NEW CRYPTOCURRENCY BULL-RUN ALREADY STARTED: SANTIMENT REPORT

[sirty143]

Data analytics platform Santiment has concluded that Ethereum based altcoins might be at the forefront of the next bull market.

THE END OF THE BEAR MARKET DRAWS NEAR

The last two quarters of 2018 have been dominated by talk of a Bitcoin-ETF approval by the U.S. Securities and Exchange Commission (SEC), institutional investment, Bitcoin $6528.84 -0.1% closing the year above $10,000 and a bull market reversal by occurring toward the end of Q4 2018 or Q1 of 2019. It seems that literally everyone is waiting on a market reversal and analysts are on the fence regarding whether Bitcoin’s low volume and record lack of volatility are positive or negative signs.

The analysts at Santiment believe that a bull market is already in the making and the data analytics platform primarily focuses on public blockchain activity and social media sentiment analysis.

Their most recent ‘Signals’ newsletter discusses three key areas they believe support this point of view.

While the current stability of BTC and ETH seem boring to many, Santiment analysts have observed that over the last month “a number of ERC-20 projects completely [broke] their ETH price interdependence” which means many tokens are now marching to their own beat instead of moving in step with ETH price.

For example, yesterday Basic Attention Token jumped 25% after Coinbase announced they will list token and this was after the altcoin rallied 25% on the release of an update for Brave browser about two weeks ago.

According to Santiment, MKR and ZRX also appear to be following the same “ETH decoupling pattern” and this divergence is unique as BAT, MKR and ZRX traditionally mirrored ETH price $219.822 -0.14% action. 

ON-CHAIN ACTIVITY AND SOCIAL MEDIA MENTIONS SPIKE

Santiment also found that each altcoin had strong on-chain activity and the bullish price action was clearly visible on-chain. Their third ‘bullish’ measure incorporates a rather unconventional observation of “behavior analysis” to gauge the “social volume” of each token by the number of mentions across various crypto-associated social media.

ALTCOINS COULD SAVE THE DAY

A combination of these three factors led Santiment analysis to conclude that cryptocurrency projects built on Ethereum blockchain are slowly leading the market into a bull run.

They do concede that market could drop another notch before reversing course but Santiment feels confident enough about the current market set up to conclude that “The bull market has started. It’s not about “when” anymore – it’s about “who.”


Source: BITCOINIST

Do you think altcoins ‘decoupling’ from Ethereum is a sign of the start of a bull market reversal? Share your thoughts in the comments below!

[ZionRTZ]

It’s not about “when” anymore – it’s about “who.”

Oh well, this suggest that not all altcoins will have a bull-run. Some will pump and some will remain stagnant. Better to start watching the market more closely.

[Contagem]

It seems that the authors of the article say that the independence of some tokens and their growth regardless of the price of Ethereum may contribute to the growth of the cryptocurrency market as a whole and create a bullish trend in the market. Ethereum tokens are most often tied to the price of ETH, but thanks to the example of ZRX, MKR, BAT there is a chance that the number of those coins that will grow regardless of the price of Ethereum will increase.

[Jo_chiqui]

Thank you for sharing this. I could not agree more. Yes, many have their attention focuses on ETF approval but that is not what crypto is all about. The current market state i think is slowly doing the pull back motion before the big leap. I am not really leaning towards beating the previous ATH but for sure bull run is just around the corner.

[Zed0X]

It was an interesting read. Altcoins breaking out of their Bitcoin interdependence is what I believe would more likely start a bull run rather than Ethereum. I guess we will just have to see whether the authors are correct in their prediction or not.

[laughingburger]

Data analytics platform Santiment has concluded that Ethereum based altcoins might be at the forefront of the next bull market.

THE END OF THE BEAR MARKET DRAWS NEAR

The last two quarters of 2018 have been dominated by talk of a Bitcoin-ETF approval by the U.S. Securities and Exchange Commission (SEC), institutional investment, Bitcoin $6528.84 -0.1% closing the year above $10,000 and a bull market reversal by occurring toward the end of Q4 2018 or Q1 of 2019. It seems that literally everyone is waiting on a market reversal and analysts are on the fence regarding whether Bitcoin’s low volume and record lack of volatility are positive or negative signs.

The analysts at Santiment believe that a bull market is already in the making and the data analytics platform primarily focuses on public blockchain activity and social media sentiment analysis.

Their most recent ‘Signals’ newsletter discusses three key areas they believe support this point of view.

While the current stability of BTC and ETH seem boring to many, Santiment analysts have observed that over the last month “a number of ERC-20 projects completely [broke] their ETH price interdependence” which means many tokens are now marching to their own beat instead of moving in step with ETH price.

For example, yesterday Basic Attention Token jumped 25% after Coinbase announced they will list token and this was after the altcoin rallied 25% on the release of an update for Brave browser about two weeks ago.

According to Santiment, MKR and ZRX also appear to be following the same “ETH decoupling pattern” and this divergence is unique as BAT, MKR and ZRX traditionally mirrored ETH price $219.822 -0.14% action. 

ON-CHAIN ACTIVITY AND SOCIAL MEDIA MENTIONS SPIKE

Santiment also found that each altcoin had strong on-chain activity and the bullish price action was clearly visible on-chain. Their third ‘bullish’ measure incorporates a rather unconventional observation of “behavior analysis” to gauge the “social volume” of each token by the number of mentions across various crypto-associated social media.

ALTCOINS COULD SAVE THE DAY

A combination of these three factors led Santiment analysis to conclude that cryptocurrency projects built on Ethereum blockchain are slowly leading the market into a bull run.

They do concede that market could drop another notch before reversing course but Santiment feels confident enough about the current market set up to conclude that “The bull market has started. It’s not about “when” anymore – it’s about “who.”


Source: BITCOINIST

Do you think altcoins ‘decoupling’ from Ethereum is a sign of the start of a bull market reversal? Share your thoughts in the comments below!

All the information that you provide is a good read however if you want to make trading decision you should make judgement on your own and all this information can act as supporting to your judgement and not just pure believing.