Topic: Altcoins Bleed More Than 2014 Correction: Is The Reversal Coming? - page 2. (Read 216 times)
September 18, 2018, 08:18:56 AM
Right now there are more altcoins in the market than there was in 2014. So it will be obvious to see that the altcoins are taking the harder blow than the BTC in the market.
September 16, 2018, 09:08:34 AM
Data Pack Insight as you said 2018-2019 figure is different with 2014-2015 and the Market Capitalization is more big than the previous years of comparison. So lets continue to speculate and if you were right the correction period is not yet finish in Both Bitcoin and Altcoin's. I hope its not true damn it! its another bloody red 4th quarter I guess if the reversal is not realized!
If the figures are right then the Altcoin correction could be over, but Bitcoin has another 5 months. It was until August 2014 (9 months) when it corrected 82%, this year we've had an Altcoin correction for 9 months so far that's wiped out 86%. I don't doubt there is more to come, but I'd also expect BTC to lose some dominance as it's gained too much too fast imo.
The question for me is whether Bitcoin will hold the $6 mark or fall towards $4k in the coming months, not whether Altcoins will regain some dominance in the market personally. If Bitcoin holds $6k for the rest of the year, Altcoins could certainly benefit from this market confidence.
September 15, 2018, 01:34:12 PM
As shown in the comparison below, it's worth paying attention to the accelerated bloodshed in the altcoin market at the moment that has reached 86% this year so far. Compared to the 82% correction in the altcoin market that lasted for 9 months in 2014, the charts suggest the altcoin market could now be oversold as Bitcoin corrects further.
There are numerous arguments to suggest the Bitcoin and Altcoin corrections will sink the cryptocurrency market further, due to Bitcoin's low dominance in 2018 as well as the overvalued ICO and altcoin maket, as opposed to BTC's near monopoly in 2014.
This is a legitimate argument for why altcoins will continue correcting aggressively, as Bitcoin continues a correction towards $5k to complete an 80% reduction in value (currently this is at 70%). This would be similar to the correction of 2014, in order for the Crypto Market to lose over 80% of it's 2018 value (currently the market has lost 78%)
It's however worth noting the oversold Altcoin market began a strong recovery on August 19th 2014 after 9 months of correction, whereas Bitcoin and therefore the overall Crypto Market took until January 2015, totaling 14 months, an additional 5 months.
The altcoin market notably followed with a 68% correction from the 2014 highs until May 2015, while Bitcoin traded predominantly sideaways, gaining more dominance. However, the altcoin bears notably failed to make a lower low that year.
As relevantly, the altcoin market started it's 4 month bull-run initially gaining over 250% from August 19th 2014 to December 23rd 2014, while the pack leader fell another 30% from $475 to $334 before finding support at $200 in January 2015 to complete it's 80% correction.
https://steemit.com/bitcoin/@dragononcrypto/altcoins-bleed-more-than-2014-correction-is-the-reversal-coming
There are numerous arguments to suggest the Bitcoin and Altcoin corrections will sink the cryptocurrency market further, due to Bitcoin's low dominance in 2018 as well as the overvalued ICO and altcoin maket, as opposed to BTC's near monopoly in 2014.
This is a legitimate argument for why altcoins will continue correcting aggressively, as Bitcoin continues a correction towards $5k to complete an 80% reduction in value (currently this is at 70%). This would be similar to the correction of 2014, in order for the Crypto Market to lose over 80% of it's 2018 value (currently the market has lost 78%)
It's however worth noting the oversold Altcoin market began a strong recovery on August 19th 2014 after 9 months of correction, whereas Bitcoin and therefore the overall Crypto Market took until January 2015, totaling 14 months, an additional 5 months.
The altcoin market notably followed with a 68% correction from the 2014 highs until May 2015, while Bitcoin traded predominantly sideaways, gaining more dominance. However, the altcoin bears notably failed to make a lower low that year.
As relevantly, the altcoin market started it's 4 month bull-run initially gaining over 250% from August 19th 2014 to December 23rd 2014, while the pack leader fell another 30% from $475 to $334 before finding support at $200 in January 2015 to complete it's 80% correction.
https://steemit.com/bitcoin/@dragononcrypto/altcoins-bleed-more-than-2014-correction-is-the-reversal-coming
Data Pack Insight as you said 2018-2019 figure is different with 2014-2015 and the Market Capitalization is more big than the previous years of comparison. So lets continue to speculate and if you were right the correction period is not yet finish in Both Bitcoin and Altcoin's. I hope its not true damn it! its another bloody red 4th quarter I guess if the reversal is not realized!
September 15, 2018, 12:58:34 PM
As you said, in 2014 the market was very different, Bitcoin was in a near monopoly position. In 2018 there is far more money, and the number of altcoins is now ridiculous.
I would personally not compare the two trends, instead I prefer the dotcom bubble analogy which is more relevant if we compare it to year 2018 for the whole cryptocurrencies market. This analogy tells us that a big number of altcoins will simply die, IMO soon. It also tells us that the crypto market in general should rise, but only a few coins will be able to take advantage of it.
I would personally not compare the two trends, instead I prefer the dotcom bubble analogy which is more relevant if we compare it to year 2018 for the whole cryptocurrencies market. This analogy tells us that a big number of altcoins will simply die, IMO soon. It also tells us that the crypto market in general should rise, but only a few coins will be able to take advantage of it.
I agree with your point, I'm not bullish that altcoins will recover sooner for the reasons you mention. I find it more interesting that the altcoin market gained over 250% value as Bitcoin had it's "final plummet" down an extra 50%. That's a staggering difference to be honest. I still think BTC falling will happen, and I don't rule out that most altcoins could we wiped out.
The reason I find the charts interesting at the moment is while most altcoins could simply die out, those outside of the top 10 represent only 20% of the market. Therefore these "Others" (99.99% of the market) could be wiped out, but if "blue chip" altcoins in the Top 10 gain just 30% of value in this time, the market would still hold it's 2018 low.
So yes, 99.99% of the market could be wiped out, but the Top 10 could thrive minus the no.1 (that still has too much market share) is the possibly. Also quite true of the dotcom bubble if I remember correctly, Microsoft anyone?
Regardless, I'm still a bear until next year
September 15, 2018, 11:41:49 AM
As you said, in 2014 the market was very different, Bitcoin was in a near monopoly position. In 2018 there is far more money, and the number of altcoins is now ridiculous.
I would personally not compare the two trends, instead I prefer the dotcom bubble analogy which is more relevant if we compare it to year 2018 for the whole cryptocurrencies market. This analogy tells us that a big number of altcoins will simply die, IMO soon. It also tells us that the crypto market in general should rise, but only a few coins will be able to take advantage of it.
I would personally not compare the two trends, instead I prefer the dotcom bubble analogy which is more relevant if we compare it to year 2018 for the whole cryptocurrencies market. This analogy tells us that a big number of altcoins will simply die, IMO soon. It also tells us that the crypto market in general should rise, but only a few coins will be able to take advantage of it.
September 15, 2018, 11:26:53 AM
As shown in the comparison below, it's worth paying attention to the accelerated bloodshed in the altcoin market at the moment that has reached 86% this year so far. Compared to the 82% correction in the altcoin market that lasted for 9 months in 2014, the charts suggest the altcoin market could now be oversold as Bitcoin corrects further.
There are numerous arguments to suggest the Bitcoin and Altcoin corrections will sink the cryptocurrency market further, due to Bitcoin's low dominance in 2018 as well as the overvalued ICO and altcoin maket, as opposed to BTC's near monopoly in 2014.
This is a legitimate argument for why altcoins will continue correcting aggressively, as Bitcoin continues a correction towards $4 to complete an 80% reduction in value (currently this is at 70%). This would be similar to the correction of 2014, in order for the Crypto Market to lose over 80% of it's 2018 value (currently the market has lost 78%)
It's however worth noting the oversold Altcoin market began a strong recovery on August 19th 2014 after 9 months of correction, whereas Bitcoin and therefore the overall Crypto Market took until January 2015, totaling 14 months, an additional 5 months.
The altcoin market notably followed with a 68% correction from the 2014 highs until May 2015, while Bitcoin traded predominantly sideaways, gaining more dominance. However, the altcoin bears notably failed to make a lower low that year.
As relevantly, the altcoin market started it's 4 month bull-run initially gaining over 250% from August 19th 2014 to December 23rd 2014, while the pack leader fell another 30% from $475 to $334 before finding support at $200 in January 2015 to complete it's 80% correction.
https://steemit.com/bitcoin/@dragononcrypto/altcoins-bleed-more-than-2014-correction-is-the-reversal-coming
There are numerous arguments to suggest the Bitcoin and Altcoin corrections will sink the cryptocurrency market further, due to Bitcoin's low dominance in 2018 as well as the overvalued ICO and altcoin maket, as opposed to BTC's near monopoly in 2014.
This is a legitimate argument for why altcoins will continue correcting aggressively, as Bitcoin continues a correction towards $4 to complete an 80% reduction in value (currently this is at 70%). This would be similar to the correction of 2014, in order for the Crypto Market to lose over 80% of it's 2018 value (currently the market has lost 78%)
It's however worth noting the oversold Altcoin market began a strong recovery on August 19th 2014 after 9 months of correction, whereas Bitcoin and therefore the overall Crypto Market took until January 2015, totaling 14 months, an additional 5 months.
The altcoin market notably followed with a 68% correction from the 2014 highs until May 2015, while Bitcoin traded predominantly sideaways, gaining more dominance. However, the altcoin bears notably failed to make a lower low that year.
As relevantly, the altcoin market started it's 4 month bull-run initially gaining over 250% from August 19th 2014 to December 23rd 2014, while the pack leader fell another 30% from $475 to $334 before finding support at $200 in January 2015 to complete it's 80% correction.
https://steemit.com/bitcoin/@dragononcrypto/altcoins-bleed-more-than-2014-correction-is-the-reversal-coming
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