This Chart Shows Why An Altcoin Bounce Could Be Imminent
The crypto markets are never dull. Exciting times are being predicted as the Altcoin market is set to bounce back. This is according to Paddy Stash who monitored a trend in the altcoin market. From the chart studied, it may be possible that end 2019 or the beginning of 2020 may be the beginning of the altcoin market comeback.
Here is a look at the Monthly #altcoin dominance chart. Again, note the similarities over the 6 year history of the chart. I see no reason why this time would be different. Obviously the market evolves, however, there is TONS of money to be made in alts.. They wont fizzle. pic.twitter.com/XPgGtvq6Je
— Paddy stash (@paddystash) August 27, 2019
Is History About To Repeat Itself?
Following the famous bull run in 2017, the altcoin market flourished as ICOs were being announced almost weekly. However, as time went by and platforms failed to fulfill their objectives, the altcoin market went down. The crypto winter in 2018 did further damage to the market.
Now, trends in the altcoin charts are giving altcoin traders hope.
From studying the altcoin market, Paddy Stash noticed a particular trend just before the altcoin market bounced back.
The altcoin market is currently on a similar path, thus suggesting that an altcoin season is on the horizon.
The rise recorded in 2015, 2016 and 2017 all came after a low point in the altcoin market. Currently, the altcoin market is experiencing the lowest point in its entire history, suggesting that it may be time for another comeback.
Further Optimism Among Hopefuls
Paddy Stash isn’t the only one hopeful for an altcoin comeback. Recently, a prediction was made based on the bitcoin trend, which also showed a possible bounce for the altcoin market.
There are also other hopefuls airing their sentiments on social media platforms such as Twitter.
— Spigfish (@spigfish) August 23, 2019
Whether or not altcoin season arrives is going to be tremendously discussed by the community. In crypto, there never seems to be a dull moment.
Sal Miah is the senior editor at Blockspectator News and is a regular contributor to a variety of cryptocurrency news websites and projects. He has written hundreds of articles on numerous topics related to blockchain and also has a special interest in financial markets. Contact him directly at firstname.lastname@example.org