My Authors
Read all threads
Thread: Where are we in the 2nd #altcoin pump cycle? How much longer do we have to trade $ALTS? What is the typical market history like? As alt traders, we must be aware of the conditions and environment that are strong for trading alts (namely Alt/btc pairs). $ETH $XRP $BTC
I also wrote / charted these charts on the weekend so they may be a few days old. The same principles still apply though IMO. Check out the next two threads before reading this one, I think it'll give better background as to where I'm coming from.
Here's a thread I wrote a few weeks ago. I have many of the same charts w/ some updates:

I also was fairly certain that we'd see a secondary alt pump that we're seeing now back in March due to $ETH:

Ok so what's changed over the last 2 weeks? IMO alts have pumped well. I'm trying to figure out how much longer we have for this nice environment. I believe the main factor will be $ETH. #Ethereum has long been the leader for alts. Strong ETH= strong altcoin market.
How's $ETH looking now? Some notes on chart. The bottom line is: If #Ethereum does well, alts will do well. We have a huge lvl coming up, .028. If that breaks, we are going to see a further alt party. If not (which I predict), we will see alts retrace HARD in the summer.
The traditional timeline for this springtime alt pump is usually March-late April. $ETHBTC starts to retrace around late May after its secondary spring pump.
So, I basically think that we're about to see 1 more month of strong moves for alts rn. In order for that to happen, $BTC has to cooperate. How is #Bitcoin looking? Notes on chart.
How about crypto market cap? Two scenarios IMO. DOOM scenario would basically mean all of crypto goes to shit (with $BTC falling).
Some notes on the altcoin MC. Same ss posted in other thread. I believe summers are painful for altcoins.
In addition to the MC, here are notes on the #Bitcoin dominance chart. Again, 2 scenarios.
Which alts will do well over the coming weeks? $XRP hasn't pumped hugely yet. #Ripple will likely do well IMO.
Why can't you just trade lvl to lvl with alts? Well, you can, but alts are such a correlated market that they all generally pump or dump simultaneously. It's best to go hard when they are pumping strong and then go risk off when they all dump in the summer.
Tl;dr summary: I believe $ALTS will pump for 1 more month, with mid caps like $ADA, $DOGE, etc pumping hard. I believe that ETH will ultimately make a LH like the previous 2 cycles. If ETHBTC breaks .028, I believe alts will run even longer and we have a longer cycle this time.
All of this is with the understanding that $BTC doesnt shit the bed or do something insane. If BTC goes up to 12k, I believe alts will have a shorter cycle. All in all, It's best to be cautious rn but I still think that we have 1 more month of altcoin trading left.
I plan on selling all my altcoins by summer and expecting a big retrace. I'd assume that btc volatility will be higher around that time, as it usually is. Thanks for reading, interested in hearing any thoughts on this.
Missing some Tweet in this thread? You can try to force a refresh.

Enjoying this thread?

Keep Current with Altcoin Sherpa

Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

Twitter may remove this content at anytime, convert it as a PDF, save and print for later use!

Try unrolling a thread yourself!

how to unroll video

1) Follow Thread Reader App on Twitter so you can easily mention us!

2) Go to a Twitter thread (series of Tweets by the same owner) and mention us with a keyword "unroll" @threadreaderapp unroll

You can practice here first or read more on our help page!

Follow Us on Twitter!

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3.00/month or $30.00/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!