Bitcoin and altcoins long-termHi all,
last few days while bitcoin is sideways, some altcoins grew quite nicely, I was talking about such a scenario in my mid-term parsing on bitcoin
If you look at the capitalization of the crypto market as a whole and separately altcoins without BCT and ETH, you can predict, at least approximately, what awaits us until the end of the summer and the end of the year in the cryptocurrency market.
On the altcoins capitalization diagram, you can see that capitalization is in triangle consolidation, and we are in its lower part, at the moment we are in micro consolidation, and under the resistance of downtrend, in case of breakdown we will see the rise of altcoins market by 15-20% till spring values, in case of false breakdown most probably we will renew low, and altcoins will go down, and after that we should look at the market.
On the general capitalization chart, you can see that we are at resistance 1.15T and also that the general cap has formed a GIP pattern, if it works out, the market could potentially rise to 1.75-2-2.1T to the March-April 2022 level, with the bitcoin price potentially going back to the 37-45K value of that period.
Now we have to think about what terms should be for such growth of the crypto market, at the moment from what we know is possible approval of spot ETF of Black Rock and other U.S. investment funds, for example only Black Rock has $ 9 trillion in management, while the total portfolio of the largest funds is about 27 trillion, placing even 2-3% of the total portfolio in the crypto industry, will already give a huge stream of client money.
The SEC should make a final decision on ETFs no later than December 25, 2023.
It should also be taken into account that the Fed continues to tinker with the rate and it is expected at least one more rate hike to the level of 5.5 and possibly two rate hikes to the level of 5.75 until the end of the year. The market does not expect the start of rate cuts until the 1st or 2nd quarter of 2024 at the earliest.
Based on all of the above, I can assume that the main growth of the crypto market may occur in the fall of 2023, as the market will lay these events in the price in advance, trying to be ahead of the curve.
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Total Crypto Marketcap bullrun aheadIf history repeats itself, we should be creeping into a bull market for the Btc halving, as well as the actual utilization of crypto as opposed to speculation into crypto with previous bull runs. Full steam ahead, make sure your on board the train. Keep your eye on the prize. This is not financial advice nor am I a financial adviser lol, just what I see/hope is coming.
CRYPTO TOTAL CAP Expected Bottom Hello traders!
As we have already shown you, we expect a bottom of the crypto market in December 2023 around 530 billion.
This is not financial advice, but the result of our experience and expectations.
Good luck and stay safe and strong!
Kind regards,
Kristian Stoyanov
CEO Rolings Capital
🔥 Predicting The Next Crypto Bull-Cycle Top And DateIn this analysis I want to make a prediction on where the next bull-market will top, and around which date we can expect it to top. Keep in mind that I only use the last two cycles in this analysis, so take this analysis with a grain of salt.
To make the prediction, I use the total marketcap of crypto (TOTAL), which is the value of all Bitcoin and altcoins combined.
As seen on the chart, it appears that the crypto market is following a multi-year rising wedge pattern with a clear support and resistance line. My assumption is that this support and resistance line will guide us during the next cycle.
In the previous two bull-markets, the market topped 77 or 78 weeks after the halving. With the halving being the 16th of April 2024, we can easily extrapolate the date for the next market top: between 13 October (77 weeks) and 27 October (78 weeks) of 2025.
Now that we have the date, we can combine it with the top resistance of the rising wedge pattern. My best guess is that the market will top at this same resistance like before, which will be around the 12 trillion dollar mark. This would indicate that the market will roughly do a 11x from this point onwards towards the top in October 2025.
With a Bitcoin & ETH dominance of exactly the same value as now, it would mean that BTC will top at ~330,000 and ETH at ~20,900. My assumption will be that the dominances of the two biggest cryptos will be much smaller in the future then they are now.
Do you think this analysis is valid? Where and when do you think that BTC will top? Share your thoughts below 🙏
MARKETS week ahead: June 25 – July 1Last week in the news
The US equity market entered into a short reversal on Friday, after a strong push for the last two months. On the other side, the crypto market is back on its track, with more positive news coming from German largest bank, Deutsche bank. Bitcoin is back at $30K level, Ether is following the increased investors optimism, ending the week modestly below $1.9K.
Fed Chair Powell held a speech to a Senate banking panel on Wednesday, touching several currently important topics. He noted that the US economy still holds strong, however, inflation pressures are persistent, in which sense, it could be expected that further rate hikes will occur by the end of the year. He perceives the jobs market still as tight, with some signals that the conditions are loosening. Still, in order to get inflation at a targeted 2%, the US economy would need to slow down, as per his comments. One of the questions imposed by the Senate members was related to de-dollarisation currently occurring in some parts of the world, to which Powell answered that US dollar as a reserve currency is very important to the FED, and he believes that US dollar would remain a world reserve currency also in the future period. One of the important questions for the crypto community was FED`s standing on the crypto currencies, with focus on stablecoins. Powell noted that the FED perceives stablecoins as a form of money and that the US should not allow private money creation.
Mainstream companies are not ready to give up on Bitcoin. Considering the latest developments, they acted like “white knights” for the crypto industry. Two weeks ago, the crypto market stopped its downtrend after it was announced that BlackRock, a largest US asset manager, filed with SEC for its first BTC based ETF. During the previous week Deutsche bank, the largest bank in Germany, announced that the bank had applied to gain a license from local regulators to manage a custody service for digital assets, including crypto currencies. With this move, Deutsche bank is strategically moving toward building up its digital assets and custody business. Markets were more than thrilled with such positive news, and Bitcoin price ended the week swiftly reaching the level of $30K.
At the State of Crypto Summit held in New York last week, a head of strategic partnership in BlackRock, Joseph Chalom, noted the importance of counterparty identification as a critical point in order for large institutions to involve in decentralized finance, or DeFi. Crypto analysts are now discussing potential BlackRock involvement in setting the mainstream for regulation of the crypto industry, considering the size of a company as well as its recent involvement into BTC ETF`s.
News is reporting that one of the largest investment banks in the US, JPMorgan, is bringing its settlement of JPM Coin to the next level with expanding it to euro-denominated payments. With over $300 billion in conducted transactions over the last four years, the JPMorgan institutional clients will now be able to make settlements also in euros using the same blockchain technology.
Crypto market cap
It seems like a new dawn emerged on the crypto market, however, not for all coins. Last few weeks were quite critical, considering moves from the US SEC, aimed to get crypto companies to align with regulation, jeopardizing the whole crypto ecosystem. However, on a positive side was a comment from SEC Chair Gary Gansler, that not all coins on the market fall under securities, mentioning that there are only few which fall under the term of real crypto currencies, without mentioning which coins are in question. From two weeks ago, the market started to get a glimpse of what he meant with his statement, when the largest asset manager in the US, BlackRock, filed with the SEC for its first BTC exchange traded fund. During the previous week, the crypto market regained confidence when the largest German bank and important player on the world scene, Deutsche bank, applied with the German regulator for the license to conduct a custody service for digital assets, including crypto currencies. This news pushed the crypto market to the upside, gaining on the weekly level total $108B in market capitalization, increasing its cap by 10%. Daily trading volumes were increased to the level of $80B on a daily basis, from $60B traded the week before. Total crypto market capitalization increase since the beginning of this year jumped to 51%, where it has added a total $388B to the market cap.
Total crypto market capitalization gained $108B during the previous week, still, almost 90% of this amount belongs to Bitcoin and Ether. BTC was the winner of the week, by increasing its cap by $80B or 15.6%. Ether followed the up-path with a gain of $19B or almost 9% during the week. Other coins gained significantly but in relative terms. Bitcoin Cash was also in the spotlight of investors, as it managed to gain $1.5B or even 74% w/w, and was a winner of the week when it comes to percentage increase in value. Some other significant gainers were Ethereum Classic, with an increase in the market cap of almost 19%, OMG Network was up by a significant 37%, Litecoin, Link, NEO and Monero were up by more than 14% w/w. Binance Coin was in the group of rare losers of the week, as its value dropped by 4.2%, losing $1.6B in market cap.
Surprisingly, Tether lost 0.4% of its coins in circulation, decreasing its market cap by this amount. Major changes in circulating coins relates to XRP, which gained 0.5% in circulating coins, while Polkadot`s and Filecoin`s coins were up by 0.3%
Crypto futures market
The optimism from the spot market was reflected also on the crypto futures market, however, not with equal expectations for BTC and ETH. Based on the long term price moves for ETH, it seems that investors are still reluctant to be more optimistic on the future prices of this coin. During the previous week, ETH short term futures were up by around 14% on average with futures maturing in December this year ending the week at level of $1.923. Longer term futures were up by more than 13%, where last trade for December 2024 futures was at price $1.962. Expectations of investors are mixed, but evidently, there is no strength to push longer term prices to the higher levels. The price difference between futures maturing in June this year and those maturing in December 2024 is only 39 points.
As for BTC futures, the situation is a bit different. Short term futures were traded higher by more than 18% compared to the week before, with futures maturing in December this year ending the week at level of $31.185. Long term futures were traded more than 20% higher on the weekly basis, with December 2024 ending the week at level of $32.425. The market continues to make a significant difference on the price expectations between BTC and ETH.
Total Crypto Market Bullish AF!This chart looks extremely BULLISH. Im expecting the Total Crypto Market to move up pretty significantly if the weekly closes tonight above 1.10T. If this happens i expect a push to the 1.4-1.5T market cap. Some alts will see close to a 40% gain from this move. Its time to pay attention!!!
TOTALMARKETCAP :CRYPTOHi Guys Hope you well.
As it was said, the downtrend channel was broken and made a significant growth. Now I am waiting to reach the daily supply area, after which we can move towards the trend again. Just note that due to the dominance of Bitcoin, the status of other altcoins is different from Bitcoin.
SecondChanceCrypto
⏰25/JUNE/23
⛔️DYOR
Always do your research .
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THIS BREAKOUT WILL CONFIRM THE BEGINNING OF BULL MARKET!!Hello everyone, if you like the idea, do not forget to support it with a like and follow.
Welcome to this Total Market Cap update. Looks very interesting.
As you see in the chart, Total M.cap is verge on the breakout in the weekly time frame. Forming a descending triangle in the weekly time frame. If it gives a clear breakout this week, then this will be the confirmation of the beginning of a bull market. Or if we get a rejection from here then we see some correction in the market.
As of now, wait for a confirmed breakout, and meanwhile, just do quick scalps.
What do you think about this?
Do you also think that the bull market will begin from here or do you think that we see another big drop before the bull run?
Share your views in the comment section.
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CRYPTO TOTAL CAP - Printing right shoulderHello traders.
In my opinion CRYPTO TOTAL MARKET CAP printing the right shoulder of "Head and shoulders" pattern. We're expecting to be fully print by the mid of July.
So, it's possible to see down trend after that.
Be safe and be ready.
Good luck!
Not financial advice!
📈 Everything Crypto Is Crashing, We Continue 100% BullishEverything is crashing now as it is obvious yet the TOTAL Cryptocurrency market capitalization stays above 1T.
It is also currently trading higher compared to March's low.
Here we can spot the same 4 Steps Pattern we looked at on several Altcoins.
#1 Is the initial bullish breakout.
#2 & #3 Is the first low followed by a higher low.
#4 Will be the next bullish wave.
We continue on track.
Weak hands are being removed.
The market is under attack... But Bitcoin will survive!
Cryptocurrency is here to stay!
Namaste.