I keep mentioning that just as new lows can be created (just like it happened throughout the recent bear market), new highs can also be created, and this is the latest example that confirms this.
RVNBTC broke its all-time high from October 2018 and has gained over 530% in value.
This is a very interesting and telling development that gives us a clue about what can happen to other altcoins in the near future. This entire market is connected/linked, so seeing this type of action reminds us that similar growth can happen to other altcoins as well.
I believe that the bullishness we are seeing is just the beginning of something much, much bigger, which will take the entire year to develop (2019) and beyond (2020+).
This same type of action happened back in 2017 before the cryptocurrency market bull run and the one before that. First, you would see an altcoin double, triple and even quadruple in size. When you thought that it was over because of too much growth, it would repeat the same process again and finally, again which is the end of 2017 and beginning of 2018 where most of the cryptocurrency market peaked. Most altcoins ended up doing 30-50x growth.
After seeing this, I immediately moved my focus from Bitcoin ( BTC ) to Altcoins (smaller market cap.) because of their huge growth potential.
Yes, Bitcoin is awesome, but if you are trading/buying to make money, then the altcoins are better. You can earn way more by trading these, and even more when you sell for fiat as Bitcoin will also increase in price. So you end up with a cumulative effect.
So get ready for the ride of your life... but remember, this is not a piece of trade advice.
Now... Feel free to hit like.
P.S. The wave count on the chart above is meant for illustration purposes only and does not reflect my view of Ravencoin ( RVNBTC ) future price. I focus on bottomed out, low risk, altcoins. My main strategy is to buy low, sell high and overall, keeping it simple. My trade ideas are intended for all public and especially beginners. Only my BitMEX trades are for advanced traders only. Thanks a lot for reading.
Previous Ravencoin ( RVNBTC ) trade: