[UPDATE ALT COIN MARKET] ALTS WOW! Are you seeing what I see?
In this video, I'm analyzing the altcoin market by dividing the market cap by the M2 money supply. I also focus on the type of growth we had, the RSI and the timeframe of the cycle.
As you can see:
- M2 shows that we had a great re-test of the previous 2018 all-time high
- More sustainable growth and not a blow-off top vertical log growth like in 2018
- 2021 RSI showed a bearish divergence which usually anticipates a correction and not the end of a cycle. 2018 RSI showed a completely different situation.
- The previous bull market lasted more than 1 year while the current one less then 7 months
Bonus: we did not break the all-time high of the BTC dominance yet (look at my related idea)
As you can see:
- M2 shows that we had a great re-test of the previous 2018 all-time high
- More sustainable growth and not a blow-off top vertical log growth like in 2018
- 2021 RSI showed a bearish divergence which usually anticipates a correction and not the end of a cycle. 2018 RSI showed a completely different situation.
- The previous bull market lasted more than 1 year while the current one less then 7 months
Bonus: we did not break the all-time high of the BTC dominance yet (look at my related idea)
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