BTC did hold 20 week MA - This is what happened last time
We are in the 8th week of holding the 20 week MA for Bitcoin after a retest. This is enough time to confidentially say it's confirmed.
Macro-investors agree on the idea that the 20 week MA is one-of, if not *the* key indicator of a bullmarket.
Now, I've marked the erxact candle where BTC had this successful retest of 20 week MA and put an overlay of the total altcoin marketcap. Orange candles is Bitcoin, the rest is Altcoins.
The whole chart is indexed to the first Blue arrow and vertical line, the restest of 20 week MA.
You can clearly see that from that point on, a sustainable divergence started to happen and Alts never looked back. This move is mostly carried by Ethereum and Dash.
There where a few frontrunner altcoins that had significant moves prior this line, but the average altcoin really started to diverge to the upside AFTER 20 week MA hit.
So, since we are 8 weeks in hitting the 20 week MA, we should see the start of the divergence. I'm monitoring total altcoin cap and BTC dominance over the coming weeks and hope to see the clear trend. Again, we had the few frontrunner altcoins that performed phenomenal BEFORE this.. Chainlink and Aave being examples.
In the last cycle, the average Altcoin did outperform BTC by 100% only 3 month after retest of 20 week MA.
3 months later, 100%
6 months later, 500%
12 months later, 500%
18 months later, 4,000%
24 months later, 18,000%
This does not mean we will see the same %-wise run in alts again. But I think we will see an close echo of that.
Best performer is going to be and stay Chainlink. Onchain data and trend+performance over the last 2.5 years confirms.
Fundamental impact is simply highest with Chainlink and I think in 6-12 months time we will hear about asset managers or other companies that accumulated Chainlink/added Chainlink to their portfolio around this time in 2020.
By then, the network should have scaled to hundreds of nodes and cost of running the network reduced by 80-90%
Macro-investors agree on the idea that the 20 week MA is one-of, if not *the* key indicator of a bullmarket.
Now, I've marked the erxact candle where BTC had this successful retest of 20 week MA and put an overlay of the total altcoin marketcap. Orange candles is Bitcoin, the rest is Altcoins.
The whole chart is indexed to the first Blue arrow and vertical line, the restest of 20 week MA.
You can clearly see that from that point on, a sustainable divergence started to happen and Alts never looked back. This move is mostly carried by Ethereum and Dash.
There where a few frontrunner altcoins that had significant moves prior this line, but the average altcoin really started to diverge to the upside AFTER 20 week MA hit.
So, since we are 8 weeks in hitting the 20 week MA, we should see the start of the divergence. I'm monitoring total altcoin cap and BTC dominance over the coming weeks and hope to see the clear trend. Again, we had the few frontrunner altcoins that performed phenomenal BEFORE this.. Chainlink and Aave being examples.
In the last cycle, the average Altcoin did outperform BTC by 100% only 3 month after retest of 20 week MA.
3 months later, 100%
6 months later, 500%
12 months later, 500%
18 months later, 4,000%
24 months later, 18,000%
This does not mean we will see the same %-wise run in alts again. But I think we will see an close echo of that.
Best performer is going to be and stay Chainlink. Onchain data and trend+performance over the last 2.5 years confirms.
Fundamental impact is simply highest with Chainlink and I think in 6-12 months time we will hear about asset managers or other companies that accumulated Chainlink/added Chainlink to their portfolio around this time in 2020.
By then, the network should have scaled to hundreds of nodes and cost of running the network reduced by 80-90%
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.