Bitcoin's latest series of upward surges that have led it to $ 7,000, have put the last nail in the casket of the crypto carriers and have drastically changed the overall market sentiment for the better.
Now, analysts are watching closely to see how altcoins respond to Bitcoin's latest wave, and many analysts believe that Bitcoin's rally can begin to cool down, so the overall crypt markets can increase.
Crypto Markets Surge as Bitcoin is approaching $ 7,000
Although the crypto markets have experienced a long and dark Crypto Winter, it now appears that spring has begun, with Bitcoin rising to fresh annual heights and several altars that blinks bullish technical signals.
Although the Altmark markets have been caught in a bout of sideways trade since Bitcoin began its upward wave, many cryptos have begun to climb higher today, and analysts believe that many shifts will soon become explosive wards surge.
DonAlt, a popular cryptocurrency trader on Twitter, talked about this opportunity in a recent tweet, explaining that he thinks that longer altcoins will become more profitable in the short term than trying to shorten BTC.
"To all the people who are trying to snipe the Bitcoin top by shorting it: Have you thought about longer altcoins instead? They've been / capitulate and will very likely explode the moment the BTC peaks out. There's more money in it than to shorten BTC in my opinion, "he explained in a recent tweet.
To all the people who are trying to snipe the Bitcoin top by shorting it:
Have you thought about longer altcoins instead?
There is more money in it than shortening BTC in my opinion.
̵1; DonAlt (@CryptoDonAlt) May 11, 2019
Today, many altcoins have already begun to break out, with Ethereum jumping 10% to today's price of $ 191, XRP surging over 7% to today's price at $ 0.322, and Litecoin pumps a whole 16% to $ 88.
"Altseason" may soon be in the crypt market
Although today's gains are absolutely positive, they are far from the huge 100% + gain of many altcoins have seen in earlier beef markets.
Despite this, the altseason – the term many investors use to refer to the period of parabolic gains for cryptographic values excluding Bitcoin – may soon be on the crypto markets.
Josh Rager, another popular Twitter cryptocurrency analyst, talked about the all season in a recent tweet, explaining that he is closely watching Bitcoin's insight into whether an increase in aggregated cryptographic markets is imminent.
"$ ALT Season in Production? – Just look at Bitcoin dominance. Bitcoin dominance fell 10% to 14% during monster altcoin runs in 2018. My strategy for buying altcoins is to see BTC dominance% charts withdraw. An all rally can back BTC% down near 50% +/-, "he noted.
$ ALL Season in production? – Only see Bitcoin dominance
Bitcoin dominance dropped 10% to 14% during monster altcoin runs in 2018
My strategy for buying altcoins is to see BTC dominance charts% withdraw
An all rally could push BTC% back down near 50% +/- pic.twitter.com/M3PAoR1QcC
– Josh Rager 📈 (@Josh_Rager) May 11, 2019
Whether Crypto Markets Are Being able to maintain their new-found upward speed over the weekend is likely to signal whether they are ready to continue increasing higher during the week ahead.
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