Potential BTC Consolidation Phase Could Propel Altcoins Higher While sharing his thoughts on where altcoins could trend in the near-term, one analyst explained that Bitcoin’s dominance and range-bound trading could both work greatly in altcoins’ . Dec 16, · As for the altcoin market, the whale says he doesn’t think it’s a given that altcoins will continue to rally in Bitcoin’s wake. He points to the altcoin market cap’s size of about $ billion, . rows · Top cryptocurrency prices and charts, listed by market capitalization. Free access to .
Btc markets altcoins3 Crypto Altcoins That Could Outpace Bitcoin in the Coming Years | InvestorPlace
So, it makes the most sense to invest in coins that are backed by a strong business plan. From that perspective, Filecoin is one of the better crypto picks.
Last on my list of cryptocurrencies is Vidt, another interesting name to consider out of all the altcoins. As a business overview, Vidt Datalink protects digital data of organizations against fraud and manipulation. However, at over 70 cents, the crypto is still attractive from a long-term perspective. Limited supply can push the coin price higher as strong business developments continue. That blue-chip client base is an indication of its service quality. Overall, I think this crypto has the potential to deliver multifold returns even after its big rally in the last one year.
As the client base swells, this name will likely trend higher. Faisa l has authored over 1, stock specific articles with focus on the technology, energy and commodities sector. Log in. Log out. About Us Our Analysts. Source: Shutterstock. The first of the bullish for Bitcoin signals that could send altcoins further into a bearish state, is the MACD on monthly timeframes pictured above.
Next, the Bollinger Bands on monthly timeframes are also showing just how in danger of extinction altcoins are currently. A close above or below the middle-line moving average can be used as a confirmation to buy or sell. Assets closing beyond the middle-line often result in the price action tagging the other side of the band.
Failing to close through the middle-line, could bring alt season to the crypto market finally. But if BTC dominance can close outside of the Ichimoku cloud in December, all bets are likely off for altcoins for the time being. The Tenkan-Sen above the Kijun-Sen is also a signal that a bullish trend is underway.
The significance of each crossover is depicted with red and green arrows. D would be a signal of doom for altcoins.
The remaining source of hope, however, is also in the cloud itself. The Kumo projects future price action, and in this case, the cloud being red potentially hints at bearish price action ahead for BTC. If the monthly December close on BTC. D ends up above any of the key levels, expect altcoins to remain bearish compared to Bitcoin.