Altcoins have been staging a significant rally against Bitcoin in the past couple of days. However, Bitcoin’s own gains in May mean they may have trouble maintaining the month’s positive historical trend.https://reproductivepsych.org/0019wun1
May Historically Altcoins’ Third Best Month Against Bitcoinhttps://www.jollysailorsbrancaster.co.uk/bqmxugstj5d http://champspublichealth.com/uj1hnf3xni
Buy Cbd Oil Brussels The only better months historically have been March and December, both posting average gains of around 30%. Altcoins have made ground on Bitcoin during May in 3 of the past 5 years, so another win this year would give them a 67% hit rate.Buy Phenopen Cbd Canada
Past 48 Hours Have Seen Some Altcoins Gain 21%
True to form, altcoins have been rallying and rallying hard. Led by charges from Ethereum, Binance Coin, Stellar Lumens, and Litecoin, the past few days have seen many alt coin/BTC pairs turn bullish.
http://santondownham.org/y6on6bnss Whilst there have been minor breakouts on individual tokens, we haven’t seen this sort of general trend in the altcoin market for over 9 months. Which should mean that we are on course for another positive May for altcoins, thus cementing the month’s reputation.
Let’s Just Say Bitcoin Hasn’t Done Too Badly In May
In fact, Bitcoin 00 has been pretty healthy since the end of March, thank you very much. In fact, over the last 44 days the total altcoin market cap has fallen as much as 44% in BTC terms. This has caused a bullish divergence for Bitcoin, where price was rising but altcoins fell behind in BTC terms.
However, a bullish divergence is another pretty good indicator that Bitcoin is once more in a bull market. Historically, this type of divergence has occurred significantly more frequently in bull markets than bear markets. A whopping 371 days out the 410 which have witnessed it (or over 90%) have correlated with bullish action.
https://www.environmentalhealthproject.org/2ls40htee3x Assuming that bitcoin can regain $8200, it would be reasonable to assume that the bulls will make it their intention to test around this region.
https://www.hackshed.co.uk/efey4rb0f3e This, of course, would also be good news for altcoins and would likely signal a continuation of ‘altseason.’
http://maketodayhappy.co.uk/83avyfnxvf Are the cryptocurrency markets now entering altseason? Share your thoughts below!
https://www.environmentalhealthproject.org/dx8keagy6 Images via Binance Research, Shutterstock
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