Altcoins: it's better not to break the current support at 110B $
This sample chart says alot.
as you can see, Altcoins experienced such bloody season since beginning of 2018 till now, market cap of Altcoins draws it clear, since this chart is the best index that describes the situation and make it easy to build a good overview.
Let me give you some facts that support my idea here:
- BTC lost 85% when dropped from 20k to the bottom (nearly 3000$ on Dec 18) while Altcoins lost almost 92% of its market cap at the same period.
- BTC has not bottomed again at 3000$ while Altcoins went deeper on Mar 20 losing 1.5 B more of the previous bottom.
- BTC cut more than of 50% of its lose as of the current price, while Altcoin cut only 35.8% of its lose as of the current market cap of Alts.
that mean, the performance of Altcoins is bad in comparison to BTC performance, and the chart says that the critical Resistance area is at approximately 110 B market cap.
Alat has successfully broken the resistance and finally freed of its downtrend.
For now, the price is straggling to stay above of the resistance area, and is so important to keep the market cap of altcoins at least above 110B not less, unless Altcoins may suffer of bloody time again.
as you can see, Altcoins experienced such bloody season since beginning of 2018 till now, market cap of Altcoins draws it clear, since this chart is the best index that describes the situation and make it easy to build a good overview.
Let me give you some facts that support my idea here:
- BTC lost 85% when dropped from 20k to the bottom (nearly 3000$ on Dec 18) while Altcoins lost almost 92% of its market cap at the same period.
- BTC has not bottomed again at 3000$ while Altcoins went deeper on Mar 20 losing 1.5 B more of the previous bottom.
- BTC cut more than of 50% of its lose as of the current price, while Altcoin cut only 35.8% of its lose as of the current market cap of Alts.
that mean, the performance of Altcoins is bad in comparison to BTC performance, and the chart says that the critical Resistance area is at approximately 110 B market cap.
Alat has successfully broken the resistance and finally freed of its downtrend.
For now, the price is straggling to stay above of the resistance area, and is so important to keep the market cap of altcoins at least above 110B not less, unless Altcoins may suffer of bloody time again.