Blockchance Cyber Parties

5m
cryptodaily

Price Analysis 19/07: BTC, ETH, XRP, LTC, BCH, BNB, EOS, BSV, TRX, XLM

17m
cointelegraph

Bitcoin (BTC) Is Up 6% Even As Sellers Eye $7,500

18m
cryptonewmedia

Behold the Latest Bitcoin Board Game, ‘Hodler of Last Resort’

19m
cryptonewmedia

Disgusted Bitcoin Trader Says Price Charts Mimic an Ugly ‘Penny Stock’

20m
cryptonewmedia

R3 Taps Software Sales Vet to ‘Evangelize’ Paid Version of Corda

24m
coindesk

Bitcoin Price Stuck in Tight Trading Range, BitMEX Responsible for...

40m
newsbtc

Bitcoin Maintains Price Rally But Outlook Remains Bearish Until It Climbs Above $10,950

1h
zycrypto

Oil Markets Could Save 30% With Blockchain, Data Gumbo CEO Says

1h
cointelegraph

Boeing Keeps Dow in Positive Territory as Stock Market Slides

1h
cryptonewmedia

Major Crypto Markets Report Mixed Signals, Gold Slightly Fell

1h
cointelegraph

German Central Bank President Shows Support For Libra, Calls It “Attractive” To Customers

1h
coingape

‘Samsung Coin’ Trademark Filing Unaffiliated With Samsung

1h
cointelegraph

Stock Market Investors Should HODL Because Pros Can’t Beat S&P 500

1h
cryptonewmedia

New No-Fee Visa Card for US Crypto Holders Offers Rebates From Big Brands

1h
dailyhodl

Buying Bitcoin (BTC) at $8,500 is Best, Says Analyst

2h
ethereumworldnews

Nouriel Roubini Accuses Bit MEX of “Systematic Illegality”

2h
livebitcoinnews

BitMEX Being Investigated by CFTC As ‘Dr Doom’ Gets Salty Over Hayes Debate

2h
cryptodaily

Coinbase Quietly Pulls the Plug on Its Cryptocurrency Bundle Product

2h
cryptoglobe

Apple’s Steve Wozniak Launches Blockchain Firm in Malta

2h
cryptonewmedia

Ripple (XRP) Poised For More Gains, Prices Rebound From Q1 Support

2h
cryptonewmedia

Top 5 ‘Dead’ Altcoins: NEM, BCC make the list

2h
cryptoticker

3 Battered Cryptos Are Flashing Bullish Signals

2h
cryptonewmedia

What the CFTC investigating BitMEX could mean for bitcoin and crypto market

2h
cryptoslate

Dr. Doom: Cryptocurrencies Encourage Criminal ‘Fraud and Abuse’

2h
beincrypto


Last 48 Hours See Biggest Altcoin Rally In 9 Months But Bitcoin Still...

bitcoinist

2mon ago
Similar News At:
thebitcoinnews

Emilio Janus | May 16, 2019 | 05:00

Altcoins have been staging a significant rally against Bitcoin in the past couple of days. However, Bitcoin’s own gains in May mean they may have trouble maintaining the month’s positive historical trend.

According to figures from Binance Research, May has been a good month for altcoins, with an average 18.7% gain against BTC since 2014.

The only better months historically have been March and December, both posting average gains of around 30%. Altcoins have made ground on Bitcoin during May in 3 of the past 5 years, so another win this year would give them a 67% hit rate.

True to form, altcoins have been rallying and rallying hard. Led by charges from Ethereum, Binance Coin, Stellar Lumens, and Litecoin, the past few days have seen many alt coin/BTC pairs turn bullish.

Whilst there have been minor breakouts on individual tokens, we haven’t seen this sort of general trend in the altcoin market for over 9 months. Which should mean that we are on course for another positive May for altcoins, thus cementing the month’s reputation.

However, whilst the alts have had a decidedly good month in isolation, Bitcoin has also had…

In fact, Bitcoin 00 has been pretty healthy since the end of March, thank you very much. In fact, over the last 44 days the total altcoin market cap has fallen as much as 44% in BTC terms. This has caused a bullish divergence for Bitcoin, where price was rising but altcoins fell behind in BTC terms.

However, a bullish divergence is another pretty good indicator that Bitcoin is once more in a bull market. Historically, this type of divergence has occurred significantly more frequently in bull markets than bear markets. A whopping 371 days out the 410 which have witnessed it  (or over 90%) have correlated with bullish action.

Yesterday, Bitcoinist market analyst Filb Filb noted that if BTC/USD can maintain these levels, particularly above $8,200, then it’s game on to over $9,000.

Assuming that bitcoin can regain $8200, it would be reasonable to assume that the bulls will make it their intention to test around this region.

As we come to the final phase of the parabola, which can offer the highest returns but also carries the biggest risk, all eyes will be on bitcoin once again.

This, of course, would also be good news for altcoins and would likely signal a continuation of ‘altseason.’

Are the cryptocurrency markets now entering altseason? Share your thoughts below!

Regarding any copyrights issue, please contact us:content@hashbee.com.

0 comments