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Altseason may not be here yet, but we could be due for a bounce by jrcornel

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· @jrcornel ·
$66.16
Altseason may not be here yet, but we could be due for a bounce
# It may not be euphoria time just yet, but we might see a nice bounce for altcoins in the near term.

Altcoins have been getting crushed in terms of BTC basically ever since peaking in early 2018.

The USD drop was bad, but in terms of BTC, it's been even worse in most cases...

However, that may be about to change in the very near term.

# Altcoins due for a bounce?

Check out the altcoin weekly chart:

https://i.postimg.cc/pT5RLHHr/D-vf-Hno-U0-AASSd-X.jpg

(Source: https://twitter.com/BTCFisherman/status/1147255855223435265)

That green line is the 200 week moving average.

Prices dipped down and touched it the other day and have bounced off it nicely.

Often the first pullback to the 200 MA results in a tremendous bounce, if not outright reversal.

I think, at the very least we are going to get a bounce here.

# One caveat...

Remember, this chart is in terms of BTC, so the altcoin market could gain on btc if they just don't go down as fast as btc or if they go up more than btc.

So, before we get too excited, this doesn't quite guarantee they will gain significant ground in USD terms, though I think they will as well.

Stay informed my friends.

-Doc
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@blake.letras ·
I've been biting my nails over my ETH and MKR... I keep thinking they are going to explode but they just don't . MKR confuses me a lot. It has captured 71% of the DeFi market and its poised for huge gains in a speculator's market. Yet, that price doesn't budge past $750...

I am sure that MKR is going to blast through the rankings once multi-collateral is launched. That has to put MKR where I think it belongs in the list (within top 10). 

Still sitting on my hands over that $600 ETH too. Its okay though, because I believe the market is showing that DeFi is going to be won by Ethereum long term. Everything but the recent Tezos news is good for an Ethereum DeFi world. 

Cosmos' ATOM is majorly undervalued unless everyone just assumes Pokadot is going to destroy it. It is a breeze to build a quality blockchain on Cosmos and when I took a deep look at it I realized it really was a threat. No, it can't really replace Ethereum, there are use cases for Ethereum that Cosmos can't do, but Cosmos is going to eat Ethereum's lunch on all the private blockchain adoption (it seems). 

Loom is ridiculously low priced as well. So many altcoins are on sale right now. I don't know any project working harder than Loom to accommodate and support developers.
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@jrcornel ·
$1.10
I like a lot of those as well. What are you thinking in regards to steem?
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@tts ·
$0.78
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@jrcornel ·
$1.08
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@justtryme90 ·
I hope we are due for a bounce. Alt Winters are so borrring.
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@jrcornel ·
$1.06
Not much fun are they...
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@corndog54 ·
Hope you are correct Sir 🧐
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@jrcornel ·
$1.39
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