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The Bitcoin market is currently crashing and taking the whole Altcoin market down with. But how long will this bearish correlation last and when can we expect the Altcoin market to break free and started heading back to the top?
These questions and more are what I will be answering to the best of my knowledge in this Bitcoin analysis.
The Crashing Altcoin Market When Will It Stop?
The crash in the Altcoin market as been very massive with a lot of Altcoins already giving back all the gains they accumulated during the last Altcoin market bull run that lasted for weeks.
I believe this crash will only continue and even intensify as far as the Bitcoin market remains bearish. This gives Altcoin traders a lot of shorting opportunities to take advantage of in the coming days.
Should You Be Buying The Deep In Altcoin Right Now?
The simple answer to this is NO!. Buy Altcoins at this current lows will only expose you to further decline in price that might occur in the next few days.
Instead, what you should be looking for in the various Altcoin assets you trade are important support regions you expect the price to respects, hold, and bounce off of in the future.
Once you find these areas of support, you can then begin looking for the bearish trend to slow down and start showing high-quality price reversal patterns in this region to enter a potential buy trade setup.
While at this, it is important to also keep an eye on the Bitcoin trend and the Bitcoin Dominance chart. This is very important because the fate of the Altcoin market is tied to the price movement of Bitcoin.
It can also serve as a great indicator for further confirmation of the bullish price reversal in the Altcoin market and the start of the Altcoin season.
What Market Condition Is The Best Time To Buy Altcoins?
Over the years, history as shown that the Altcoin market performed the best whenever Bitcoin is consolidating. During these periods of consolidation, we usually see a large amount of influx of traders into the Altcoin market.
This huge influx of funds usually brings about massive spikes in volatility and Altcoin prices. This in turn provides traders with some of the best opportunities to long the Altcoin market and make huge returns.
However, once the Bitcoin market makes a breakout of any kind either to the upside or downside, we usually see the Altcoin market crash.
Waiting for the Bitcoin market to begin to range before entering the Altcoin market can really help you improve your profitability when it comes to Altcoin trading.
For a list of the top best Altcoins to put on your watch list and trade during this coming bull run, check out my Top 25 Cryptocurrencies by Market Capitalization
To gain more information on how to partake in this coming Bitcoin Bull run and trade this cryptocurrency, you can read my How To Trade Bitcoin Guide. You can also check my top list of Best Bitcoin Exchanges To Trade With.
