XRP is in my opinion one of the best coins to measure the altcoin market cycles. As you can see, the baby-blue line, represents the waves. In the chart we can see a lot of similarities between the last cycle and the current cycle we are in right now. The waves are the same, only the price points are different.
The next thing I did was measure the time between the start of the May 2017 bull-run and the top of that run witch is about 21 days. The time between the altcoin run of Januari 2018 low and high was about 25 days. Also i've measured out the time between the all-time highs of both cycles and put that data on the right side of the chart.
Also notice the last wave (green line). I've put the same rectangle on both cycles. So we might see another drop in altcoins before we go into the next cycle. The good thing is that the levels of the last cycle are higher than the cycle before witch implifies we are able to reach new highs (in sats value at least).
We've seen before that if bitcoin goes up, altcoins will lose sats value, but will gain usd value.
So, to keep a long story short, we might get another sats drop on altcoins before we will see another altcoin cycle.
Let me know your thoughts in the comments. Peace.
The next thing I did was measure the time between the start of the May 2017 bull-run and the top of that run witch is about 21 days. The time between the altcoin run of Januari 2018 low and high was about 25 days. Also i've measured out the time between the all-time highs of both cycles and put that data on the right side of the chart.
Also notice the last wave (green line). I've put the same rectangle on both cycles. So we might see another drop in altcoins before we go into the next cycle. The good thing is that the levels of the last cycle are higher than the cycle before witch implifies we are able to reach new highs (in sats value at least).
We've seen before that if bitcoin goes up, altcoins will lose sats value, but will gain usd value.
So, to keep a long story short, we might get another sats drop on altcoins before we will see another altcoin cycle.
Let me know your thoughts in the comments. Peace.
