{"id":471817,"date":"2021-09-16T20:00:35","date_gmt":"2021-09-16T20:00:35","guid":{"rendered":"https:\/\/wncen.com\/?p=471817"},"modified":"2024-06-11T13:58:41","modified_gmt":"2024-06-11T13:58:41","slug":"bitcoin-maxis-altcoin-season-btc","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-maxis-altcoin-season-btc\/","title":{"rendered":"Believe It Or Not, Bitcoin Maxis, Altcoin Season Might Not Have Yet Begun"},"content":{"rendered":"

Because Bitcoin<\/a> is the first ever cryptocurrency, it often has a cult-like following of investors who won’t touch an altcoin no matter the potential ROI or promise behind the technology. But the recent alt season has investors in profit from the bull run converting BTC into other coins in search of better performance.<\/p>\n

After such an incredible run by assets like Ethereum, Cardano, Solana, Dogecoin, and several others, and the fact Bitcoin is building momentum, the expectation is now that BTC dominance will soon reverse, and altcoins will see some reckoning as a result. However, according to the Relative Strength Index on monthly BTC.D charts, altcoin season might not yet have even started.<\/p>\n

Bitcoin Dominance Takes A Hit, But The Fall Might Just Have Begun<\/h2>\n

An altcoin season is defined as<\/a> a period of time when alts outperform Bitcoin by a large margin. The top cryptocurrency’s 200% returns of 2021 are shocking by normal standards, by compared to the run that Dogecoin, Solana, or Cardano have had since the year began, it is a meager milestone at best.<\/p>\n

Related Reading | Bitcoin Golden Cross: Everything You Need To Know About The Bullish Signal<\/a><\/i><\/b><\/p>\n

Most cryptocurrencies have been beating Bitcoin in both USD growth and on the BTC ratio<\/a>. Such altcoins are often trending, shooting up in price after a listing or sometimes for no reason at all. All signs point to an altcoin season that has already produced life-changing results.<\/p>\n

Except the real altcoin season of this cycle might not yet have even truly started, if the Relative Strength Index<\/a> is any indication.<\/p>\n

\"bitcoin<\/p>\n

Losing this support level could send altcoins into overdrive | Source: BTC.D on TradingView.com<\/a><\/pre>\n
The Level To Watch For The Altcoin Season Finale<\/h2>\n
Examining the chart above, BTC dominance has yet to reach oversold conditions on the monthly timeframe. Bitcoin itself rising above a reading of 70 on the RSI<\/a> sent the cryptocurrency into the bullish impulse that took it to $65,000. Falling below 30 is the opposite signal.<\/p>\n
During the last cycle, dominance briefly dipped into oversold territory, but didn’t truly go bonkers until the second half of 2017. Altcoin season stayed active full steam until early-to-mid-2018, when the bear market began and Bitcoin became the better store of value<\/a>.<\/p>\n
Altcoins then fell by 95% or more in most cases, with Bitcoin only dropping by around 84% in contrast<\/a>. The metric then bounced by more than 100% from 35% to 72% dominance in favor of Bitcoin at the very top.<\/p>\n
Related Reading | Ethereum \u201cAccumulation\u201d Nears Liftoff Phase: What This Could Mean For BTC<\/a><\/i><\/b><\/p>\n
Currently, dominance is hanging around the 41% level, which was the second in a series of peaks marking the double bottom pattern that ended altcoin season the last time. Blasting through it, should send the monthly RSI into overdrive, and ring in the true altcoin season where unimaginable wealth is made<\/a>.<\/p>\n
Other signals that the storm has yet to arrive, is the Bollinger Bands only recently starting to turn down and expand compared to the last cycle, along with the LMACD barely having turned bearish by comparison.<\/p>\n
https:\/\/twitter.com\/tonyspilotroBTC\/status\/33029381<\/p>\n
Follow <\/i><\/b>@TonySpilotroBTC on Twitter<\/i><\/b><\/a> or via <\/i><\/b>the TonyTradesBTC Telegram<\/i><\/b><\/a>. Content is\u00a0educational and should not be\u00a0considered investment advice.<\/i><\/b><\/p>\n
Featured image from iStockPhoto, Charts from TradingView.com<\/pre>\n","protected":false},"excerpt":{"rendered":"
Because Bitcoin is the first ever cryptocurrency, it often has a cult-like following of investors who won’t touch an altcoin no matter the potential ROI or promise behind the technology. But the recent alt season has investors in profit from the bull run converting BTC into other coins in search of better performance. After such an incredible run by assets like Ethereum, Cardano, Solana, Dogecoin, and several others, and the fact Bitcoin is building momentum, the expectation is now that BTC dominance will soon reverse, and altcoins will see some reckoning as a result. However, according to the Relative Strength Index on monthly BTC.D charts, altcoin season might not yet have even started. Bitcoin Dominance Takes A Hit, But The Fall Might Just Have Begun An altcoin season is defined as a period of time when alts outperform Bitcoin by a large margin. The top cryptocurrency’s 200% returns of 2021 are shocking by normal standards, by compared to the run that Dogecoin, Solana, or Cardano have had since the year began, it is a meager milestone at best. Related Reading | Bitcoin Golden Cross: Everything You Need To Know About The Bullish Signal Most cryptocurrencies have been beating Bitcoin in both USD growth and on the BTC ratio. Such altcoins are often trending, shooting up in price after a listing or sometimes for no reason at all. All signs point to an altcoin season that has already produced life-changing results. Except the real altcoin season of this cycle might not yet have even truly started, if the Relative Strength Index is any indication. Losing this support level could send altcoins into overdrive | Source: BTC.D on TradingView.com The Level To Watch For The Altcoin Season Finale Examining the chart above, BTC dominance has yet to reach oversold conditions on the monthly timeframe. Bitcoin itself rising above a reading of 70 on the RSI sent the cryptocurrency into the bullish impulse that took it to $65,000. Falling below 30 is the opposite signal. During the last cycle, dominance briefly dipped into oversold territory, but didn’t truly go bonkers until the second half of 2017. Altcoin season stayed active full steam until early-to-mid-2018, when the bear market began and Bitcoin became the better store of value. Altcoins then fell by 95% or more in most cases, with Bitcoin only dropping by around 84% in contrast. The metric then bounced by more than 100% from 35% to 72% dominance in favor of Bitcoin at the very top. Related Reading | Ethereum \u201cAccumulation\u201d Nears Liftoff Phase: What This Could Mean For BTC Currently, dominance is hanging around the 41% level, which was the second in a series of peaks marking the double bottom pattern that ended altcoin season the last time. Blasting through it, should send the monthly RSI into overdrive, and ring in the true altcoin season where unimaginable wealth is made. Other signals that the storm has yet to arrive, is the Bollinger Bands only recently starting to turn down and expand compared to the last cycle, along with the LMACD barely having turned bearish by comparison. https:\/\/twitter.com\/tonyspilotroBTC\/status\/33029381 Follow @TonySpilotroBTC on Twitter or via the TonyTradesBTC Telegram. Content is\u00a0educational and should not be\u00a0considered investment advice. Featured image from iStockPhoto, Charts from TradingView.com<\/p>\n","protected":false},"author":517,"featured_media":471828,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[142,428,1119,75754,1144,78790,6664],"class_list":["post-471817","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoins","tag-bitcoin","tag-btc","tag-btc-d","tag-btcusd","tag-btcusdt","tag-crypto"],"acf":[],"yoast_head":"\nBelieve It Or Not, Bitcoin Maxis, Altcoin Season Might Not Have Yet Begun<\/title>\n<meta name=\"description\" content=\"Because Bitcoin is the first ever cryptocurrency, it often has a cult-like following of investors who won't touch an altcoin no matter the potential ROI\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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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":"Believe It Or Not, Bitcoin Maxis, Altcoin Season Might Not Have Yet Begun","url":"http:\/\/wncen.com\/news\/bitcoin-maxis-altcoin-season-btc\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-maxis-altcoin-season-btc\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/09\/bitcoin-altcoin-season-iStock-1025855364.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/09\/bitcoin-altcoin-season-iStock-1025855364.jpg?fit=1264%2C830"},"articleSection":"Cryptocurrency Market News","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","bitcoin","btc","btc.d","btcusd","btcusdt","crypto"],"dateCreated":"2021-09-16T20:00:35Z","datePublished":"2021-09-16T20:00:35Z","dateModified":"2024-06-11T13:58:41Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Believe It Or Not, Bitcoin Maxis, Altcoin Season Might Not Have Yet Begun\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-maxis-altcoin-season-btc\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-maxis-altcoin-season-btc\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/09\\\/bitcoin-altcoin-season-iStock-1025855364.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/09\\\/bitcoin-altcoin-season-iStock-1025855364.jpg?fit=1264%2C830\"},\"articleSection\":\"Cryptocurrency Market News\",\"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\",\"bitcoin\",\"btc\",\"btc.d\",\"btcusd\",\"btcusdt\",\"crypto\"],\"dateCreated\":\"2021-09-16T20:00:35Z\",\"datePublished\":\"2021-09-16T20:00:35Z\",\"dateModified\":\"2024-06-11T13:58:41Z\"}<\/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\/2021\/09\/bitcoin-altcoin-season-iStock-1025855364.jpg?fit=1264%2C830","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/471817","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=471817"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/471817\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/471828"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=471817"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=471817"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=471817"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}