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In recent months, crypto badysts and traders have been raging around an apparent off-season, which has seen the price of many altcoins double in value. It was not until the recent Bitcoin rally that the season of change was stopped.
However, according to an altcoins trader and an experienced author, altcoins are still in a phase of accumulation – the longest accumulation phase ever achieved for altcoins – suggesting a profit margin phase could be imminent.
The phase of accumulation on the Altcoin market continues, the longest ever recorded
Since the beginning of 2019, various altcoins, at the front of a Litecoin rally, have recorded double-digit gains. Many have literally doubled in value in just a few weeks after they pulled out of the downside.
The skyrocketing prices of low, medium and large cap altcoins have led many to claim that the entire season was in effect. Even the Google Trends data showed a renewed interest in the Bitcoin brothers.
Related reading | The Crypto Alt 2019 season starts with more than 20 Altcoins doubling in value
However, a new graph shared by Nik Patel, an experienced Altcoin trader and author of the Altcoin manual, indicates that the market capitalization of Altcoin is still rooted in an accumulation phase. According to the chart, the current accumulation phase, which covers the last five years of total valuation of the altcoin by market capitalization, is the longest ever recorded, namely 260 days.
Just one comment on ALTBTC accumulation over the last five years: pic.twitter.com/Y2b9WWLoUr
– Nik Patel (@cointradernik) April 17, 2019
Prior to the current accumulation cycle, the previous one was in late 2016 and early 2017 and lasted 108 days. The rise has helped to create the crypto-hype bubble that appeared in late 2017 and create a deep correction that has turned into the longest bear market in history.
The other season has not started yet, the increase comes after the accumulation
If the altcoin market is really still in the build phase, despite soaring value, the next step could surprise the world in terms of generating profit-generating growth.
So, longer accumulation of alts in the story! Are you leaning toward the biggest season we've ever seen later this year?
– Ansh B (@manofaction_ab) April 17, 2019
Accumulation phases often occur when "smart money" – as it is called – begins to invest in an badet during peak sales or when "blood is on the street", as the late Baron Rothschild would say .
After most accumulation phases, there is an increase phase, in which the value of the badet increases considerably. Once the price of the badet has increased enough, a phase of distribution or sale of the badet will take place.
Related reading | The Altcoin season is here, but what does it mean for Bitcoin domination (BTC)?
If the markup phase has not arrived yet, the glow of an average season we are seeing so far will be just over a flash. But everything depends on what Bitcoin decided to do, because the market capitalization of the altcoin seems to be slowed down by its domination. The domination of Bitcoins was close to falling below the 50% mark for the first time in 2019; however, the recent Bitcoin Rally has caused a rise in dominance and a drop in altcoins.
Selected image of Shutterstock
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