Altcoins Still In A Bear Market, But What About Bitcoin?

THELOGICALINDIAN - Recently the crypto bazaar abhorrence and acquisitiveness basis hit its everyman point in history admitting Bitcoin amount trading aloft 10000 and at that point had yet to breach bottomward The abhorrence was mostly apprenticed by altcoin holders who accept been affairs any actual accoutrements at a abundant accident at an alarming rate

While alike altcoins did assemblage in aboriginal 2025, it’s acceptable more bright that the crypto industry is still in a buck market, except for Bitcoin. But with altcoin affect so low, and Bitcoin alpha to breach down, it’s difficult to say if Bitcoin’s abutting balderdash bazaar has begun, or if it’ll acknowledgment to a buck trend abundant like its crypto cousins accept over the aftermost few months.

Altcoins Continue The Crypto Bear Market Trend

At the acme of the crypto bubble, crypto investors bought up altcoins in hopes of award the abutting Bitcoin and to get in at the arena attic of what best believed to be a above abstruse revolution. But those hopes accept back disappeared, and those that got bent up in the crypto advertising accept continued been ashore with abundant accoutrements that accept alone gotten added and added as time goes on.

Altcoin investors accept additionally had to watch a accessory assemblage occur, alone to fail, and angle by while Bitcoin captivated any actual basic altcoin had larboard in their bazaar caps. It’s acquired acute panic, despair, and abhorrence in altcoins holders, with abounding axis BTC maximalist as a result.

Confirming the bearish trend continuation, as one crypto analyst credibility out, about the absolute crypto bazaar including the top ten crypto assets by bazaar cap are all trading beneath their 200DMA (displaced affective average).

Just saw @CoinDeskMarkets column on the top 10 cryptos actuality beneath their 200 DMA.
Pretty abundant the absolute crypto bazaar is beneath the 200 DMA, except for Bitcoin.
You can confidently say best of crypto appropriate now looks like it had a assemblage in a buck market, besides Bitcoin; so far.
— Cantering Clark (@CanteringClark) August 29, 2019

Not alone are altcoins trading beneath their 200 DMA, but they’re additionally at some of the everyman credibility they’ve been in years in agreement of their BTC ratios, with BTC ascendancy continuing to trend college and higher. Most are already bottomward over 80-90% of their best highs, and may never afresh ability those amount levels – alike if Bitcoin were to ability $100,000 per BTC.

Could Bitcoin Return to a Bear Market, Or Is This Just a Correction?

Bitcoin is the alone crypto asset that isn’t trading beneath its 200 DMA, but Bitcoin amount has alone aloof amorphous to breach down. Some analysts accept that it’s the affairs burden and affect surrounding altcoins that is allowance to annoyance bottomward the baron of crypto.

Bitcoin has been abundantly bullish throughout 2019, partly apprenticed by the asset’s safe-haven narrative in the face of growing all-around bread-and-butter turmoil. Bitcoin amount has risen alongside gold, giving it added weight with institutional investors. Couple that with crypto investors affairs up the basal – who are abiding bullish on Bitcoin and apprehend prices of $100,000 to millions in the approaching – in abhorrence of missing out and accepting to buy at college prices, and it was the absolute compound for a parabola.

But that emblematic assemblage has continued been broken, and Bitcoin price has started to attempt and fall. For now, it’s too aboriginal to say if the first-ever crypto asset will acknowledgment to a buck market, but if altcoins are any indication, there could be more affliction for all crypto investors – including Bitcoin holders – in the canicule ahead.