Bitcoin dominance cycle suggests the 2017 crypto rally could repeat
Bitcoin dominance patterns are showing similar lows and an eerie resemblance to 2017. So what does this suggest for BTC price? For the purposes of historical comparison, it’s also worth noting that the pattern of the dominance chart currently looks much like it did during the earlier part of 2017.As the markets have gone into meltdown since May 12, Bitcoin (BTC) dominance has fluctuated dramatically, bucking 2021’s prevailing trend. Before the sell-off started in earnest, BTC dominance had been falling pretty steadily from around 70% in January to a low of under 40% by the time the crash....
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Crypto Analyst Nicholas Merten recently said in a video analysis session on YouTube that Ethereum’s price is poised to explode. Merten pointed out that price analysis really isn’t the reason that the number 2 cryptocurrency is set to explode, but what the market dominance shows that actually shows this. This shows through when the cryptocurrency market dominance is measured. Merten believes that current market trends are very similar to what was done in the market back in 2017. Going back to when the last bull market had started in 2017. Before fizzling out and turning into a....
A quant has pointed out parallels between the current and the 2017 Bitcoin cycles, something that may contain hints about what’s next for the asset. The Current Bitcoin Cycle Has Shown Interesting Parallels With The 2017 Cycle As explained by an analyst in a CryptoQuant post, there have been five interesting recent events in the current cycle that are similar to what was seen in the 2017 cycle. The 2017 cycle hit its top in December of that year, while the current cycle hit its top back in November of 2021. The entirety of these cycles isn’t relevant in the context of the....
Crypto enthusiasts expected Bitcoin to pick up momentum in 2020 thanks to the asset’s block reward halving mechanism. At best, investors anticipated a repeat of the 2017 rally, but the law of diminishing returns made such a scenario an unlikely reality. But instead, the current uptrend is now the second most powerful in the cryptocurrency’s […]
A crypto analyst has presented a 39-month analysis that could determine when the XRP price will rally to a new all-time high. The analysis marks a return of this trend, which could see XRP rise as high as $1,000. The 39-Month Cycle Pseudonymous crypto analyst NeverWishing on TradingView has presented a rather convincing 39-month cycle trend that often ends with the XRP price seeing a significant rise. The last time this trend was completed was back in mid-2020 just before the 2020/2021 bull market began. When this trend was marked three years ago, it ended with the XRP price rallying from....
The combined value of all cryptocurrencies just hit $1 trillion as Bitcoin and Ether continue to surge. The total cryptocurrency market capitalization — a major bellwether for the overall health of the digital asset class — broke $1 trillion for the first time ever at 19:00 ET on Tuesday January 6th. Bitcoin briefly topped $37,000 around the same time, marking a new record high.Measured by market cap, the crypto asset class has virtually doubled over the past month as Bitcoin (BTC) broke out to new all-time highs and Ether (ETH) cleared $1,100 for the first time in three years. Combined,....