[ad_1]
After a relatively slow weekend the cryptocurrency markets are pumping up quite a bit. Most of the coins are claiming double-digit earnings with EOS increasing by more than 24% in the last 24 hours. Is this finally a sign of recovery? Is this the beginning of the altseason?
After a relatively slow weekend where prices have not moved much, Monday morning began with substantial gains. The global capital cap of cryptocurrency has increased by more than 10 billion, bringing it to the current total of 115 billion at the time of writing. In recent months, traders have tried to call the Bitcoin fund. Many thought that the $ 5000- $ 6000 level would not have been violated, but when Bitcoin fell to $ 3,000 the operators were not so sure.
What is interesting to see is how overcoins are outperforming Bitcoin in terms of a percentage increase in prices at the moment. While it seems that Bitcoin is still conducting all the price movements of cryptocurrencies, the fact that other currencies are increasing more than Bitcoin could be a sign that the Altseason is upon us.
If you are not familiar with the season altcoin, this is a time in the market where other cryptocurrencies outweigh BTC's performance in terms of price gains. In our previous article on price analysis, we mentioned how Twitter's CryptoBull believes the altcoin season is about to start regardless of how Bitcoin behaves.
The three most likely scenarios now imo:
1. Bitcoin rebounds, the altseason begins.
2. Bitcoin remains flat, the altseason begins.
3. Bitcoin drops further, starts the altseason.– Crypto ฿ ull (@CryptoBull) December 13, 2018
About Altseason, EOS exceeded Stellar overtaking by over 25% and placed it among the top 4 cryptocurrencies for market capitalization. Only last month XRP passed Ethereum for second place, and it was only 2 days ago where Litecoin passed Bitcoin Cash and Bitcoin SV. It seems that the "status quo" of the market is now threatened by several cryptocurrencies that exceed competitors.
Skeptics are not quite so sure
With the bear market trend throughout the year, many skeptics were not shy about sharing their doubts about cryptography, calling it scam, fraud, ponzi scheme, vaporware etc. However, when Anthony Pompliano – Founder & Partner of Morgan Creek Digital – offered $ 1 million to opponents if stocks outnumbered the crypto in the next 10 years, no one accepted the challenge.
Crypto is a scam scam Going To Zero Scheme of Ponzi useless Bubble Rat Poison but not one of the opponents would accept the @APompliano Crypto's one million dollar bet will outweigh the shares in the next decade. Hodl
– Digital Asset Investor (@digitalassetbuy) December 16, 2018
This shows that even the skeptics do not really believe what they are saying. Every market is cyclical, it is a pity that the bear market has been dragged for so long, but this is nothing new for cryptography. The good news is the next cycle after a bear market is a bull market, so you just have to be patient. If the altseason is really about us, this is a great indicator that the bullish momentum will come in the near future.
Disclaimer: this is not about trading or investment advice. The article above is for entertainment and training purposes only. Please do your own research before buying or investing in any cryptocurrency.
[ad_2]Source link
