The start of 2019 saw Bitcoin, altcoins, and the total crypto market cap all reaching their “bottom,” and have all since risen USD in value by 100% or more. But at the start of April, Bitcoin continued to rally while altcoins have only bled out and capitulated, falling most sharply in their ratios against Bitcoin.
Bitcoin has now begun to correct, yet altcoins haven’t regained any lost ground and instead have only fallen further. One crypto analyst believes that sustained correction in Bitcoin could cause the altcoin market to double-bottom, suggesting altcoins will retest previous lows not seen since the start of the year.
Altcoin Double-Bottom Ahead if Bitcoin Correction Continues
Ever since Bitcoin reached $13,800 it has been struggling to regain the bullish momentum that caused a parabolic rally out of bear market lows. The leading crypto asset by market cap has been on a strong climb since early April, that’s devoured all of the capital in the crypto market, causing crypto investors to dump their alt holdings into Bitcoin in fear of missing out on the bull run ahead. Read More at NewsBTC...