Crypto Analyst: Potential 50% Drop Could Put Altcoins on Flash Sale

During Bitcoin’s 2019 bull rally, altcoins have mostly suffered, struggling to regain lost ground in USD value and dropping further in their relative ratio against BTC.

The allure of a potential “alt season” has crypto investors buying every dip, however, one crypto analyst claims that a flash sale may be ahead in the crypto market, where altcoins like Ethereum, Ripple, Litecoin, and others drop another 50% in value.

Altcoins May Drop Another 50%, Bottom in November According to Crypto Analyst

Altcoins have had it hard in 2019. While there are a few standouts such as Litecoin that saw over 600% gains at one point due to its pre-halving hype pump, and Chainlink, most altcoins have only fallen lower in terms of their USD and BTC values.

Related Reading | Altcoins May Never Again Reach All-Time High, Even if Bitcoin Hits $100K 

With Bitcoin rising to new 2019 highs and possible embarking on its next bull run, altcoins have been bleeding out and capitulating and crypto investors dump their declining altcoin holdings in fear of missing out on Bitcoin bull run gains.

In the past, once Bitcoin began its bull run, altcoins also skyrocketed and outperformed Bitcoin, resulting in what many refer to as an “alt season.” The promise of alt season gains keeps crypto investors buying the dip, even as they reach new low after low.

One crypto analyst believes that there’s at least one more 50% dip ahead in altcoins before they bounce at the bottom of the ascending channel the altcoin market cap has been in since it first began.

Bitcoin Rebounds From Bubbles, But Will ICOs and Alts Become The Next Tulips?

The last few times the total crypto market cap sans Bitcoin touched the bottom of the ascending channel, it bounced powerfully higher, and after repeated tests of support, alt season finally began.

Looking at the…

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