Home Ethereum Crypto Investor Declares Alt Season as Litecoin, Ethereum and EOS Come Alive

Crypto Investor Declares Alt Season as Litecoin, Ethereum and EOS Come Alive

6 min read

  • A well-liked host and crypto investor has made a bullish assertion on altcoins.
  • Ran NeuNer’s tweet was met with heavy criticism.
  • Nevertheless, it’s tough to disclaim that enormous market cap cash are displaying indicators of power.

It’s not a secret that the majority various cash or altcoins are depending on bitcoin. Wherever BTC goes, virtually each different crypto token follows. That’s very true for giant market cap cash such as Ethereum, Litecoin and EOS.

A rating of 1 signifies excellent correlation. | Source: CoinMetrics

Bitcoin’s recent resurgence is helping drag many altcoins out of bear territory. Ran Neuner, the widely-followed founder of Onchain Capital, appears to have spotted this emerging trend. The host of Crypto Trader recently tweeted one of the most bullish statements in cryptocurrency investing.

Ran NeuNer: ‘It’s Alt Season’

Yes, you read that right. The controversial Crypto Twitter personality appears to have an extremely rosy outlook on digital coins, many of which are down by over 90%. It’s not surprising that his remark has been met by heavy skepticism.

For instance, user 99BillionBlindSheep found Neuner’s tweet hilarious. The pseudonymous account doesn’t think that a 5% rally is enough to conjure the term “alt season.”

One of Neuner’s followers who’s not buying that alt season is here. | Source: Twitter

Others noticed the host’s tweet as a sign that the highest is in. Instead of feeling bullish, these individuals have been disenchanted to have come throughout NeuNer’s tweet.

Many merchants are taking NeuNer’s tweet as a sign to quick. | Source: Twitter

Popular Elliott wave dealer Benjamin Blunts additionally doesn’t share NeuNer’s outrageous optimism. When requested if alt season has already began, the dealer sarcastically instructed CCN,

I believe alt season is extra prone to high out very quickly.

In different phrases, the dealer expects the bounce skilled by many altcoins to lose steam. Eventually, digital property such as Litecoin, EOS, and Ethereum would doubtless resume their downtrend.

Ethereum, Litecoin and EOS Are Showing Signs of Strength

While many merchants aren’t followers of Ran NeuNer’s bullish tweet, it’s tough to disclaim that some giant market cap cash are flashing bullish alerts together with bitcoin. Trader Scott Melker, AKA The Wolf Of All Streets, famous that some high ten cash together with Ethereum, Litecoin and EOS seem to have damaged out of their long-term downtrends of their USD pairs.

Large-cap cash are poised to finish their downtrend. | Source: Twitter

Scott Melker is just not alone in having a bullish view on the highest ten cash. The Crypto Monk can also be seeing encouraging developments on giant cap crypto tokens. The analyst mentioned {that a} sure basket of enormous cap cash have already damaged out and transformed a former resistance into assist. For now, it seems that the index is consolidating.

The Crypto Monk can also be bullish on giant cap cash. | Source: Twitter

Do the bullish breakouts point out that alt season has already kicked off? I believe it’s too early to inform. For now, it’s doubtless that these cash will solely go as far as bitcoin goes. There’s a motive why bitcoin is dubbed as the king of cryptocurrencies.

Disclaimer: The above shouldn’t be thought of buying and selling recommendation from CCN. The author owns bitcoin and different cryptocurrencies. He holds funding positions within the cash however doesn’t have interaction in short-term or day-trading.

This article was edited by Sam Bourgi.

Last modified: January 22, 2020 11:39 PM UTC

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