, <a href=\"\/tag\/litecoin\" rel=\"nofollow\">Litecoin<\/a> rallied from $96 to $420 in just five total days. This amounts to a 337% increase.<\/p>\n<p>In roughly the same amount of time, <a href=\"https:\/\/www.wncen.com\/2020\/01\/29\/ready-for-liftoff-two-year-downtrend-breakout-could-lead-to-14-xrp\/\">XRP rallied from 16 cents apiece to as much as $3.50 per XRP token<\/a>, resulting in an over 2,000% gain for Ripple investors.<\/p>\n<p><a href=\"https:\/\/www.wncen.com\/2020\/01\/30\/ethereum-pattern-points-to-further-underperformance-despite-bitcoin-rally\/\">Ethereum<\/a> during this time rallied from $300 to $1,400 per ETH. A year earlier each ETH token was just $5.<\/p>\n<p>It wasn&#8217;t uncommon to see such incredible returns on investments. It was this buying frenzy that caused the <a href=\"https:\/\/en.wikipedia.org\/wiki\/Cryptocurrency_bubble\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">crypto hype bubble in late 2017<\/a> \u2013 a bubble that popped and caused much of the astronomical gains to be completely erased.<\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/www.wncen.com\/2020\/01\/30\/10-factors-confirm-a-new-crypto-bull-market-has-officially-begun\/\">10 Factors Confirm a New Crypto Bull Market Has Officially Begun<\/a><\/strong><\/em><\/p>\n<p>Although altcoins are pumping &#8220;crazy as of late&#8221; like analysts are claiming, their primary use remains little more than speculation. So the next time your altcoin portfolio reaches gains of 1000% or more, remember to consider taking some profit this time around \u2013 because there&#8217;s always a chance what goes up, comes back down.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The altcoin market has been ablaze all 2020 thus far, after the total crypto market and many individual altcoins broke out from downtrend resistance and went on massive rallies. Next, altcoins are preparing a global breakout of major, horizontal resistance, which if holds could lead to a return of alt season and richest beyond investor&#8217;s wildest imaginations. Altcoin Market Prepares For Break Above Critical Overhead Resistance Across the top ten cryptocurrencies by market cap, altcoins have been exploding in value, with some gaining over 400% during their recent local rallies. Ethereum, Litecoin, and even XRP are now through their diagonal downtrend lines. Related Reading | Altcoin Market Preparing Shocking Disbelief Rally According to Wall Street Cheat Sheet\u00a0 The collective bullish price action across the altcoin space, is causing the total altcoin market to contest with horizontal, overhead resistance \u2013 potentially the last remaining hurdle before a new bull market is in full effect. $ALTS Breaking out, globally. Just want to see a few days above 90B for confirmation. Then it will be 24\/7 charting madness and crazy times again. You ready? pic.twitter.com\/25y0S6BaSI &mdash; Trading Tank (@TradingTank) February 3, 2020 According to one crypto analyst, if the altcoin market cap breaks out and holds above $90 billion USD for a few daily candle closes, the market will be primed for additional, powerful upside in the coming months ahead. It&#8217;s revived discussion across the crypto community about an &#8220;alt season&#8221; coming &#8220;soon.&#8221; Alt seasons are often short, yet explosive periods of time where altcoins outperform Bitcoin by a significant margin and often go on rallies that result in over a few thousand percent gains. altseason soon. that&#39;s the tweet\ud83d\udc40 &mdash; Adrian Zdu\u0144czyk, CMT (@crypto_birb) February 2, 2020 History Repeats: Is Alt Season Finally Upon the Crypto Market? The idea of alt season has turned itself into a meme after each time it was mentioned throughout 2019, it almost immediately led to a deep selloff in altcoins. Before the breakout occurred, the bottoming pattern according to another analyst claimed appeared to resemble early Bitcoin price charts, suggesting that &#8220;life-changing wealth&#8221; could be ahead for altcoin investors. If an alt season does occur, that&#8217;s exactly what will happen if history repeats itself. Altcoins have been pumping like crazy as of late But this is nothing compared to the euphoria and FOMO that has yet to come In 2017, it took Litecoin only 5 days to rally from $96 to $420 The euphoria stages of a bull market come at you fast Be prepared$BTC #Bitcoin #Crypto &mdash; Rekt Capital (@rektcapital) February 2, 2020 During previous alt seasons, Litecoin rallied from $96 to $420 in just five total days. This amounts to a 337% increase. In roughly the same amount of time, XRP rallied from 16 cents apiece to as much as $3.50 per XRP token, resulting in an over 2,000% gain for Ripple investors. Ethereum during this time rallied from $300 to $1,400 per ETH. A year earlier each ETH token was just $5. It wasn&#8217;t uncommon to see such incredible returns on investments. It was this buying frenzy that caused the crypto hype bubble in late 2017 \u2013 a bubble that popped and caused much of the astronomical gains to be completely erased. Related Reading | 10 Factors Confirm a New Crypto Bull Market Has Officially Begun Although altcoins are pumping &#8220;crazy as of late&#8221; like analysts are claiming, their primary use remains little more than speculation. So the next time your altcoin portfolio reaches gains of 1000% or more, remember to consider taking some profit this time around \u2013 because there&#8217;s always a chance what goes up, comes back down.<\/p>\n","protected":false},"author":517,"featured_media":413276,"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":[142,428,6664,1946,10,4531],"class_list":["post-413271","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","category-ethereum","category-litecoin","category-ripple","tag-altcoins","tag-bitcoin","tag-crypto","tag-ethereum","tag-litecoin","tag-xrp"],"acf":[],"yoast_head":"\n<title>Global Altcoin Breakout Could Usher Return of Alt Season Crypto Riches<\/title>\n<meta name=\"description\" content=\"The altcoin market has been ablaze all 2020 thus far, after the total crypto market and many individual altcoins broke out from downtrend resistance and\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.wncen.com\/news\/global-altcoin-breakout-could-usher-return-of-alt-season-crypto-riches\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Global Altcoin Breakout Could Usher Return of Alt Season Crypto Riches\" \/>\n<meta property=\"og:description\" content=\"The altcoin market has been ablaze all 2020 thus far, after the total crypto market and many individual altcoins broke out from downtrend resistance and\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.wncen.com\/news\/global-altcoin-breakout-could-usher-return-of-alt-season-crypto-riches\/\" \/>\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=\"2020-02-03T17:00:31+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-02-03T16:57:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.wncen.com\/wp-content\/uploads\/2020\/02\/altcoin-crypto-bitcoin-wealth-shutterstock_641907160.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"667\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tony &quot;The Bull&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. 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:\/\/www.wncen.com\/author\/tonymspilotro\/\"}]}<\/script>\n","yoast_head_json":{"title":"Global Altcoin Breakout Could Usher Return of Alt Season Crypto Riches","description":"The altcoin market has been ablaze all 2020 thus far, after the total crypto market and many individual altcoins broke out from downtrend resistance 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