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The boom of 2017 was great, but what followed was a steady decline in cryptographic values that began at the dawn of 2018. Since then, the encryption prices have made the pendulum swing between bulls and bears for the best part of the past some months of 2018. However, in the last weeks before September, the market was relatively stable, with many scrambled, in particular Bitcoin and Ethereum, which recorded rather impressive value balances. In September, things really went to the south when the market experienced a sudden bearish rush that came into effect on September 5 .
Recalling 2014
At the moment, and compared to the highs of 2017, altcoins have lost about 85% of their market value over the last 252 days, and that's where the good news could start. It is recalled that in 2014, a period in which the altcoins lost more than 86% of their value in 266 days, but it is right before the bulls broke and charged the price up to a new maximum. Currently, the 20 largest cryptocurrencies have been about to lose, but it could change very quickly – just like in 2014.
According to GalaxyBTC, an encrypted storage machine, the next two weeks could present a trigger that could very well trace the miracle of 2014. In fact, GalaxyBTC bets that the altcoin market will not collapse in a short time.
In a well-balanced tweet that has earned thousands of shares and retweets, GalaxyBTC has drawn a parallel between what happened in 2014 and what's happening in September 2018. In 2014, there were only a handful of cryptocurrencies in the market, a far different difference for the 1934 altcoins that are currently traded in the encrypted markets in 2018. As such, the huge number of cryptocurrencies in the market means that they are still able to maintain considerable market capitalization. A good cap keeps the encrypted world alive.
A rebound seems imminent
However, it is still a fact that the cryptographic market is a rather volatile commercial space that many think they have not established any credible moving model. But that belief could be in direct contradiction with what happened to the crypto market every year in January in the last 4 years. During this month, the market has always seen a fall in prices, followed by a recovery period that culminates in an impressive peak by the end of the year.
Could it be what is also happening this year? Going forward, it is quite certain that the next two weeks will be a critical and possibly decisive period for the altcoins, and in all likelihood, the bulls seem destined to take over.
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