🔥 Altcoins Can Fall MUCH Further: Be Careful!
As seen on the chart, the total altcoin market cap has been steadily falling and making new lows while BTC and ETH are still trading above their respective bear market lows.
Last cycle the total altcoin market cap fell a whopping 92% from the top. If the altcoin were to fall that same percentage during the current bear market it would indicate that alts will fall another 69% on average.
Another way to track the relative weakness in altcoins would be to look at the Bitcoin Dominance. Check my most recent analysis on it below.
Whether alts will fall another 69% remains to be seen. The market is more mature than the previous cycle, plus there are arguably better alts on the market which people will want to keep buying. Nevertheless, I think we can safely assume that the current ~75% decline from the top is not going to be enough.
How far do you think that alts can still fall? Have we bottomed? Share your thoughts🙏.
Last cycle the total altcoin market cap fell a whopping 92% from the top. If the altcoin were to fall that same percentage during the current bear market it would indicate that alts will fall another 69% on average.
Another way to track the relative weakness in altcoins would be to look at the Bitcoin Dominance. Check my most recent analysis on it below.
Whether alts will fall another 69% remains to be seen. The market is more mature than the previous cycle, plus there are arguably better alts on the market which people will want to keep buying. Nevertheless, I think we can safely assume that the current ~75% decline from the top is not going to be enough.
How far do you think that alts can still fall? Have we bottomed? Share your thoughts🙏.
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