CRYPTO NEWS

Bitcoin price just touched over $9,500, while altcoins have set new lows on their BTC trading pairs. Amidst the crypto confusion, a highly reliable indicator just gave a mixed bag of signals that has only added to the usual state of the cryptocurrency market. Crypto Market Assets Appear to Be Deviating in Correlation Cycle The crypto market is like the wild west. Most anything goes, there are very few laws or rules, and is filled with notorious figures. Speculative assets with nothing by hype often outperform assets with tried-and-true use cases. However, the correlated relationship between Bitcoin and altcoins is usually reliable and gives a sense of normalcy across the asset class. Related Reading | Bitcoin Dominance Reversal At Key Level Points To Sustained Altcoin Rally  Most crypto investors know, when Bitcoin rises, altcoins crash, and when Bitcoin crash, altcoins get decimated. Altcoins most typically shine during phases of Bitcoin trading sideways. Bitcoin’s latest pre-halving pump did as expected and caused altcoins to drop in value. This is highly visible on the BTC trading pairs of top altcoins like Ethereum, Ripple, or Tezos. However, a batch of buy and sell signals across top cryptocurrencies – Bitcoin and altcoins included – indicates that a divergence in this relationship could soon be here. TD Sequential Hands Out Buy and Sell Signals To Bitcoin and Altcoins This divergence suggests that Bitcoin will soon crash, but altcoins will surge. Bitcoin daily price charts have triggered a TD 13 setup sell candle on the cryptocurrency just ahead of its halving.   Interestingly, BTC dominance, however, has also triggered a sell signal coinciding with TD 9 buy signals across most major altcoins. The TD Sequential indicator has been highly accurate in the crypto space. Ethereum, EOS, and Binance Coin all gave the buy signal, and in recent weeks, Litecoin and XRP had similar signals. While most crypto investors are expecting Bitcoin to moon with the halving here, it could be altcoins that really thrive. BTC dominance charts dating back to 2016 show that it was actually the same week as Bitcoin‘s halving that set off the very first altcoin season and set BTC dominance on a downward sloping path. Related Reading | Stellar’s Fractal Shows How Epic the Next Crypto Bull Market Can Be  Once BTC dominance showed its first-ever sign of weakness, altcoins took over and exploded with over 1000% gains in many cases. These assets only further ballooned in value for the two years following, leading to the crypto hype bubble in 2017. At that time, those assets set their record peak prices, then fell into a bear market. Markets are cyclical, and history repeats. Is it time for the altcoin cycle to start again, coinciding with Bitcoin’s halving once again? Featured image by Pixabay

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