ALTCOIN SEASON called off? This chart is quite concerning
Crypto Cap excluding 
BTC chart—essentially the total market cap of all altcoins, including 
ETH, 
XRP, and everything else except Bitcoin.
#
Another 3%-5% down, and our beloved (or most hated) altcoins will hit the Golden Pocket. Will this be the best time this year to load up before the inevitable "altseason"? Maybe.
Probably. Or maybe not—depending on the geopolitical situation, or rather, the geo-economic situation. Mr. President has decided to wage his trade war with most of the world.
I’m not going to pretend to know what’s going to happen tomorrow on that front. Maybe China retaliates with its own tariffs—nobody knows.
In my 12 years in crypto, I have never seen this level of uncertainty. This is madness. All I can do is sit here and analyze the impact off the charts.
The bullish pennant has been invalidated, and that pattern was supposed to give us explosive price action—to the upside. That’s canceled. Based on this chart and many others.
I still believe many cryptos will deliver fantastic returns this year. But a general altseason, where everything pumps?
Forget it. Those days are over. Selection of coins will be critical from now on.
That’s my thesis for the rest of the year. Not rushing into any more buying for now—heading to bed instead. Stay safe, folks, and maybe, just maybe, don’t throw any more of your funds into shitcoins. Most of them will die off, slowly but surely. 👽💙
BTC chart—essentially the total market cap of all altcoins, including ETH, XRP, and everything else except Bitcoin.#
Another 3%-5% down, and our beloved (or most hated) altcoins will hit the Golden Pocket. Will this be the best time this year to load up before the inevitable "altseason"? Maybe.
Probably. Or maybe not—depending on the geopolitical situation, or rather, the geo-economic situation. Mr. President has decided to wage his trade war with most of the world.
I’m not going to pretend to know what’s going to happen tomorrow on that front. Maybe China retaliates with its own tariffs—nobody knows.
In my 12 years in crypto, I have never seen this level of uncertainty. This is madness. All I can do is sit here and analyze the impact off the charts.
The bullish pennant has been invalidated, and that pattern was supposed to give us explosive price action—to the upside. That’s canceled. Based on this chart and many others.
I still believe many cryptos will deliver fantastic returns this year. But a general altseason, where everything pumps?
Forget it. Those days are over. Selection of coins will be critical from now on.
That’s my thesis for the rest of the year. Not rushing into any more buying for now—heading to bed instead. Stay safe, folks, and maybe, just maybe, don’t throw any more of your funds into shitcoins. Most of them will die off, slowly but surely. 👽💙
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.