{"id":562543,"date":"2020-07-11T18:09:16","date_gmt":"2020-07-11T16:09:16","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=562543"},"modified":"2020-07-11T18:09:16","modified_gmt":"2020-07-11T16:09:16","slug":"bitcoins-low-social-dominance-a-bullish-eth-btc-pair-alt-season","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/bitcoins-low-social-dominance-a-bullish-eth-btc-pair-alt-season\/","title":{"rendered":"Bitcoin&#8217;s Low Social Dominance &amp; a Bullish ETH\/BTC Pair = Alt Season"},"content":{"rendered":"<p><strong>Quick take:<\/strong><\/p>\n<ul>\n<li><strong>Bitcoin has been in a state of continuous sideways movement since early June.\u00a0<\/strong><\/li>\n<li><strong>Social media dominance of BTC has been dropping and could point to an alt season.\u00a0<\/strong><\/li>\n<li><strong>A bullish ETH\/BTC chart hints of altcoins gaining in the crypto markets.\u00a0<\/strong><\/li>\n<li><strong>Additionally, the Shit-coin Perpetual contract on FTX recently hit a new All-Time high.<\/strong><\/li>\n<\/ul>\n<p>Bitcoin (BTC) continues to be in a state of Limbo as the King of Crypto is yet to provide proper signs of its next move. From around the 3rd of June, Bitcoin <a href=\"https:\/\/en.ethereumworldnews.com\/bitcoin-btc-could-reclaim-10k-in-49-days-crypto-analyst\/\" target=\"_blank\" rel=\"noopener noreferrer\">has not gone above $10,000<\/a> neither dropped below $8,800. The trading range of BTC <a href=\"https:\/\/en.ethereumworldnews.com\/bitcoins-btc-bollinger-band-squeeze-points-to-a-major-move-soon\/\" target=\"_blank\" rel=\"noopener noreferrer\">has tightened<\/a> in the month of July with Bitcoin&#8217;s price oscillating between $9,500 and $8,800.<\/p>\n<h2>Bitcoin&#8217;s Social Media Dominance is Dropping<\/h2>\n<p>The <a href=\"https:\/\/en.ethereumworldnews.com\/bitcoin-btc-crypto-briefly-knocked-down-by-new-covid19-cases\/\" target=\"_blank\" rel=\"noopener noreferrer\">lack of volatility from Bitcoin<\/a> has led to a drop in BTC&#8217;s dominance on social media. Bitcoin and Crypto Analyst, Mati Greenspan, highlighted this fact via the following tweet that also concluded that an Alt Season was in the pipeline.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Bitcoin social dominance at it&#39;s lowest levels since January. Check out that downward spiral. <a href=\"https:\/\/twitter.com\/hashtag\/ALTSEASON?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">#ALTSEASON<\/a> <a href=\"https:\/\/t.co\/9h3bRzjQ9K\" rel=\"nofollow\">pic.twitter.com\/9h3bRzjQ9K<\/a><\/p>\n<p>&mdash; Mati Greenspan (tweets \u2260 financial advice) (@MatiGreenspan) <a href=\"https:\/\/twitter.com\/MatiGreenspan\/status\/1280936743617925120?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">July 8, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2>A Bullish ETH\/BTC Points to Altcoins Thriving in the Crypto Markets<\/h2>\n<p>Furthermore, legendary Commodities and Crypto trader, Peter Brandt, shared his recent analysis of ETH\/BTC where he pointed out that Ethereum should experience a significant breakout to 0.03276 BTC. Additionally, Mr. Brandt explained that most altcoins should gain on Bitcoin in the near future. Peter Brandt&#8217;s analysis can be found in the following tweet.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Significant breakout in <a href=\"https:\/\/twitter.com\/search?q=%24ETHBTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">$ETHBTC<\/a> with target of .03276 <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">$BTC<\/a>  <a href=\"https:\/\/twitter.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">$ETH<\/a> Most alts should gain on <a href=\"https:\/\/twitter.com\/hashtag\/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">#bitcoin<\/a> in near future <a href=\"https:\/\/t.co\/tYRJk869GN\" rel=\"nofollow\">pic.twitter.com\/tYRJk869GN<\/a><\/p>\n<p>&mdash; Peter Brandt (@PeterLBrandt) <a href=\"https:\/\/twitter.com\/PeterLBrandt\/status\/1280954525801684994?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">July 8, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2>Altcoin Market Cap Continues to Increase<\/h2>\n<p>The market capitalization of altcoins is usually the best visual measure of the state of an Alt Season. Checking the daily CryptoCap chart courtesy of Tradingview.com, it can be observed that the value of altcoins has been gaining gradually since the Coronavirus crash of mid-March.<\/p>\n<figure id=\"attachment_562546\" aria-describedby=\"caption-attachment-562546\" style=\"width: 1024px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/07\/Altcoin-MarketCap-Jul-11th.jpg\"><img class=\"wp-image-562546 size-large\" src=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/07\/Altcoin-MarketCap-Jul-11th-1024x497.jpg\" alt=\"\" width=\"1024\" height=\"497\" srcset=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/07\/Altcoin-MarketCap-Jul-11th-1024x497.jpg 1024w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/07\/Altcoin-MarketCap-Jul-11th-300x146.jpg 300w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/07\/Altcoin-MarketCap-Jul-11th-770x374.jpg 770w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/07\/Altcoin-MarketCap-Jul-11th-240x117.jpg 240w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/07\/Altcoin-MarketCap-Jul-11th-717x348.jpg 717w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/07\/Altcoin-MarketCap-Jul-11th-150x73.jpg 150w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/07\/Altcoin-MarketCap-Jul-11th.jpg 1046w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" title=\"\"><\/a><figcaption id=\"caption-attachment-562546\" class=\"wp-caption-text\">Altcoin marketcap, minus Bitcoin<\/figcaption><\/figure>\n<h2>Shit Coin Perpetual Contract on FTX Hits an All-Time High<\/h2>\n<p>Additionally, the FTX Shit-coin Perpetual Contract has officially hit an all-time high value of $1,045, and continues to gain. This achievement was highlighted by the CEO of the FTX exchange via the following Tweet.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">It&#39;s finally here.  The moment we&#39;ve all be waiting for.  The culmination of our collective journey into cryptography and economic engineering.  The era in which we carry the world forward.<\/p>\n<p>Today, on July 11th 2020, SHIT has recorded a new all-time high.<a href=\"https:\/\/t.co\/mLtmEgC8hD\" rel=\"nofollow\">https:\/\/t.co\/mLtmEgC8hD<\/a> <a href=\"https:\/\/t.co\/ANphhPCBxy\" rel=\"nofollow\">pic.twitter.com\/ANphhPCBxy<\/a><\/p>\n<p>&mdash; SBF (@SBF_Alameda) <a href=\"https:\/\/twitter.com\/SBF_Alameda\/status\/1281798977990475778?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">July 11, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2>Conclusion<\/h2>\n<p>Summing it up, <a href=\"https:\/\/en.ethereumworldnews.com\/category\/news\/latest-bitcoin-btc-news\/\" target=\"_blank\" rel=\"noopener noreferrer\">Bitcoin&#8217;s<\/a> lack of volatility in the past month or so has resulted in a drop in BTC&#8217;s dominance on social media. This drop is indicative of an ongoing alt season that can further be confirmed by a bullish ETH\/BTC pair. Additionally, the market cap of altcoins is on an upward trajectory as confirmed by the Shit-coin Perpetual contract on FTX.<\/p>\n<p>As with all analyses of Bitcoin and altcoins, traders and investors are advised to carry out their own research. The use of risk management techniques should also become a habit. This includes placing of adequate stop losses and use of low leverage during uncertain times.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Quick take: Bitcoin has been in a state of continuous sideways movement since early June.\u00a0 Social media dominance of BTC has been dropping and could point to an alt season.\u00a0 A bullish ETH\/BTC chart hints of altcoins gaining in the crypto markets.\u00a0 Additionally, the Shit-coin Perpetual contract on FTX recently hit a new All-Time high. Bitcoin (BTC) continues to be in a state of Limbo as the King of Crypto is yet to provide proper signs of its next move. [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":562116,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[825,800,823],"tags":[115,4424,1233,1322],"_links":{"self":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/562543"}],"collection":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/comments?post=562543"}],"version-history":[{"count":0,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/562543\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media\/562116"}],"wp:attachment":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=562543"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=562543"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=562543"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}