Bigger Than Bitcoin

A new season for gains approaches. [Total Wealth] BROUGHT TO YOU BY MANWARD PRESS This Event Could Be Bigger Than the Bitcoin Halving SPONSORED [Have You Heard the Secret? The Dark Ticker]( [Bryan - Dark Ticker]( Exclusive After-Hours Symbol [Real Overnight Gains of 51%... 73%... 100%... Even 165%!]( [Robert Ross] Robert Ross Speculative Assets Specialist I'm going to let you in on a little secret... And it's one a reader nailed with their question last week... Generally, the alt coins pretty much rise and fall in value right in line with Bitcoin (with only small percentage differences in the rise or fall). When will we see some separation from this with the alt coins forming their own distinctive pricing patterns? - Reader Dave B. We've talked a lot about the crypto bull market in the context of Bitcoin. But we haven't delved too much into what comes after the Bitcoin bull run. This is known as "alt season." And it's bigger - much bigger - than the Bitcoin halving. A Primer on "Alt Season" Alt season describes a period when altcoins - cryptocurrencies other than Bitcoin - significantly outperform Bitcoin. It usually comes after Bitcoin has had a major bull run and starts to stabilize or consolidate. During alt season, investors often diversify their portfolios away from Bitcoin into altcoins. And that leads to a surge in the prices of these alternative cryptocurrencies. There's a lot of historical precedent for it. A classic example of alt season occurred in late 2017 and early 2018. After Bitcoin soared to nearly $20,000 in December 2017, altcoins like Ethereum (ETH), Ripple (XRP) and Litecoin (LTC) saw big gains in the weeks following. Ethereum, for instance, skyrocketed from around $300 in November 2017 to more than $1,400 in January 2018... a gain of 300%. [Bitcoin - Ethereum]( [View larger image]( It happened again in early 2021, where altcoins collectively experienced massive gains following Bitcoin's rally to new all-time highs. Coins like Binance Coin (BNB) and Cardano (ADA) saw remarkable increases in value, independent of Bitcoin's price movement. Driving Factors Behind Alt Seasons Clearly, altcoins like it when Bitcoin rallies. There is simply more cash for cryptocurrency investors to spread into other altcoins. But there are a few other reasons for this. SPONSORED [If You KNEW One Ticker Would Go Up the Next Day... How Much Could You Make?]( [Businessman - Crystal ball]( Ten years' worth of data proves that [when THIS triggers](... one strange "Dark Ticker" surges... 88% of the time! [Turn This Market Advantage Into OVERNIGHT Gains as High as 197%...]( First is the desire for higher returns. After a significant Bitcoin rally, many investors start looking for the next big opportunity. Altcoins, with their lower market caps and potential for high growth, become attractive targets... especially when crypto speculators start to "chase" gains higher. Second is wider adoption. Alt seasons often coincide with advancements or milestones in specific altcoins or their underlying technologies. For example, Ethereum's upgrade plans or DeFi's growth have previously fueled interest in specific altcoins. Lastly is Bitcoin's market dominance. When Bitcoin's market dominance begins to decrease, it often signals the start of alt season. [Bitcoin Market Dominance]( [View larger image]( This decrease indicates that investors are moving their funds from Bitcoin into altcoins. But are we on the brink of another alt season? This "Alt Season" Indicator Has a 100% Hit Rate Alt season has historically started later in the crypto cycle. So where are we in today's crypto cycle? Let's look at my favorite crypto indicator... net unrealized profit/loss (NUPL). NUPL takes all the Bitcoin out there and calculates whether it's currently worth more (or less) than when it was bought. If the value's up, you've got unrealized profit. If it's down, you're staring at unrealized loss. SPONSORED [Trade AFTER Closing Bell (the Dark Ticker)]( [Stock Market City]( Now you can trade an exclusive ticker (from 4 to 4:15 p.m.) for the chance at overnight gains as high as 197%. [Discover the Dark Ticker for Yourself]( NUPL then adds up all these profits and losses from everyone holding Bitcoin. The end result? A simple number. If it's above zero, more people are in profit, meaning the overall mood is optimistic. If it's below zero, losses are winning, and the mood's likely downbeat. And as [we talked about last week](... once it hits 75% it's time to sell. NUPL is currently at 42%... meaning we're roughly halfway through this crypto cycle. [Bitcoin - Net Unrealized profit/loss]( [View larger image]( And if you look at the historical start of previous alt seasons (i.e. December 2017 and January 2021) they usually start when NUPL is near 65%. So while it's not quite time for alt season, it is time to start positioning for it. The Final Alt Season If history is any guide, we're approaching what could be a pivotal moment in this crypto cycle - the onset of the final alt season. While NUPL suggests we're not quite there yet, savvy investors should already be eyeing potential opportunities in the altcoin market. This isn't just about jumping on the bandwagon. It's about strategic positioning and understanding market dynamics. As we edge closer to the 65% NUPL mark, it's crucial to research and identify altcoins with strong fundamentals and growth potential. Whether it's advancements in technology, increased adoption, or unique use cases, the right altcoin picks could offer significant returns. I'll have much more on altcoins soon. Stay tuned. Stay safe out there, Robert P.S. Keep the crypto questions coming! Send them to [mailbag@manwardpress.com](mailto:mailbag@manwardpress.com?subject=crypto%20q's) and I'll be sure to address them in a future essay. Robert Ross Robert Ross' unique style of clear and direct stock analysis has helped him build a massive following in the investment research industry. He started his career at investment research company Mauldin Economics, where he quickly rose through the ranks to become one of the youngest chief analysts in the industry. Today, over a million investors turn to Robert every month for his take on investing, economics and personal finance. He now shares his unique insights in Total Wealth and Manward Money Report. You are receiving this email because you subscribed to Total Wealth. To unsubscribe from Total Wealth, [click here](. Need help with your account? [Click here](. Have a question or comment for the editor? [Click here](mailto:mailbag@manwardpress.com). Please do not reply to this email as it goes to an unmonitored inbox. 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