Bitcoin’s recent push above $10,000 appears to have ignited a full out bull market, with many altcoins clocking massive gains as they begin seeing parabolic gains that are emblematic of those seen in the early stages of the 2017 crypto bull run.
The state of the market is clearly seen while looking towards major altcoins like Tezos, which has been able to post irrational gains without there being any sort of major fundamental or technical catalysts driving the movement.
Furthermore, it does appear that this ongoing “altseason” is still in its early stages, as data shows that most major cryptos just started outperforming Bitcoin earlier this month, meaning that there is significantly further room to rally.
Altseason Kicks Off as Major Cryptos Begin Seeing Parabolic Rallies
Although the bear market seen throughout 2018 and 2019 led many investors to believe that smaller cryptocurrencies would never see any massive momentum, the past couple of weeks have revitalized the sentiment amongst investors.
Bitcoin – which has been firmly guiding the aggregated crypto market – now appears to have established a firm foothold within the lower-five figure price region, and its overt stability at the moment is leading investors to grow more comfortable entering positions within major altcoins. Read More...