{"id":416238,"date":"2020-02-27T16:00:13","date_gmt":"2020-02-27T16:00:13","guid":{"rendered":"https:\/\/wncen.com\/?p=416238"},"modified":"2020-02-27T16:10:09","modified_gmt":"2020-02-27T16:10:09","slug":"altcoin-market-trading-volume-reaches-new-crypto-all-time-high","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/altcoin-market-trading-volume-reaches-new-crypto-all-time-high\/","title":{"rendered":"Altcoin Market Trading Volume Reaches New Crypto All-Time High"},"content":{"rendered":"<p class=\"p1\"><span class=\"s1\">Earlier at the start of the year, the <a href=\"https:\/\/wncen.com\/2020\/02\/06\/altcoins-break-out-against-bitcoin-after-six-months-of-sideways\/\">altcoin market broke through downtrend resistance<\/a> spanning two years of crypto winter. The breakout caused an explosive rally that caused many crypto assets to double in value in just two months&#8217; time. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">However, trading volume has only increased during the recent selloff, reaching a new all-time high in total daily trading value. What\u2019s this say about the altcoin market and what\u2019s to come in the future?<\/span><\/p>\n<h2>Altcoin Market Sets New One-Day Record For Most Trading Volume Ever<\/h2>\n<p class=\"p1\"><span class=\"s1\">Although <a href=\"\/tag\/bitcoin\" rel=\"nofollow\">Bitcoin<\/a> has had a strong start to the new year, it has been altcoins that have been shining throughout 2020 so far. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">After two full years of downtrend, few sellers remain in the altcoin market, where even small buy orders for the illiquid assets can cause <a href=\"https:\/\/wncen.com\/2020\/02\/03\/global-altcoin-breakout-could-usher-return-of-alt-season-crypto-riches\/\">prices to skyrocket<\/a>.<\/span><\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/wncen.com\/2020\/02\/06\/altcoins-break-out-against-bitcoin-after-six-months-of-sideways\/\">Altcoins Break Out Against Bitcoin After Six Months Of Sideways<\/a><\/strong><\/em><\/p>\n<p class=\"p1\"><span class=\"s1\">At such oversold conditions, altcoins have been over performing against Bitcoin by a large margin, kicking off what many crypto analysts refer to as an <a href=\"https:\/\/wncen.com\/2020\/02\/03\/global-altcoin-breakout-could-usher-return-of-alt-season-crypto-riches\/\">alt season<\/a>. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">However, a sharp and scary selloff on the heels of the coronavirus scare tanking traditional markets, altcoins have retraced a large portion of their recent rallies. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">But while retail investors capitulate in the face of fear, uncertainty, and doubt, whales and other institutional investors are buying the dip right out from under them, according to a new record in daily volume traded. <\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Daily ATH traded volume, day hasn&#39;t even started yet&#8230; smells like massive__________, fill the blank. <a href=\"https:\/\/t.co\/2ZmfxxNer2\" rel=\"nofollow\">pic.twitter.com\/2ZmfxxNer2<\/a><\/p>\n<p>&mdash; panamax (@panamaXBT) <a href=\"https:\/\/twitter.com\/panamaXBT\/status\/46427136?ref_src=twsrc%5Etfw\" rel=\"nofollow\">February 27, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p class=\"p1\"><span class=\"s1\">The altcoin market cap has reached its highest ever daily trading volume in its history yesterday, just as many alts collapsed to local lows.<\/span><\/p>\n<h2>Volume Precedes Price: Is This The Start of Alt Season?<\/h2>\n<p class=\"p1\"><span class=\"s1\">It\u2019s often said, that <a href=\"https:\/\/www.forbes.com\/sites\/tomaspray\/2014\/01\/11\/volume-always-precedes-price\/#2ac9460818a3\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">volume precedes price in financial markets<\/a>. This is because it\u2019s large-sized investors with professional market experience are taking early positions, causing volume to rise.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Later, as the rest of the herd begins to follow the starting uptrend, price follows the surge in volume by spiking higher.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">During the altcoin downtrend breakout, the altcoin market experienced its <a href=\"https:\/\/wncen.com\/2020\/01\/24\/volume-precedes-price-altcoin-crypto-investors\/\">largest-ever daily trading volume<\/a>, before prices doubled a month later.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Now, that record was just broken as prices plummeted.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">The surging volume, according to some theories, is due to retail investors selling off altcoins during this latest crash, while these high wealth investors had buy orders waiting below that got filled as a result of the panic-induced selloff.<\/span><\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/wncen.com\/2020\/02\/20\/past-crypto-cycle-altcoin-bitcoin\/\">Past Crypto Cycle Highlights Altcoin Underperformance, But Perfect Storm is Coming<\/a><\/strong><\/em><\/p>\n<p class=\"p1\"><span class=\"s1\">With most altcoin holders in profit over the last two months, investors may be more apt to sell early in profit. But with an alt season possibly here, this latest selloff could be a massive shakeout before smart money begins to push prices higher.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">The surging trading volumes back up the theory, but only time will tell <a href=\"https:\/\/wncen.com\/2020\/02\/03\/global-altcoin-breakout-could-usher-return-of-alt-season-crypto-riches\/\">if volume really does precede price in the altcoin market<\/a>.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Earlier at the start of the year, the altcoin market broke through downtrend resistance spanning two years of crypto winter. The breakout caused an explosive rally that caused many crypto assets to double in value in just two months&#8217; time. However, trading volume has only increased during the recent selloff, reaching a new all-time high in total daily trading value. What\u2019s this say about the altcoin market and what\u2019s to come in the future? Altcoin Market Sets New One-Day Record For Most Trading Volume Ever Although Bitcoin has had a strong start to the new year, it has been altcoins that have been shining throughout 2020 so far. After two full years of downtrend, few sellers remain in the altcoin market, where even small buy orders for the illiquid assets can cause prices to skyrocket. Related Reading | Altcoins Break Out Against Bitcoin After Six Months Of Sideways At such oversold conditions, altcoins have been over performing against Bitcoin by a large margin, kicking off what many crypto analysts refer to as an alt season. However, a sharp and scary selloff on the heels of the coronavirus scare tanking traditional markets, altcoins have retraced a large portion of their recent rallies. But while retail investors capitulate in the face of fear, uncertainty, and doubt, whales and other institutional investors are buying the dip right out from under them, according to a new record in daily volume traded. Daily ATH traded volume, day hasn&#39;t even started yet&#8230; smells like massive__________, fill the blank. pic.twitter.com\/2ZmfxxNer2 &mdash; panamax (@panamaXBT) February 27, 2020 The altcoin market cap has reached its highest ever daily trading volume in its history yesterday, just as many alts collapsed to local lows. Volume Precedes Price: Is This The Start of Alt Season? It\u2019s often said, that volume precedes price in financial markets. This is because it\u2019s large-sized investors with professional market experience are taking early positions, causing volume to rise. Later, as the rest of the herd begins to follow the starting uptrend, price follows the surge in volume by spiking higher. During the altcoin downtrend breakout, the altcoin market experienced its largest-ever daily trading volume, before prices doubled a month later. Now, that record was just broken as prices plummeted. The surging volume, according to some theories, is due to retail investors selling off altcoins during this latest crash, while these high wealth investors had buy orders waiting below that got filled as a result of the panic-induced selloff. Related Reading | Past Crypto Cycle Highlights Altcoin Underperformance, But Perfect Storm is Coming With most altcoin holders in profit over the last two months, investors may be more apt to sell early in profit. But with an alt season possibly here, this latest selloff could be a massive shakeout before smart money begins to push prices higher. The surging trading volumes back up the theory, but only time will tell if volume really does precede price in the altcoin market.<\/p>\n","protected":false},"author":517,"featured_media":416242,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16895,16896,3,16892,13625,16897,16898,16894,16891],"tags":[30232,142,428,6664,4195],"class_list":["post-416238","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-cash","category-cardano","category-news","category-eos","category-ethereum","category-litecoin","category-monero-xmr","category-ripple","category-stellar-xlm","tag-alt-season","tag-altcoins","tag-bitcoin","tag-crypto","tag-trading-volume"],"acf":[],"yoast_head":"\n<title>Altcoin Market Trading Volume Reaches New Crypto All-Time High<\/title>\n<meta name=\"description\" content=\"Earlier at the start of the year, the altcoin market broke through downtrend resistance spanning two years of crypto winter. 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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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